Solana-based yield protocol Exponent raises $5M in seed funding

Exponent, a Solana-based yield trading protocol, has raised $5 million in a recent seed round, The Block reported. The round was led by Multicoin Capital, with participation from institutional investors including Solana Ventures, RockawayX, L1D, Prelude, and Theia Blockchain. Angel investors such as Solana Labs CEO Anatoly Yakovenko also joined the round. This brings Exponent's total funding to $7.1 million, which includes $2.1 million raised in November 2024.