On-chain revenue protocol Axis raises $5 million, led by Galaxy Ventures.

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 bring 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.