Superform Secures $3 Million to Launch SuperVaults, Intelligent Onchain High-Yield Products, Led by VanEck Ventures
Superform has secured $9.5M in total funding and is now launching SuperUSDC, designed to provide optimized stablecoin yield while ensuring on-chain simplicity.
Superform Labs, the on-chain wealth app designed to enhance your crypto portfolio seamlessly, has announced a successful $3 million raise in a strategic funding round. This round was spearheaded by VanEck Ventures, with notable participation from Polychain Capital, CMT Digital, Amber Group, Node Ventures, BlockTower Capital, Heartcore Capital, Maven11 Capital, and UpTop Capital. Following its $6.5 million Seed round in November 2022, Superform Labs has now secured a total funding of $9.5 million.
The latest funding aligns perfectly with the debut of SuperVaults, Superforms premier native yield products aimed at revolutionizing on-chain earnings through simplicity, security, and optimization. Additionally, Season 2 of their rewards program is set to enhance rewards for SuperVault depositors. SuperVaults revolutionize how users interact with their assets by providing intelligent onchain high-yield savings products. These innovative solutions enable users to maximize their earnings through automated, non-custodial yield management. Single-asset vaults are designed to optimize returns, merging the stability and accessibility of traditional finance with the lucrative opportunities presented by on-chain finance. For insights and to dive into the world of SuperVaults, check out the latest on Superforms blog.
The inaugural SuperVault to hit the market is SuperUSDC, a yield vault designed specifically for USDC on the Ethereum blockchain. SuperUSDC empowers users to effortlessly maximize their returns on USDC by leveraging top-tier protocols, all while eliminating the hassle of active management. SuperUSDC seamlessly integrates top-tier optimization with robust security in the realm of on-chain finance. With SuperPools, an innovative offering from Superform, users can tap into SuperUSDC yield seamlessly from Base, the premier Ethereum Layer 2 solution, while enjoying significantly lower costs than Ethereum transactions. Superform is set to broaden the reach of SuperUSDC across more chains, unlocking even greater earning potential for depositors.
At Superform, we aim to redefine onchain finance by making wealth-building effortless, secure, and rewarding, said Vikram Arun, CEO and Co-Founder of Superform Labs. Building on the momentum of our Seed round, we are excited to introduce SuperVaultsthe culmination of our work to make these products accessible, blending the high-yield potential of DeFi with the trustworthiness and cost of traditional financial solutions.
SuperVaults automate yield management, allowing users to earn the most stablecoin yields across DeFi protocols passively. Key features include:
- Optimized Earnings: Maximize yield for passive income with minimal effort.
- Seamless Experience: Single-transaction deposits and automated yield management.
- Security and Trust: Built on robust audits and proactive simulations.
Were excited to support Superforms mission to redefine onchain wealth as one of the first investments from our new fund, said Wyatt Lonergan, General Partner at VanEck Ventures. We strongly believe a major platform opportunity will emerge in aggregating interest-bearing products in the open, ultimately catalyzing the next wave of innovation in wealth management. SuperVaults take this a step further by turning assets like USDC into optimized yield products leveraging blue chip protocols under the hood.
The recent infusion of $3 million in funding positions Superform to broaden its horizons, kicking off with the debut of SuperUSDC on the Ethereum blockchain, marking the inaugural entry in its SuperVault series. This initiative will bolster the evolution of cross-chain functionalities, amplifying yield optimization for users navigating various protocols. The funding will drive team expansion, enabling Superform to accelerate product development and deliver improved support to its expanding user community.
For those looking to dive deeper into Superform and explore the potential of SuperVaults, head over to superform.xyz.
Text source: ZyCrypto
