(MENAFN- GlobeNewsWire - Nasdaq)
BELGRADE, Serbia, April 27, 2022 (GLOBE NEWSWIRE) -- Streamflow is excited to announce a $3.1M seed round led by Jump Crypto with participation from Solana Ventures, GBV, MEXc Labs, Paribus Ventures, Hypersphere, IVC, Genblock Capital, AngelDAO, T3E, AmberGroup, Solidity Ventures, Ratio Finance and Huobi Ventures.
The capital raised in this round will go towards growing the team to build out a powerful, realtime token distribution suite for teams and treasuries on Solana.
Streamflow is a token distribution platform every organisation can use to distribute and stream value on Solana. This platform includes token vesting, payroll and batch payments all on top of a safe, secure multisig wallet. The Streamflow realtime value streaming vision is ultra flexible and efficient, for this reason Streamflow already offer the opportunity to cancel or transfer streamed transactions and the team will look to continue innovating with these values in mind.
'Programmable blockchains opened a world of possibilities. Streaming payments are one of them. Existing IT and financial infrastructure cannot support and guarantee continuous payments — but low fee, high-throughput blockchain can. This financial primitive is a building block for progressive payroll, fundraising, investing, equity vesting, subscriptions and many more pay-per-usage use cases. We envision a future where one can earn yield on a stream, collateralise it, trade it, break it down into smaller streams or group multiple streams into bigger ones. We envision a future where money never stops, money streams and flows,' said Malisha, founder of Streamflow.
'Latent demand for advanced token vesting and money streaming on Solana has been evident for some time now. As teams become increasingly distributed and projects continue to pay contributors via recurring streams of stablecoins and project tokens, primitives that help pre-program and manage these transactions become increasingly important. The Streamflow team has some of the most talented engineers in the Solana ecosystem building this product at breakneck pace. We couldn't be more excited to back Streamflow as they build the future of money streaming on Solana,' said Shanav K Mehta, VP Investments, Jump Crypto.
'Streamflow is solving a major pain-point that every developer encounters when building their project. By streamlining payroll, vesting schedules, and more, developers are able to focus on building their projects instead of having to worry about sending funds or structuring custom contracts to complete mundane operational tasks. We are excited to support Streamflow in its quest of increasing operational efficiency for teams building on Solana,' said Jack Platts, Co-Founder of Hypersphere.
With Jump Crypto as lead investor, Streamflow is gaining a strong partner with an impressive track-record (Phantom, Neon Labs, Saber, BlockFi, Coinlist, Trading View, and more) in growing and scaling pivotal crypto products.
With Solana Ventures, GBV, MEXc Labs, Paribus Ventures, Hypersphere, IVC, Genblock Capital, AngelDAO, T3E, AmberGroup, Solidity Ventures, Ratio Finance and Huobi Ventures Streamflow gains a first-rate, top group of advisors and network both in Solana and across the crypto space.
Streamflow is now audited and live on mainnet with over $150 million in value being streamed.
Streamflow's next steps include:
- Ramping up onboarding of teams onto the Streamflow token distribution suite
- Adding liquid vesting contracts
- Launching an intuitive and powerful multisig wallet
- Adding support for batch payments
- A comprehensive UI/UX upgrade
To stay up-to-date on all things Streamflow, follow Streamflow on Twitter and join the Discord server .
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