Spout raises $2M for 0% loans against tokenized US stocks
- —The $2M round was backed by Draper Dragon, Anchorage Digital, Flow Traders and Solana Labs
- —Borrowers pay 0% interest and keep upside up to the strike price
- —Lender yield comes from weekly far out-of-the-money covered calls on the collateral
- —The lender side is split into senior and junior tranches, with the borrower carrying tail risk
Why it matters: The model shifts yield generation from the borrower to the collateral itself, potentially cutting the cost of margin lending against equities.
Source: BlockchainReporter