- StakeStone secures $22M funding to advance liquid staking for ETH and BTC.
- Binance Labs backs the BIO Protocol for decentralized scientific research development.
StakeStone recently closed a $22 million fundraising round led by Polychain Capital, with strategic investments from Binance Labs and OKX Ventures. This fundraising round reflects the increased interest in developing liquid staking solutions, particularly for Ethereum (ETH) and Bitcoin (BTC).
StakeStone uses an adaptive staking network supporting Ethereum’s consensus layer in order to offer a steady and rewarding staking experience. Charles K, co-founder of StakeStone, stated:
“We are excited to partner with leading funds like Polychain Capital, Binance Labs, OKEx Ventures to jointly build the next generation omnichain liquidity infrastructure for decentralized finance.”
StakeStone Expands Staking Solutions and Drives DeFi Adoption with New Partnerships
StakeStone is poised to improve its staking infrastructure with the capital infusion, therefore enabling safe and effective staking solutions for ETH and BTC investors. Launching liquid Bitcoin products, SBTC and STONEBTC, which are supposed to complement its current ETH staking solutions, is part of the company’s road map.
These products let users earn rewards without sacrificing asset liquidity, therefore satisfying the growing need for liquid staking in the crypto market.
Stake Stone’s objective transcends ETH and BTC staking as well. Key DeFi protocols and ecosystems such as Berachain, Corn, Pendle, Movement Labs, Monad, Plume Network, and AAVE DAO are actively under company collaboration.
StakeStone wants to propel significant adoption and real-world use cases inside the distributed finance field by giving these partners high-utilization liquidity.
As StakeStone’s contributions to the DeFi ecosystem grow essential for liquidity generation and decentralized apps, this calculated strategy is likely to help boost StakeStone’s position in the market.
Beside that, as we previously noted, Binance Labs has lately made investments in BIO Protocol, a distributed funding platform for early-stage scientific research via BioDAOs. This funding seeks to help the BioDAO ecosystem grow, thereby facilitating cooperation on projects like mental health treatments and cryopreservation.