HYPERITHM Co., Ltd.
Hyperithm invests in Ethereum-based token streaming protocol “Superfluid” ……
HYPERITHM Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo, Representative Director: Lloyd Lee) is pleased to announce that it has invested in the Ethereum-based token streaming protocol “Superfluid.”
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About Superfluid
Superfluid is a revolutionary asset streaming protocol that allows you to pay salaries to DAOs and crypto-native businesses around the world based on fixed-term contracts.
With Superfluid, existing tokens are converted into “supertokens” with additional features such as recurring payments. Through this Super Token, it is now possible to pay salaries and compensation in transactions in a single transaction, and the Super Token allows for the flow of assets between two parties.
Superfluid also allows for “distribution pools” that allow the creation of pools of funds that can be distributed to multiple recipients. Streaming to a distribution pool is a single transaction, so the gas cost remains the same no matter how many recipients there are. This means that with Superfluid, developers can build streaming smart contracts that can scale to millions of users with fully predictable gas costs.
In December 2023, ENS DAO selected Superfluid to distribute a $5.4 million grant. Optimism also selected Superfluid to distribute 30 million OP tokens (approximately USD 114 million) from its Retroactive Public Goods Funding (RPGF), which will be distributed to over 500 leading projects and individuals in the Web3 industry and immediately You have been onboarded as a Superfluid user. We also recently launched a partnership with Gitcoin to build our first streaming quadratic funding initiative.
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Product page: https://www.superfluid.finance/
Comment from Superfluid CEO, Francesco Renzi
Superfluid is off to a hot start heading into 2024. We are working with multiple DAO leaders to streamline payment operations to contributors and sub-DAOs, and we are conducting pilots to
meaningfully demonstrate the power of Superfluid.
Comment from Hyperithm CEO Lloyd Lee
Given Hyperithm’s trading background, we are committed to supporting innovative projects like Superfluid. We believe that our innovative solutions that enable asset streaming will create a wave of potential new use cases that increase capital efficiency and enrich the flow of money. We are excited to be a part of Superfluid’s journey and look forward to seeing much of the team’s vision come to fruition. About Hyperithm Group
Since its founding in January 2018, Hyperithm has been operating a crypto asset wealth management business targeting institutional investors based in Japan and South Korea. In Japan, we have completed the notification of special business operations for qualified institutional investors, etc., and in South Korea, we have completed the notification of a crypto asset business equivalent to the crypto asset exchange business in Japan. In March 2022, we raised funding from Coinbase Ventures in a Series B bridge round. From May 2022, we will begin operating Japan’s first Bitcoin-denominated fund based on special operations for qualified institutional investors.
Additionally, in June 2022, we established the Web3 Fund with the aim of revitalizing the Web3 ecosystem and are actively investing. 【Company Profile】
Company name: HYPERITHM Co., Ltd.
Representative: Representative Director Lloyd Lee
Head office location: FINOLAB, 4th floor, Otemachi Building, 1-6-1 Otemachi, Chiyoda-ku, Tokyo
Established: January 2018
Number of officers and employees: 35 (including affiliated companies) Overseas base: South Korea
Company website: https://hyperithm.jp
Hyperithm Invests in “Superfluid,” an Ethereum-based token streaming protocol. Hyperithm has invested in “Superfluid,” an Ethereum-based token streaming protocol that enables real-time crypto transfers.
About Superfluid
Superfluid is a revolutionary asset streaming protocol that brings subscriptions, salaries, vesting, and rewards to DAOs and
crypto-native businesses worldwide.
It was launched in 2021 and lets crypto projects, such as
decentralized autonomous organizations, pay recurrent salaries and rewards in single on-chain transactions via its “super tokens.” Super tokens enable the creation of money streams between two parties. Today, Superfluid is launching “distribution pools” that enable the creation of a pool of funds that can be distributed to multiple recipients. This single transaction of streaming to a distribution pool has the same gas cost, whatever the number of recipients. This means developers can leverage Superfluid to build streaming smart contracts that can scale to millions of users while having totally predictable gas costs.
In December 2023, ENS DAO held an open procurement process and selected Superfluid to distribute $5.4M in developer grants. Optimism also selected Superfluid to distribute 30M OP tokens (approximately $114M USD) of their Retroactive Public Goods Funding (RPGF), which are being distributed to over 500 leading projects and individuals in the web3 industry instantly onboarding them as Superfluid users. Superfluid has also recently launched a partnership with Gitcoin, building the first Streaming Quadratic Funding initiative.
For more information, visit: https://www.superfluid.finance/ Francesco Renzi, Co-Founder & CEO of Superfluid’s Comment
“Superfluid is off to a hot start in 2024. We’ve been working closely with several DAO leaders to streamline their payment operations to contributors and sub-DAOs, and have several pilots in the works that meaningfully demonstrate the power of Superfluid”.
Lloyd Lee, Hyperithm CEO’s Comment
Given Hyperithm’s background in trading, we are committed to supporting innovative projects like Superfluid that have the potential to reshape operations in many industries. Its innovative solution, which enables assets to be streamed, will open up waves of potential new use cases that can encourage greater capital efficiency and enrich the flow of money. We are excited to be part of the team’s journey and look forward to seeing many of the team’s visions come to fruition. About Hyperithm Group
Since its foundation in 2018, Hyperithm, operating from Japan and Korea, has been heavily involved in developing its crypto asset wealth management business for an array of institutional investors as well as others. March 2022 marked another major milestone as Hyperithm completed a Series B bridge round funding from Coinbase Ventures. In May 2022, the company began managing Japan’s first Bitcoin-denominated fund under the Qualified Institutional Investors Exemption Program. In June 2022, we established a Web3 ecosystem fund with the aim of revitalizing the Web3 ecosystem and have been actively investing in promising projects that seek to positively contribute to the growth of Web3.
For more information, visit: https://hyperithm.jp
More details about this release:
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