Pods, creators of a DeFi platform, announced today that the team raised $5.6 million in seed funding earlier this year to develop structured products for crypto assets. Investors such as IOSG, Tomahawk, Republic, Framework Ventures and more participated in the funding.
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 return with weekly strangles to earn more every time ETH price bounces up or down.
Currently, ETH and stETH Pods platform users can deposit ETH and stETH into the stETHvv (short for stETH Volatility Vault) vault and expose themselves to a low-risk, complex-to-execute strategy with one click.
“At Pods, we are proud of what we have accomplished and look forward to continuing to build the future of DeFi. I am honored to announce that we have closed a $5.6 million seed round. The Pods team looks forward to this next phase of building world-class structured products for crypto assets. We spoke to hundreds of stakeholders to understand their needs and improve our platform based on their feedback. Recently, Pods conducted four security audits for its Pods Yield product, two of them with OpenZeppelin in November and December 2022. Not only do we generate results, we have developed a range of products that help DeFi protocols diversify their treasury into low-risk strategies , making their treasury strategy more resilient”
– Rafaella Baraldo, Founder and CEO of Pods
Today, most DeFi yield strategies depend on liquidity mining campaigns, take risk that is difficult to assess, and most utilize spot markets. Pods provide opportunities to set up automated derivatives strategies independent of liquidity reduction. Risk and return analyzes are transparent and quantitative.
As a DeFi protocol, Pods represents an alternative to yielding crypto assets, unlike CeFi lenders. Pods Yield is a set of open-source smart contracts that algorithmically execute a known investment strategy, receive deposits, and process withdrawals.
