The provider of data on betting and other types of income from digital assets, Staking Rewards, closed the investment round for 3 million Swiss francs (~$3.2 million). Thus, crypto giants Galaxy Digital, Digital Currency Group (DCG) and CoinShares led the round.
1kx Capital, Sygnum Bank and a number of business angels also participated in the round. Lead investors integrate Staking Rewards services into their solutions. The Application Programming Interface (API) developed by the firm in particular use Coinbase and Bitcoin Suisse.
Furthermore, the startup will use the received funding to launch new products. Including those related to various asset indices with the possibility of staking.
The interests of private and institutional investors
Founded in 2018, Staking Rewards serves the interests of private and institutional investors. In addition, the platform offers real-time market data on staking, portfolio creation and calculator. As well as conducts research.
According to the company, more than 400 thousand investors use it every month. Moreover, the number of page views exceeds 4.7 million.
Representatives of the startup estimated the volume of the staking market at $9 billion, for the year the growth rate was 1550%.
Liquid staking protocol pSTAKE raised $10 million
Recall that previously, Liquid staking protocol pSTAKE raised $10 million. Three Arrows Capital, Sequoia Capital India, Galaxy Digital and Defiance Capital Invest led the round.
Coinbase Ventures, Tendermint Ventures, Alameda Research, Kraken Ventures, Sino Global Capital, Spartan Group, Stake.fish validators, Figment Fund, Everstake, Chorus One and Cosmostation, as well as some business angels, participated in the round.
pSTAKE allows you to “unlock” the liquidity of the tokens in the staking. Therefore, holders can issue an appropriate number of ERC-20 standard coins. They can be used in the Ethereum decentralized finance (DeFi) ecosystem to receive a staking reward and in other profitable yield farming cases.