Hylo, a decentralized finance protocol built on Solana, has closed a $1 million strategic funding round led by Solana Ventures, with Colosseum also participating.
The round closed on October 20, 2026. The money is earmarked for expanding Hylo’s leverage and yield infrastructure on Solana.
This is Solana Ventures’ second time backing Hylo. For Colosseum, it is the third.
Inside the round and the product lineup
The new capital follows a $1.5 million seed round in August 2025. Solana Ventures and Colosseum both took part in that one too.
Combined, the two rounds bring Hylo’s total disclosed funding to $2.5 million.
Hylo’s pitch rests on two product lines: liquidation-resistant leverage and stablecoins that generate yield.
Hylo offers leveraged tokens including xSOL, xBTC, and xHYPE. The xSOL token provides roughly 3x exposure to SOL.
Hylo markets its leverage products as resistant to forced liquidation. The protocol has also introduced hyUSD, a stablecoin, along with eHYUSD, a yield-bearing version.
From hackathon to hundreds of millions in volume
The project earned a top placement in the Solana Radar hackathon in November 2024. Colosseum is closely tied to that pipeline, running hackathons and backing standout teams.
The protocol went live publicly in August 2025. Shortly after launch, its total value locked climbed to nearly $100 million.
Hylo reported more than $700 million in cumulative trading volume by October 2026.
The team behind it is small. Hylo is run by three co-founders and one founding engineer.
What this means for Hylo and Solana DeFi
Repeat investment from Solana Ventures and Colosseum suggests the ecosystem’s own backers see Hylo as infrastructure worth reinforcing.
Hylo has not launched a native token tied to this funding round. It also leaves open how Hylo plans to monetize over the long run.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.