Solana
Spout Raises Two Million Dollars to Enable Interest-Free Equities Borrowing on Solana
Backed by former CFTC Chairman Chris Giancarlo and Draper Dragon, Spout secured strategic funding to launch stablecoin loans against tokenized stocks.
Solana-based protocol Spout secured a $2 million strategic funding round to develop an interest-free borrowing platform backed by tokenized US equities. Investors in the round include venture firm Draper Dragon, Anchorage Digital, Flow Traders, Taisu Ventures, Vessel Capital, Solayer, 2Square Capital, Bering Waters Ventures, and strategic support from Solana Labs.
Angel backers include former CFTC Chairman Chris Giancarlo, Solana co-founders Anatoly Yakovenko and Raj Gokal, Superstate co-founder Dean Swennumson, and Injective co-founder Eric Chen. Giancarlo stated that he is backing the project to help establish an on-chain credit market where equity holders can unlock stablecoin liquidity without surrendering asset ownership or compounding interest costs.
Under Spout's design, users deposit tokenized stocks as collateral to borrow USDC up to 50% of the collateral's value without paying loan interest. According to investment notes from Draper Dragon, the protocol funds these zero-interest facilities through covered call option premiums rather than charging conventional borrowing rates.
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