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SuperBonds raises $3m to launch on Solana

Will create a market for fixed-interest rates.

SuperBonds, a Solana-based DeFi market, has just closed a seed funding round of $3mm, with oversubscribed interest.

The platform will launch DeFi’s first fixed-interest rate market, enabling users to generate guaranteed returns.

DeFi has shown a natural affinity for yield generation, and in the pursuit of higher yield, has left a gap for those seeking a fixed return for a fixed duration. “APYs are a misnomer. Yields are fleeting in this space, and little is known about what you will accumulate. SuperBonds will allow buyers to purchase fixed-duration, fixed interest-rate outcomes. The certainty of knowing that what you own will be worth X at some future point has strong implications; it’s not just about peace of mind, but also about creating a new form of collateral. Something that is appreciating, in your custody, and becomes usable elsewhere. That’s the idea,” said the CEO of SuperBonds.

The platform will initially be launched on Solana, but the aspiration is to become a cross-chain Dapp, and one that is transparently run fully on-chain and by the community. “Bridges as a standalone solution feel like they’re missing something. It’s like custody, the idea is to leverage it into something like PB. Likewise, bridging should be a natural function of Dapps being chain-agnostic and having a presence most everywhere. That would make the user experience more efficient,” he added.

SuperBonds will be sustained by SuperB, a deflationary gas token. The platform aims to be live in Q1 of 2022.

The round was led by Los Angeles based Commonwealth Asset Management and also included key crypto-native investors LVNA Capital, Polychain Capital, and Genesis Block Capital.

Media Contact
Company Name: SuperBonds
Contact Person: Media Relations
Country: United Arab Emirates
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