PANews reported on December 3rd that, according to The Block, the on-chain revenue protocol Axis has completed a $5 million private funding round, led by Galaxy Ventures, with participation from OKX Ventures, FalconX, GSR, Maven 11, CMS Holdings, and Marc Zeller, founder of the Aave Chan Initiative. The round was oversubscribed four times. The project aims to introduce market-neutral strategies on-chain, and its closed beta phase has already deployed $100 million in capital, achieving a strategy Sharpe ratio of 4.9.

Axis offers yield products decoupled from Bitcoin, gold, and the US dollar through a multi-asset yield hub. Its first dollar-pegged asset, USDx, generates yield using an arbitrage engine, with plans to expand to Bitcoin and gold assets. The protocol will be deployed on Plasma, a dedicated stablecoin chain supported by Bitfinex, to reduce operating costs and will integrate infrastructure such as Chainlink proof-of-reserve and Veda custody. The team stated that it plans to launch its first Origin Vault this year, aiming to raise up to $1 billion in deposits before a public token sale and full protocol launch in early 2026.