Superform Labs Raises $6.5 Million in Funding Rounds
Superform Labs, a crypto startup founded by former BlockTower Capital investors and a former Microsoft product manager, has secured $6.5 million in seed and angel funding rounds. Polychain Capital led the seed round, with participation from BlockTower Capital, Maven 11, Circle Ventures, and other firms. Angel investors included Arthur Hayes, Marc Bhargava, Avi Felman, Michael Bucella, and Bryan Pellegrino. The seed round closed in November 2022 but was announced alongside the launch of Superform’s marketplace in early access mode.
Introducing Superform: A Crypto Yield Marketplace
Superform is a permissionless cross-chain yield marketplace that allows DeFi protocols to list their vaults or asset pools. Users can deposit funds into these vaults and earn yield. Superform aims to simplify the process of discovering, depositing into, and managing yield by providing a single interface for all actions. After a user deposits funds, Superform creates a tokenized representation called a SuperPosition. This allows for “infinitely composable combinations” of yield across different EVMs.
SuperFrens: A Gamified Rewards Program
To reward its users, Superform is launching a program called SuperFrens. It is a gamified rewards system where users can compete with each other to achieve the highest rank on the monthly leaderboard. SuperFrens are NFTs with a fixed supply, and collecting multiple NFTs of a tier qualifies users for future rewards and exclusive benefits. While it’s unclear if native token airdrops will be part of these benefits, SuperFrens NFTs can be converted to ERC-20 tokens as Superform continues to decentralize.
Conclusion: Superform’s Innovative Approach to Crypto Yield
Superform Labs has raised significant funding to support its mission of simplifying and democratizing crypto yield. With its permissionless cross-chain marketplace and gamified rewards program, Superform aims to make it easier for users to participate in DeFi and earn yield. By abstracting away the complexities of swapping and bridging, Superform provides a user-friendly experience for accessing and managing yield across different blockchains. As Superform expands to more networks and introduces new features, it has the potential to become a prominent player in the crypto ecosystem.
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