Solana-Based DeFi Protocol Synchrony Raises $4.2M for Composable Indices

The funding, led by by Sanctor Capital, Wintermute Trading and GBV Capital, will also go toward its marketing operations.

AccessTimeIconOct 21, 2021 at 2:04 p.m. UTC
Updated May 11, 2023 at 7:01 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Synchrony, an on-chain asset management protocol built on the Solana blockchain, has raised $4.2 million in strategic funding to further the development of its decentralized finance (DeFi) configurable indices.

The funding, led by by Sanctor Capital, Wintermute Trading and GBV Capital, will also go toward its marketing operations as it attempts to position itself as a frontrunner for DeFi asset management interacting with Solana’s ecosystem.

“Synchrony is hyper-focused on fostering an inclusive community where people can learn, build and collaborate together,” Synchrony Labs co-founder Andrew Fraser said in a statement on Thursday.

The budding protocol hopes to flesh out its platform where users will be able to create configurable indices composed of varying token sets, liquidity pools and other on-chain instruments. The aim, its developer’s say, will be to create “algorithmically optimized” and “automatically rebalancing pools or portfolios.”

Through a front-end marketplace, users will be able to access a suite of tools that leverage analytics and indices to define unique parameters for trade execution. Users will also be able to interact with Solana’s ecosystem from a single point.

“Detailed insights and analytics will bring tremendous value to the Solana ecosystem and its most active participants,” said Han Kao, founder of Sanctor Capital.

“By unlocking this trove of data, Synchrony will provide a more holistic view of Solana dapps and [decentralized exchanges], which ultimately increases transparency while introducing new value for traders.”


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

Sebastian Sinclair

Sebastian Sinclair is a CoinDesk news reporter based in Australia.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about