Axis raises $5 million in round led by Galaxy Ventures to launch onchain yield protocol for USD, bitcoin and gold

Axis, a quantitative yield protocol aiming to bring institutional trading strategies onchain, successfully raised $5 million in a private funding round led by Galaxy Ventures. The round was significantly oversubscribed, indicating strong institutional interest in onchain yield infrastructure. Other participants included OKX Ventures, FalconX, and GSR. The project has already deployed $100 million in private capital through its closed beta to stress-test its arbitrage engine, which targets market-neutral returns and has achieved a Sharpe ratio of 4.9. Axis seeks to address the opacity of existing digital asset yield products by offering a multi-asset yield hub for USD, bitcoin, and gold, providing transparent, verifiable, and uncorrelated returns. Its first product will be USDx, a dollar-linked digital asset, followed by bitcoin and gold offerings. Axis plans to launch on the Plasma blockchain to minimize costs and will open its initial Origin Vault this year, targeting up to $1 billion in deposits before a public token sale and full protocol launch in early 2026.

(Source：The Block)