StakeStone Secures $22 Million Funding Round Led by Polychain Capital, with Strategic Investments from Binance Labs, and OKX Ventures
Singapore, November 11,2024
StakeStone proclaims the a hit completion of a $22 million investment spherical, led by Polychain Capital. This fundraise entails strategic investments from Binance Labs and OKX Ventures, seed spherical led by SevenX and participation from Nomad Capital, HashKey Capital, HashKey Cloud, Amber Neighborhood, Coinsummer, Bankless Ventures, DAO5, Symbolic Capital, Arcane Neighborhood, Quantstamp and extra. This investment positions StakeStone for accelerated convey as it expands its product offerings and strengthens its presence in key markets.
StakeStone is devoted to building the first real, yield-bearing liquid ETH, powered by an adaptive staking network that helps menace-free consensus layers with native property. Alongside with the fundraise, StakeStone is launching its BTC products SBTC, an index liquid BTC and STONEBTC a yield-bearing liquid BTC to toughen the utility of native BTC internal EVM ecosystems besides other Layer 1 and Layer 2 networks. StakeStone is committed to empowering key ecosystems and DeFi protocols alongside with partners corresponding to Berachain, Motion Labs, Monad, Plume Network, Corn, Pendle, AAVE DAO and others by providing excessive-utilization liquidity that drives true adoption.
StakeStone is additionally getting ready to unveil its price product which could embrace ingredients corresponding to flexible financial savings accounts powered by the yield-bearing liquid asset, STONE alongside with a Purchase-Now-Pay-Later (BNPL) chance, providing users with increased transaction flexibility. Developed with MegaETH’s true-time processing capabilities, this product is designed to place a sustainable mannequin that drives true-world utility and helps mass adoption.
“We’re extremely happy to work carefully with main funds take care of Polychain Capital, Binance Labs, OKX Ventures to collectively design the next-generation omnichain liquidity infrastructure for decentralized finance,” mentioned Charles Ample, co-founding father of StakeStone. “Their expertise and improve are needed to our ongoing innovation and the worldwide adoption of our products. On the same time, by this funding, we are committed to bringing DeFi into the true world. Alongside with true-time excessive-performance blockchain networks, we honest to onboard the next billion users by RWAFi and PayFi, propelling the crypto trade into the generation of expansive purposes.”
“The team at StakeStone has been pushing the boundaries of innovation, and we have their imaginative and prescient to integrate omnichain liquidity with excessive-performance blockchain networks is a recreation-changer. This partnership aligns perfectly with our investment philosophy of backing projects that will form the manner forward for the crypto ecosystem. We stay up for seeing the impact they’ll make as they scale and force adoption on a global stage,” mentioned Olaf Carlson-Wee, CEO, Polychain Capital.
“We have StakeStone is tackling a valuable need within the Web3 situation by advancing omnichain liquidity solutions that toughen both security and scalability across blockchains. The StakeStone team brings out of the ordinary expertise and a determined imaginative and prescient to the staking and liquidity landscape, making them a ideally suited match for our mission to improve pioneering projects that force the next wave of convey across decentralized infrastructure,” mentioned Ben Lakoff, Normal Accomplice, Bankless Ventures.
“StakeStone’s innovative liquidity infrastructure protocol is riding the manner forward for omnichain staking and liquidity distribution. Their unusual exercise of yield-bearing property take care of STONE ETH unlocks unusual capital efficiencies. We’re mad to improve their imaginative and prescient of setting up a transparent, decentralized and sustainable liquidity network across rising ecosystems take care of AI and DePIN,” mentioned Thomas Zhu, Co-Founder & CTO of Amber Neighborhood.
“Because the founding father of Manta, I’m mad to stare StakeStone’s most up-to-date fundraising success. With intensive expertise and innovative capabilities within the DeFi situation, StakeStone has repeatedly demonstrated a dedication to building excessive-quality decentralized financial infrastructure. Their good thing of curiosity on product model and emphasis on security are in particular commendable. I’m assured that with the improve of this unusual spherical of funding, StakeStone will lumber up its product and tech stack model, additional solidifying its leadership location within the trade,” mentioned Victor Ji, Co-founding father of Manta Network.
About StakeStone
StakeStone is committed to building the first real, yield-bearing liquid ETH/BTC, powered by an adaptive staking network that helps diversified menace-free consensus layers with native property. Yield alternatives are optimized by adaptable underlying suggestions the exercise of an on-chain proposal mechanism and omnichain liquidity is seamlessly redistributed across ecosystems and protocols. StakeStone is devoted to setting up unusual standards for liquid property and bettering liquidity distribution to invent standard person belief and adoption. For extra recordsdata, trudge to our net situation at stakestone.io or apply us on Twitter @Stake_Stone.
Published On: November 15, 2024
