DeFi protocol Hylo has secured $1 million in a strategic funding round led by Solana Ventures, with participation from Colosseum. The transaction, finalized on October 20, 2026, brings the project's total disclosed funding to $2.5 million.
The company plans to utilize the new capital to expand its leverage and yield infrastructure on the Solana blockchain. This investment marks the second time Solana Ventures has backed the project and the third for Colosseum.
Hylo launched publicly in August 2025, following a $1.5 million seed round. Shortly after its debut, the protocol reached nearly $100 million in total value locked. By October 2026, cumulative trading volume exceeded $700 million.
The protocol offers products such as liquidation-resistant leveraged tokens, including xSOL, xBTC, and xHYPE, alongside the hyUSD stablecoin and its yield-bearing variant, eHYUSD. The xSOL token provides approximately 3x exposure to SOL.
The project, which features a team of three co-founders and one founding engineer, previously secured a top placement in the Solana Radar hackathon in November 2024. Hylo has not issued a native token in connection with this funding round.
