DeFi infrastructure company Yield.xyz receives $5 million in strategic funding from Multicoin Capital

According to Blockworks, DeFi infrastructure company Yield.xyz has secured $5 million in strategic funding from Multicoin Capital. The company, formerly known as Omni, a multi chain wallet founded in 2021, has transformed into a revenue aggregation platform after being acquired by Echo Base, the parent company of Paxful, this year. Yield.xyz integrates over 200 Solana ecosystem revenue sources through a unified API, providing plug and play DeFi revenue functionality for wallets and crypto applications such as Ledger. The future plan is to expand to traditional fintech companies such as New Bank and develop automated revenue strategy functions.