DeFi protocol Pods raises $5.6M to support its structured crypto products dApp
Pods, creators of a DeFi platform, announced this day that earlier this year, the crew raised $5.6M in seed funding to make structured merchandise for crypto-resources. The financing featured patrons such as IOSG, Tomahawk, Republic, Framework Ventures, and more.
The major approach on Pods Yield is stETHvv (Ethereum Volatility Vault). stETHvv is a low-threat product centered on ETH accumulation. It combines Lido’s yield with weekly strangles to be pleased more at any time when the ETH tag bounces up or down.
For the time being, Pods platform customers can deposit ETH and stETH into the vault stETHvv (quick for stETH Volatility Vault) and be uncovered to a low-threat, advanced-to-develop approach in one click on.
“At Pods, we are overjoyed with what we accept as true with now executed and overjoyed to continue constructing the future of DeFi. I am honored to jabber that we accept as true with now executed a $5.6 million seed spherical. The Pods crew is worked up about this subsequent stage of constructing world-class structured merchandise for crypto resources. We’ve talked to hundreds of stakeholders to adore their needs and enhance our platform in conserving with their feedback. Right this moment Pods did four safety audits on its Pods Yield product, two of them with OpenZeppelin in November and December 2022. We’re no longer simplest producing outcomes nevertheless accept as true with developed a vary of merchandise devoted to assisting DeFi protocols to diversify their treasury into low-threat strategies, making their treasury approach more resilient”
– Rafaella Baraldo, Founder & CEO of Pods
Right this moment, most DeFi yield strategies depend on liquidity mining campaigns, incur a laborious-to-estimate threat, and most utilize predicament markets. Pods foresee alternatives to position up automated derivatives strategies self ample of liquidity mining. Threat and return analyses are clear and quantitative.
As a DeFi protocol, Pods items an different to yield on crypto-resources as towards CeFi lenders. Pods Yield is a series of commence-offer smooth contracts that algorithmically runs a identified funding approach, accumulate deposits, and direction of withdrawals.
