The streaming token protocol Superfluid has successfully raised $5.1 million.

The streaming token protocol Superfluid has successfully raised $5.1 million in a strategic funding round.

Led by Fabric Ventures, this funding round also saw participation from prominent names such as Multicoin Capital, Circle Ventures, Safe Foundation, and The LAO. CEO Francesco George Renzi stated that the round adheres to a Seed structure, offering equity with token guarantees attached.

Previously, in 2021, Superfluid successfully raised $9 million during its Seed round.

Superfluid's solution allows DAOs to streamline money transfers and monthly revenue distribution to members with a single on-chain transaction using "Super Tokens." From the sender's perspective, transferring funds is akin to depositing tokens into a distribution pool, with gas costs comparable to sending tokens to a single user. This capability enables organizations to use distribution pools to transfer funds to multiple recipients while effectively managing gas fees.

Superfluid's service partners include reputable entities like ENS DAO, Optimism, and Gitcoin. Currently, Superfluid supports its product across more than 10 different EVM networks. The proceeds from this new funding round will enable Superfluid's small team (currently comprising only 18 people) to expand and enhance functionality across various aspects.

When asked about the potential launch of a token in the future, CEO Renzi emphasized that the protocol aims for community governance, and any decision regarding token deployment will depend on community feedback. Renzi stated:

"We will explore many avenues to decentralize governance in the future."

This approach reflects Superfluid's commitment to community-driven development and decentralized management practices.