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June 24, 2025 – Yield.xyz, the pioneering Web3 yield infrastructure platform, today announced it has closed a $5 million strategic funding round led by Multicoin Capital. This investment marks a significant milestone for the company, formerly known as Omni Wallet and Steakwallet, as it emerges from stealth to provide a critical backend solution for developers and protocols navigating the complex landscape of decentralized finance (DeFi) yield.
Yield.xyz aggregates over 200 DeFi yield sources into a single, powerful API, eliminating what co-founder Serafin Lion Engel refers to as "backend Frankensteins" – the costly and complex manual integrations faced by crypto apps and neobanks. The platform offers real-time, on-chain yield data across lending, staking, and LP markets, enabling seamless integration of high-performing strategies without the burden of managing fragmented liquidity or the intricacies of yield farming.
"The crypto space allows for new capital pools to spin up instantly, which is great for users but a massive pain point for user-facing applications," said Serafin Lion Engel, co-founder of Yield.xyz. "We saw clients dedicating significant resources to cobbling together DeFi APIs. With Yield.xyz, apps can integrate one API and gain access to hundreds of staking and DeFi integrations, abstracting away the complexity and allowing them to focus on their core product."
Yield.xyz's evolution from a multichain wallet app (Omni Wallet) in the 2021 crypto cycle to a robust infrastructure provider highlights its adaptability and foresight. Earlier this year, the company was acquired by Echo Base, the company behind the peer-to-peer crypto marketplace Paxful, further solidifying its foundation.
Key Features and Benefits of Yield.xyz:
- Comprehensive Yield Aggregation: Access to over 200 yield sources, particularly strong on Solana, covering lending, staking, and LP markets.
- Simplified Integration: A single API provides developers with streamlined access to complex DeFi yield strategies, reducing development time and maintenance costs.
- Developer-First Tooling: Designed for seamless integration into wallets, crypto apps, and on-chain services, powering optimized DeFi experiences at scale.
- Automated Yield Strategy (Future): Plans to offer automated rebalancing and potentially a unified DeFi yield rate, allowing applications to build around users' risk appetites.
- Eliminating "Backend Frankensteins": Reduces the need for extensive in-house development teams to manage fragmented DeFi integrations.
The strategic investment from Multicoin Capital, a firm deeply aligned with the Solana ecosystem, is expected to further accelerate Yield.xyz's growth and expand its integrations. Yield.xyz is already a key yield supplier for major platforms like Ledger, and its infrastructure is poised to onboard more traditional fintech firms, such as neobanks, looking to offer crypto yield products.
"Now it’s very easy for you to onramp and get access to stablecoins. The next thing is really going to be being able to get yield on them," added Engel, emphasizing the growing demand for simplified yield solutions on stablecoins.
Yield.xyz is positioned to become the go-to backend solution for any entity looking to offer simplified, secure, and efficient crypto yield products, driving the next wave of DeFi adoption.
About Yield.xyz:
Yield.xyz (formerly Omni Wallet and Steakwallet) is a Web3 yield infrastructure platform that aggregates over 200 DeFi yield sources into a single API. It provides a backend solution for developers and protocols to access real-time, on-chain yield data across lending, staking, and LP markets, enabling seamless integration of high-performing strategies and powering optimized DeFi experiences at scale.
About Multicoin Capital:
Multicoin Capital is a thesis-driven investment firm that invests in cryptocurrencies, tokens, and blockchain companies. The firm is known for its deep research and conviction in disruptive technologies within the crypto space.
Compiled by CMO Intern team
