Quick take:
- The strategic round was executed using a simple agreement for future equity with token warrants.
- The fundraising also attracted participation from Multicoin Capital, Circle Ventures, Safe Foundation, The LAO, and Taavet+Sten among others.
- Superfluid also announced the launch of โdistributed poolsโ, which allow users to stream tokens โ one-to-manyโ.
Superfluid has completed a $5.1 million strategic round led by Fabric Ventures. The fundraising also attracted participation from Multicoin Capital, Circle Ventures, Safe Foundation, The LAO, and Taavet+Sten among others.
The round was executed using a simple agreement for future equity with token warrants, which gives investors the right to receive equity when certain milestones are met.
The Ethereum-based token streaming protocol also announced the launch of its advanced streaming feature, โdistributed poolsโ, which enables users to stream tokens one-to-many streams.
Explaining the feature to The Block, Superfluid co-founder and CEO Francesco George Renzi said distributed pools allow users to distribute tokens to multiple recipients without negatively impacting gas fees.
“From a sender’s point of view, streaming to a distribution pool is like streaming to a single user,” Renzi said. “This single transaction has the same gas cost, whatever the number of recipients. This means developers can now leverage Superfluid to build streaming smart contracts that can scale to millions of users while having totally predictable gas costs.”
According to Superfluidโs X post announcing the fundraising, the company has already onboarded major clients including ENS DAO, Optimism and Allo Protocol.
Superfluid has already streamed more than $150 million in tokens for various clients this year and is currently averaging $1.5 million per day.
The company has already streamed over $110 million in OP tokens for over 500 Optimism contributors, while the ENS DAO earlier this month chose the protocol to stream $5.4 million in developer grants over the next 18 months.
Superfluid currently supports 10 Ethereum Virtual Machine (EVM)-compatible blockchain networks. It plans to remain within the Ethereum ecosystem for the foreseeable future, before expanding to other blockchains in the distant future, Renzi said.
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