Polaris Secures $1M Angel Round with Ethereum Foundation Backing

Polaris has secured $1 million in an angel round backed by prominent blockchain and DeFi stakeholders. The Ethereum Foundation, Fusion, Altitude, Liquity, and LI.FI participated in the funding, along with more than 30 founders and contributors.

The startup is building a permissionless on-chain revenue protocol called Polaris. Its core product is pETH, an interest-bearing reserve asset designed to provide native yield for any asset on the chain, alongside USDp and GOLD.

The demand for on-chain returns has been increasing as investors seek revenue-generating crypto products. This funding round indicates continued investor appetite for infrastructure that turns idle on-chain assets into yield.