Kevin Owocki, the co-founder of Gitcoin, has announced his latest venture, Supermodular, at the ETHDenver conference. Supermodular aims to be a venture studio for regenerative Web3 projects, focusing on regenerative finance projects rather than decentralized finance. ReFi, popularized by Owocki and Gitcoin co-founder Scott Moore, is about leveraging DeFi’s upside while upending its more exploitative properties. ReFi pulls in environmentally conscious Ethereans as well as those who don’t view Oliver Stone’s Wall Street as a codex for crypto. In his 2015 essay “Regenerative Capitalism,” impact investing pioneer John Fullerton described regenerative capitalism as a system that “creates conditions conducive to life.” Supermodular aims to create a similar system in the Web3 space.
