Home Cryptocurrency DeFi protocol Pods raises $5.6M to help its structured crypto merchandise dApp » CryptoNinjas

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

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

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Pods, creators of a DeFi platform, introduced immediately that earlier this 12 months, the crew raised $5.6M in seed funding to create structured merchandise for crypto-assets. The financing featured traders resembling 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 value bounces up or down.

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

“At Pods, we’re pleased with what we have now achieved and thrilled to proceed constructing the way forward for DeFi. I’m honored to announce that we have now accomplished a $5.6 million seed spherical. The Pods crew is happy about this subsequent stage of constructing world-class structured merchandise for crypto belongings. We’ve talked to a whole bunch of stakeholders to know their wants and enhance our platform in accordance with their suggestions. Lately Pods did 4 safety audits on its Pods Yield product, two of them with OpenZeppelin in November and December 2022. We’re not 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

Right this moment, 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. Danger 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 collection of open-source sensible contracts that algorithmically runs a recognized funding technique, obtain deposits, and course of withdrawals.

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