Veda Secures $18 Million to Enhance DeFi Vault Platform
Veda, a DeFi infrastructure firm, raised $18 million in a funding round led by CoinFund. The funds will support its platform that simplifies crypto yield products for apps and institutions.
Key points include:
- The main product is a modular vault framework allowing developers to create smart contracts for yield strategies.
- The vaults utilize Veda’s BoringVault standard and support applications like restaking tokens, yield-bearing stablecoins, and on-chain savings accounts.
- Since its launch in March 2024, Veda has processed deposits from over 100,000 users across various DeFi protocols.
- Veda manages over $3.7 billion in total value locked and plans to collaborate with a top-five centralized crypto exchange.
- Other investors in the funding round included Coinbase Ventures, Animoca Ventures, GSR, Mantle EcoFund, BitGo, and Draper Dragon.