Arbitrum

Block

Arthur

Yield

Avalanche

Quick take:
<ul>
 <li>The announcement was accompanied by the launch of the Superform crypto yield marketplace in early access mode.</li>
 <li>BlockTower Capital, Maven 11, and Circle Ventures also joined the round.</li>
 <li>The platform initially supports seven EVM-compatible networks including Ethereum, Arbitrum, Optimism, Base, Polygon, Avalanche C-Chain and BNB Chain.</li>
</ul>
Superform a crypto yield marketplace founded by former BlackTower Capital investors has announced a $6.5 million funding raised across seed and angel rounds.
The fundraising was led by Polychain Capital with participation from BlockTower Capital, Maven 11, Circle Ventures, and angel investors including Arthur Hayes, Marc Bhargava, Avi Felman, Michael Bucella, and Bryan Pellegrino, The Block <a href="https://www.theblock.co/post/276631/crypto-yield-marketplace-superform-raises-funding" target="_blank" rel="noopener noreferrer nofollow">reported</a>.
Superform also announced the launch of its cross-chain crypto yield marketplace in early access. The platform allows decentralised finance (DeFi) protocols to list their vaults and asset pools, allowing users to earn yield by depositing funds into the vaults.
Although the fundraising was completed in November 2022, Blake Richardson, co-founder of Superform told The Block that his company wanted to announce the completion of the seed round after the launch of the platform.
The fundraising was completed via a simple agreement for future equity (SAFE) with token warrants, an investment strategy that gives investors the right to receive equity after certain milestones are achieved.
Commenting on the reason he and his colleague left their previous roles at BlackTower, Richardson said: “We left this great role at BlockTower because we needed to build a solution accessible to everyone. BlockTower Capital supported us in our transition, becoming our second largest backer in our seed round.”
According to Richardson, Superform is the first place to permissionless list yield. “We are the simplest place to discover, deposit into, and manage yield because we’ve abstracted away swapping and bridging and made all actions available from a single interface,” he said.
User deposits on Superform are minted into a tokenised presentation called SuperPosition, which allows for “infinitely composable combinations” of yield, said Richardson.
He compared SuperPosition to “a tokenized representation of liquid restaked ETH on Arbitrum deposited into a lending vault on Optimism,” adding that it makes any combination of interactions across EVM possible.
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The post <a href="https://www.nftgators.com/crypto-yield-marketplace-superform-bags-6-5m-seed-led-by-polychain-capital/" rel="noopener noreferrer nofollow">Crypto Yield Marketplace Superform Bags $6.5M Seed Led By Polychain Capital</a> appeared first on <a href="https://www.nftgators.com" rel="noopener noreferrer nofollow">NFTgators </a>.

Crypto Yield Marketplace Superform Bags $6.5M Seed Led By Polychain Capital

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