Pods, creators of a DeFi platform, announced today that earlier this year, the team raised $5.6M in seed funding to create structured products for crypto-assets. The financing featured investors such as IOSG, Tomahawk, Republic, Framework Ventures, and more.
The first strategy on Pods Yield is stETHvv (Ethereum Volatility Vault). stETHvv is a low-risk product focused on ETH accumulation. It combines Lido’s yield with weekly strangles to earn more every time the ETH price bounces up or down.
Currently, Pods platform users can deposit ETH and stETH into the vault stETHvv (short for stETH Volatility Vault) and be exposed to a low-risk, complex-to-execute strategy in one click.
“At Pods, we are proud of what we have achieved and thrilled to continue building the future of DeFi. I am honored to announce that we have completed a $5.6 million seed round. The Pods team is excited about this next stage of building world-class structured products for crypto assets. We have talked to hundreds of stakeholders to understand their needs and improve our platform according to their feedback. Recently Pods did four security audits on its Pods Yield product, two of them with OpenZeppelin in November and December 2022. We are not only generating results but have developed a range of products dedicated to assisting DeFi protocols to diversify their treasury into low-risk strategies, making their treasury strategy more resilient”
– Rafaella Baraldo, Founder & CEO of Pods
Today, most DeFi yield strategies depend on liquidity mining campaigns, incur a hard-to-estimate risk, and most use spot markets. Pods foresee opportunities to set up automated derivatives strategies independent of liquidity mining. Risk and return analyses are transparent and quantitative.
As a DeFi protocol, Pods presents an alternative to yield on crypto-assets as opposed to CeFi lenders. Pods Yield is a series of open-source smart contracts that algorithmically runs a known investment strategy, receive deposits, and process withdrawals.
Leave a Comment