DeFi Firm Invests in Apyx Dividend-Backed Stablecoin
DeFi Development Corp., a public company focused on accumulating Solana, has announced a strategic investment in Apyx. Apyx is developing a Dividend-Backed Stablecoin (DBS), an emerging asset category. DeFi Development Corp. was the first institutional capital to invest in the project.
- Apyx sources its yield from dividends paid on preferred equity issued by public companies known as Digital Asset Treasuries (DATs), which use this financing to accumulate digital assets. - The protocol features a dual-token system: apxUSD is the non-yield-bearing stablecoin designed for liquidity, while apyUSD is the yield-bearing token that accrues the dividend cash flows from the underlying preferred shares. - Apyx is built natively on the Solana blockchain, aiming to combine the efficiency of the network with sustainable, transparent yields from off-chain public market assets. - The project is supported by the team behind DeFi Development Corp. (Nasdaq: DFDV), which is itself a DAT focused on accumulating Solana and serves as Apyx's first institutional investor. - Apyx recently closed a strategic funding round at a $300 million valuation, bringing its total capital raised to $3 million across two rounds. - The protocol aims to address the largely zero-yield nature of the current >$300 billion stablecoin market by creating a structural link between public capital markets and on-chain yield.
