Superfluid Becomes Part of the Eterna Capital Portfolio
We are excited to officially announce our recent investment into Superfluid.
OFFICIAL ANNOUNCEMENT here.
Superfluid is an Ethereum-based token streaming protocol that enables real-time crypto transfers.
Our investment in their recent strategic round was led by Fabric Ventures, with participation from Multicoin Capital, Circle Ventures, Safe Foundation, The LAO, among others.
The Superfluid protocol allows crypto projects, such as decentralized autonomous organizations (DAOs), to pay recurrent salaries and rewards in single on-chain transactions via its “super tokens”. Super tokens enable the creation of money streams between parties.
Superfluid also announced the launch of its “Distribution Pools” that enable the creation of a pool of funds that can be distributed to multiple recipients.
“From a sender’s point of view, streaming to a distribution pool is like streaming to a single user,” Francesco Renzi, Co-Founder and CEO of Superfluid said. “This single transaction has the same gas cost, whatever the number of recipients. This means developers can leverage Superfluid to build streaming smart contracts that can scale to millions of users while having totally predictable gas costs.”
Superfluid Protocol V1 is now feature complete with the launch of scalable one-to-many streaming via the “Distribution Pools”.
The team has secured some high-profile clients, including ENS DAO and Optimism powering their grants communities. They have recently reached $150M in total volume streamed to date, and are currently moving more than $1.5M/day.
Superfluid currently supports 10 Ethereum Virtual Machine (EVM)-compatible blockchain networks, with Scroll being its latest addition. The protocol aims to focus on the Ethereum ecosystem for the foreseeable future and hopes to expand to other blockchain ecosystems at some point.
With our participation in this round, we are pleased to be part of Superfluid’s mission to build out money streaming as a new core primitive for DeFi. At Eterna we envision further permeation into traditional financial rails, under greater regulatory oversight, towards solving real-world problems.We strongly believe in a world where money is superfluid, where payments flow frictionlessly across the economy, at the speed of the internet.
About Superfuild
Superfluid is a revolutionary asset streaming protocol that brings subscriptions, salaries, vesting, and rewards to DAOs and crypto-native businesses worldwide.
For more information, visit https://www.superfluid.finance/ or follow Superfluid on Twitter.
About Eterna Capital
Eterna Capital is an investment company focused on blockchain technology. Eterna Capital supports entrepreneurs that envision bold innovative ideas, and have the plan in place to make them happen. Eterna Capital is committed to help them reach their ambitious goals by providing unique insights and support.
For more information, visit www.eternacapital.com or follow Eterna Capital on LinkedIn and Twitter.
Disclaimer: This post is for general information purposes only. It does not constitute investment advice or a recommendation or solicitation to buy or sell any investment and should not be used in the evaluation of the merits of making any investment decision. It should not be relied upon for accounting, legal or tax advice, or investment recommendations. This post reflects the current opinions of the authors and does not necessarily reflect the opinions of Eterna Capital, its affiliates, or individuals associated with Eterna Capital. The opinions reflected herein are subject to change without being updated.
