The Venture Codex

Participated · Seed · Nov 2021

Seeded Network is a project incubator and DeFi platform built on Solana’s blockchain, designed to leverage borrowing, lending, and staking incentives to support investors and startups. The company raised $1.25M in funding to develop its project incubator and DeFi products. Seeded leverages Solana’s high throughput and low fees to enable staking, lending, and borrowing experiences, and recently announced partnerships with Chainlink and Waggle. Security firm CertiK is set to audit Seeded’s smart contracts ahead of launches of its staking, lending, and borrowing products. Its staking product lets users stake $SEEDED for seven days before an incubator project launch to gain an allocation, with tokens withdrawable at any time. Borrowing supports using existing assets and LP tokens as collateral and allows borrowed $SEEDED to be staked for ten days to receive allocations; lending includes “Locked Lending” of $SEEDED for 90 days that offers double allocation. Early withdrawal from borrowing and lending incurs a 30% penalty shared equally between stakers, the Seeded treasury, and Seeded’s community choice charity.