Foresight News reports that on-chain bond layer Xitadel has announced the completion of a new round of financing, with the specific amount undisclosed. Participants in this round of financing include Anatoly Yakovenko, co-founder of Solana Labs, Nom None, a core contributor to BONK, and Kash Dhanda, an advisor to Jupiter.
Xitadel stated that it will launch a Liquidity Token (LTT), a highly collateralized, fixed-term, fixed-income financial instrument supported by project governance tokens and enabling on-chain trading. Compared to traditional lending protocols or ve-token models, LTT can be freely traded on AMMs while receiving a 1:1 ratio of locked asset support, and it offers a clear maturity date and certainty of returns. This product will first be issued in the Solana ecosystem and will implement cross-chain asset portfolio management through Wormhole and Chainlink technologies.
