Tori raises $50 million in the 7 days before launch, bringing institutional-grade arbitrage strategy to DeFi

BlockBeats News, July 28th, Dutch crypto financial protocol Tori Finance announced that its institutional-grade Delta Neutral Yield product strUSD completed a $50 million pre-launch deposit funding round, reaching the cap in just 7 days.

Tori stated that strUSD offers an approximately 12% Annual Percentage Yield (APY), with the yield generated from a global interest rate spread trading strategy commonly used by traditional financial institutions, rather than from crypto market capital recycling. This strategy involves low-interest rate currency borrowing, high-interest rate market investment, and USD revenue locked in through forex hedging to achieve returns that are low-correlated with the crypto market cycle.

Tori's founder, Samed Duzcay, mentioned that such trades were previously mainly participated in by pension funds, banks, and other large institutions, usually requiring tens of millions of dollars in funding thresholds and involving complex processes such as local bank accounts, custody, tax, and compliance approvals. Tori, through on-chain tokenization, is making these institutional strategies accessible to ordinary users.

Users can deposit USDC or USDT to receive synthetic dollar assets trUSD and stake to receive strUSD. This asset, based on the ERC-20 standard, can interact with DeFi protocols such as Morpho, Pendle, Curve, and can also be used as collateral for borrowing to further enhance yield.

Tori stated that the protocol constructs an on-chain balance sheet using zero-knowledge proofs and a trusted execution environment, with independent verification firm Accountable providing real-time audits of off-chain funds; digital asset investment firm RockawayX serves as the risk management party and anchor liquidity provider.

Furthermore, Tori's smart contracts have been audited by Sherlock and Nethermind, and introduced Hypernative for round-the-clock security monitoring, with all contract upgrades having a 24-hour delay mechanism.

Tori mentioned that its goal is to bring the decades-old neutral yield strategy used by traditional financial institutions into the on-chain financial system, driving the integration of Real Yield with DeFi infrastructure.