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HomeCryptocurrencyDeFi protocol Pods raises $5.6M to assist its structured crypto merchandise dApp...

DeFi protocol Pods raises $5.6M to assist its structured crypto merchandise dApp » CryptoNinjas

Pods, creators of a DeFi platform, introduced as we speak that earlier this yr, the staff raised $5.6M in seed funding to create structured merchandise for crypto-assets. The financing featured buyers equivalent to IOSG, Tomahawk, Republic, Framework Ventures, and extra.

The primary technique on Pods Yield is stETHvv (Ethereum Volatility Vault). stETHvv is a low-risk product centered on ETH accumulation. It combines Lido’s yield with weekly strangles to earn extra each time the ETH worth bounces up or down.

Presently, Pods platform customers can deposit ETH and stETH into the vault stETHvv (brief for stETH Volatility Vault) and be uncovered to a low-risk, complex-to-execute technique in a single click on.

“At Pods, we’re happy with what we’ve achieved and thrilled to proceed constructing the way forward for DeFi. I’m honored to announce that we’ve accomplished a $5.6 million seed spherical. The Pods staff is worked up about this subsequent stage of constructing world-class structured merchandise for crypto belongings. Now we have talked to a whole lot of stakeholders to know their wants and enhance our platform in response to their suggestions. Lately Pods did 4 safety audits on its Pods Yield product, two of them with OpenZeppelin in November and December 2022. We aren’t solely producing outcomes however have developed a spread of merchandise devoted to helping DeFi protocols to diversify their treasury into low-risk methods, making their treasury technique extra resilient”
– Rafaella Baraldo, Founder & CEO of Pods

At this time, most DeFi yield methods depend upon liquidity mining campaigns, incur a hard-to-estimate danger, and most use spot markets. Pods foresee alternatives to arrange automated derivatives methods impartial of liquidity mining. Threat and return analyses are clear and quantitative.

As a DeFi protocol, Pods presents an alternative choice to yield on crypto-assets versus CeFi lenders. Pods Yield is a sequence of open-source good contracts that algorithmically runs a recognized funding technique, obtain deposits, and course of withdrawals.



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