About

Veda is a DeFi vault infrastructure provider whose BoringVault framework lets exchanges, fintechs, wallets, and protocols offer onchain yield products without exposing users to DeFi's operational complexity. Vaults are non-custodial and restrict strategy execution to a Merkle-verified allowlist of pre-approved actions, with configurable compliance controls such as address whitelists and deposit permissions. Veda was founded in 2024 by the team behind Seven Seas Capital and powers products including Kraken DeFi Earn and ether.fi Liquid.

History

Veda was founded in early 2024 by Sunand Raghupathi (CEO), Joseph Terrigno (CTO), and Stephanie Vaughan (COO), who had previously built vault strategies on Sommelier as the team behind Seven Seas Capital. The founders' thesis is that users and institutions want onchain yield without handling DeFi's operational complexity, and that the missing layer between end users and protocols is secure, programmable vault infrastructure that product teams can embed directly.

Veda's core product is the BoringVault framework. The vault contract is deliberately minimal and delegates functionality to modules: a Teller processes deposits and withdrawals and mints vault shares, an Accountant maintains the share price, and a Manager restricts strategist actions to a Merkle tree of pre-approved calls. This allowlist design lets a single vault allocate across multiple chains and protocols while bounding what a curator can do with depositor funds. Partners configure compliance controls such as address whitelists and deposit permissions and can deploy vaults under their own branding, with integration covered in Veda's documentation.

• March 2024: BoringVault framework launches
• 2024: ether.fi selects Veda to power its Liquid vaults, which later surpass $1B in deposits
• June 2025: Raises $18M in a round led by CoinFund with participation from Coinbase Ventures, GSR, Maelstrom, Animoca Ventures, BitGo, and others, reporting $3.7B in deposits and more than 100,000 users
• January 2026: Kraken launches DeFi Earn on Veda vaults across Ethereum and Ink, with vaults curated by Chaos Labs and Sentora
• March 2026: Kraken DeFi Earn passes $100M in deposits across more than 24,000 users
• May 2026: Kraken launches a Bitcoin vault within Kraken Earn, powered by Veda and operated by Sentora
• June 2026: Veda vaults become available to developers building on Privy, and Kraken Earn deposits in Veda vaults exceed $400M