Superform Raises $3M to Launch SuperVaults, Intelligent Onchain High-Yield Products, Led by VanEck Ventures - Chainwire

12Dec

Superform Raises $3M to Launch SuperVaults, Intelligent Onchain High-Yield Products, Led by VanEck Ventures

New York, New York, USA, December 12th, 2024, Chainwire

With $9.5M in total funding, Superform launches SuperUSDC to deliver optimized stablecoin yield with onchain simplicity.

Superform Labs, the onchain wealth app to effortlessly grow your crypto portfolio, announced today it has raised $3 million in a strategic round led by VanEck Ventures with participation from Polychain Capital, CMT Digital, Amber Group, Node Ventures, BlockTower Capital, Heartcore Capital, Maven11 Capital, and UpTop Capital. This follows its $6.5 million Seed round in November 2022, bringing Superform Labs’ total funding to $9.5 million.

The new funding coincides with the launch of SuperVaults, Superform’s flagship native yield products designed to redefine onchain earning with simplicity, security, and optimization and Season 2 of their rewards program, offering boosted rewards for SuperVault depositors. Acting as intelligent onchain high-yield savings products, SuperVaults empower users to earn more with their assets through automated, non-custodial yield management. These single-asset vaults seamlessly maximize returns while combining the reliability and accessibility of traditional finance with the earning potential of onchain finance. To learn more and start using SuperVaults, please visit Superform’s blog post.

The first SuperVault to launch is SuperUSDC, which is a stablecoin yield vault for USDC on Ethereum. With SuperUSDC, users can passively earn the highest returns on their USDC across blue chip protocols without the need for active management. SuperUSDC brings together the best of optimization and security in onchain finance. Using SuperPools, an existing Superform product, users can access SuperUSDC yield directly from Base, the leading Ethereum L2, for a fraction of the cost of Ethereum. Superform plans to expand SuperUSDC to additional chains, further enhancing earning opportunities for depositors.

“At Superform, we aim to redefine onchain finance by making wealth-building effortless, secure, and rewarding,” said Vikram Arun, CEO and Co-Founder of Superform Labs. “Building on the momentum of our Seed round, we are excited to introduce SuperVaults—the culmination of our work to make these products accessible, blending the high-yield potential of DeFi with the trustworthiness and cost of traditional financial solutions.”

SuperVaults automate yield management, allowing users to passively earn the most stablecoin yields across DeFi protocols. Key features include:

Optimized Earnings: Maximize yield for passive income with minimal effort.
Seamless Experience: Single-transaction deposits and automated yield management.
Security and Trust: Built on robust audits and proactive simulations.

“We’re excited to support Superform’s mission to redefine onchain wealth as one of the first investments from our new fund,” said Wyatt Lonergan, General Partner at VanEck Ventures. “We strongly believe a major platform opportunity will emerge in aggregating interest-bearing products in the open, ultimately catalyzing the next wave of innovation in wealth management. SuperVaults take this a step further by turning assets like USDC into optimized yield products leveraging blue chip protocols under the hood.”

The additional $3 million in funding will enable Superform to expand its offerings, starting with the launch of SuperUSDC on Ethereum, the first in its line of SuperVaults. It will also support the development of cross-chain capabilities, enhancing yield optimization for users across multiple protocols. Additionally, the funding will fuel team growth, allowing Superform to advance product development and provide enhanced support to its growing user base.

To learn more about Superform and using SuperVaults, please visit superform.xyz.

About Superform

Superform is the onchain wealth app to effortlessly grow your crypto portfolio. Superform helps users maximize returns on their crypto by providing access to over 800 earning opportunities with $10B in TVL across 50 protocols. Superform’s SuperVaults product offers single-transaction deposits into multi-protocol, yield bearing vaults. These “set and forget” opportunities are focused on earning users stablecoin yields. SuperVaults have been audited by yAudit and multiple independent security researchers from Spearbit.

Since launching in Q2 2024, Superform has delivered secure and optimized yield to over 125,000 depositors. Currently, users are earning an average APY of over 20%. Backed by $9.5M in funding from leading investors including VanEck Ventures, Polychain Capital, Circle, BlockTower Capital, Maven11 Capital, CMT Digital, and Arthur Hayes, Superform Labs is simplifying the path to onchain wealth.

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