HYPERITHM Backs Superfluid’s Ethereum-Based Token Streaming Innovation
Reading Time: 2 minutes
HYPERITHM, a South Korean virtual asset financial services company, has invested in Superfluid, an Ethereum-based token streaming protocol. Launched in 2021, Superfluid is designed to offer subscription, payroll, vesting, and rewards services to Decentralized Autonomous Organizations (DAOs) and virtual asset operators. This protocol enables DAOs and virtual asset operators to distribute periodic salaries and rewards through a single on-chain transaction by using “Super Tokens,” thereby generating a cash flow between two parties over a predetermined period.
Superfluid recently launched a “Distribution Pool,” which allows multiple recipients to receive asset distributions. This feature facilitates the distribution of virtual assets to numerous recipients without fees through a single on-chain transaction, making it possible to develop services that affordably manage asset distribution to millions of users.
In December 2023, ENS DAO, an operator of an Ethereum-based wallet address service, opted to use Superfluid for distributing $5.4 million in developer grants. Similarly, Optimism, a Layer 2 chain on Ethereum, selected Superfluid to distribute 30 million OP tokens (valued at approximately $114 million) to support over 500 projects within the Web3 ecosystem. Additionally, Superfluid recently embarked on an asset streaming-based distribution project in partnership with Gitcoin, a virtual asset crowdfunding platform.
Francesco Renzi, co-founder and CEO of Superfluid, stated, “Superfluid is actively collaborating with numerous DAOs to simplify virtual asset payment structures in 2024. We have several pilot projects underway that highlight Superfluid’s capabilities.”
Wonjun Lee, CEO of HYPERITHM, commented, “Superfluid is an innovative project that allows for the customized streaming of virtual assets, expected to enhance the operational efficiency of virtual asset projects in various sectors. We are delighted to participate in this process and eagerly anticipate the realization of the Superfluid team’s vision.”
- SOPOONG VENTURES Joins Funding for Israel-Based AI Foodtech Company BioRaptor
- SparkLabs to Host Saudi Market Entry Strategy Seminar on the 19th in Seoul
- 461 Korean Accelerators, 667.1 Billion KRW Investment in 2023
- SOPOONG VENTURES Invests in 29 Startups with KRW 14.1 Billion Fund Last Year
- Korea Accelerator Association Partners with Vietnam BSSC for Startup Ecosystems
- Gyeonggi CCEI and Asia2G Capital Sign MOU to Globalize Korea’s Startup Ecosystem
- Hashed Leads $37M Investment in Taiko Labs for Ethereum Layer 2 Expansion
- Webcash Makes Strategic KRW 5 Billion Investment in ISTN to Broaden SAP-Integrated Solutions
- NewKIDS INVESTMENT Fuels Growth of Three Regional Startups : Waro, Dello, and LPartners
- AI Angel Club’s Impactful Journey: KRW 25 Billion Invested in 67 Startups Over Nine Years
[Korean Startup Weekly News #8] Korea’s Startup Boom: Mega-Funding Highlights in February 2024 – 와우테일(WOWTALE)
[…] HYPERITHM Backs Superfluid’s Ethereum-Based Token Streaming InnovationHYPERITHM has invested in Superfluid, aiming to revolutionize virtual asset services by enabling streamlined token streaming on Ethereum, facilitating efficient distribution for DAOs and virtual asset operators. […]