Quick take:
- The Hyperliquid-based DeFi yield protocol enables users to directly generate yield, stake, and utilize their funds within the Hyperliquid portfolio.
- The company plans to use the fresh capital to accelerate the development of its composable yield infrastructure within the Hyperliquid ecosystem.
- Hyperbeat boasts a total value locked of more than $340 million, according to DeFiLlama data.
Hyperbeat, the DeFi yield-generating and token staking infrastructure layer, has completed $5.2 million in funding in a seed round led by Ether.fi and Electric Capital.
The fundraising also attracted participation from globally renowned crypto venture firms Coinbase Ventures, Chapter One, Selini, Maelstrom, and Anchorage Digital, as well as the locally based VC Nonce Classic, Hyperbeat announced on Friday.
The Hyperliquid-based DeFi yield protocol enables users to directly generate yield, stake, and utilize their funds within the Hyperliquid portfolio. The company plans to use the fresh capital to accelerate the development of its composable yield infrastructure within the Hyperliquid ecosystem.
Commenting on the announcement, Dave Hsu, General Partner at ether.fi Ventures stated, “Hyperbeat is the standard for native yield layers in Hyperliquid,” and added, “Their product development speed, vision, and deep understanding of the ecosystem will become a key element in next-generation decentralized finance (DeFi).”
Avichal Garg, General Partner at Electric Capital, added: “Hyperbeat is a project with outstanding technological capabilities and a strong understanding of the Hyperliquid community,” and continued, “Just as Hyperliquid has shifted the paradigm of on-chain trading, Hyperbeat is driving financial innovation by introducing liquid staking, lending, strategy vaults, and portfolio tools.”
According to data provided by DeFiLlama, Hyperbeat boasts a total value locked of over $340 million, as of this writing.
Kilian Boshoff, Co-founder of Hyperbeat, commented: “With this funding round, we aim to accelerate the development of a permissionless and composable yield infrastructure that provides services to traders, protocols, and institutions across the Hyperliquid ecosystem.”
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