Veda Secures $18 Million to Expand DeFi Yield Products

Veda, a decentralized finance (DeFi) infrastructure company, has successfully secured $18 million in a funding round led by CoinFund. This investment is aimed at expanding Veda's platform, which simplifies the process of offering crypto yield products to apps and institutions across various blockchains. The company's primary product is a modular vault framework, allowing developers to create smart contracts that manage yield strategies without exposing users to the complexities of DeFi. The vaults, built on Veda’s BoringVault standard, support a wide range of applications, including 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, part of a growing network of DeFi protocols and fintech platforms. Notable products that have integrated Veda's infrastructure include ether.fi’s eBTC and weETHs, Plasma’s Vault, and pre-deposit campaigns for Berachain and TAC. Additionally, wallets like Binance Wallet and Bybit Web3 are also integrating Veda's technology. Veda currently oversees over $3.7 billion in total value locked. The company plans to partner with a top-five centralized crypto exchange in the near future. The funding round also saw participation from other notable investors, including Coinbase Ventures, Animoca Ventures, GSR, Mantle EcoFund, BitGo, and Draper Dragon.

This investment underscores the growing demand for simplified DeFi yield products. By enabling apps and institutions to offer these products without the need for deep technical expertise, Veda is positioning itself as a key player in the DeFi ecosystem. The company's modular vault framework and its ability to process deposits from a large user base demonstrate its potential to drive further adoption of DeFi technologies. The funding will likely accelerate Veda's expansion and innovation in the DeFi space, making it easier for more users and institutions to access and benefit from decentralized financial services.

The move underlines the increasing institutional interest in advanced DeFi infrastructure. Veda's aim to streamline on-chain yield products may bolster mainstream financial adoption. The involvement of prominent VCs in this round signifies growing market confidence. Veda's infrastructure-first approach could drive institutional participation in DeFi. The company’s modular vaults support diverse yield applications, showing industry relevance. With over $3.7 billion TVL as reported, Veda's impact on the DeFi ecosystem is significant. The company's vaults, suitable for different yield-bearing products, promise compliance and risk management, critical in today's evolving regulatory ecosystem.

Potential outcomes include enhanced institutional acceptance and further refinement of DeFi infrastructure. This funding could set a precedent for future investments in decentralized financial ecosystems, aligning with both market demands and regulatory trends. CoinFund led this funding initiative, marking a strong institutional endorsement for Veda’s strategy. The funds will bolster resource allocation towards deeper integration with multi-blockchain platforms, potentially increasing mainstream adoption of Veda's products.