Crypto platform Stader Labs raises $12.5 mn on $450 mn valuation
business-standard.comCrypto currency staking management platform Stader Labs, has raised $12.5 million in a strategic private sale that values the company up to $450 million.
The sale was led by Three Arrows Capital with additional participation from Blockchain.com, Accomplice, DACM, GoldenTree Asset Management, Accel, Amber, 4RC, Figment and select angels, including Prabhakar Reddy, Cofounder of FalconX and Matt Cantieri, GM at Anchor Protocol.
Stader previously raised $4 million from Pantera, Coinbase Ventures, Jump Capital, True Ventures, Hypersphere, Proof, Ledger Prime, Huobi Ventures, Solidity Ventures and Double Peak.
On the importance of the raise, Stader Labs CEO Amitej Gajjala said:“This capital will be strategically deployed to accelerate our cross-chain expansion, as well as to nurture our growing ecosystem of third-parties developing staking applications with decentralised Stader infrastructure.”
“Since launching in November 2021, there are over 15,000 unique wallets staking over 5.9 million LUNA with a total value locked of around $500 million. These numbers underscore both Stader’s early traction and the broader market opportunity in staking infrastructure,” says Kyle Davies of Three Arrows Capital.
Its two core products are Stake Pools, where users can safely and easily stake in pre-defined baskets of validators grouped by performance, and Liquid Staking, where users receive a liquid token (LunaX) when staking to participate in yield-boosting DeFi strategies.
In addition to Terra, Stader’s native modular smart contracts will soon support multiple chains, including Solana, Ethereum, Fantom, Hedera, and Polygon. The objective is to build an economic ecosystem to grow and develop custom solutions such as yield redirection with
Read more on business-standard.com
