Stader Labs Announces Strategic Funding of $12.5M, Earns Acclaim from Terra Founder Do Kwon

Stader Labs, a crypto company building decentralized finance or DeFi products for proof-of-stake blockchain networks, announced on Thursday that it had raised $12.5 million in a private sale. The round was led by Three Arrows Capital, with participation from Blockchain.com, Accomplice, DACM, GoldenTree Asset Management, Accel, Amber, 4RC, Figment and anger investors. That gives Staber Labs a valuation of $450 million.

Amitej Gajjala, CEO of Stader Labs, made the following comments on the development:

This funding will be strategically deployed to accelerate our cross-chain expansion and nurture our growing third-party ecosystem to develop staking applications through a decentralized Stader infrastructure.

The two core products of Stader Labs are Stake Pools and Liquid Staking. Stake pools enable retail and institutional investors to earn staking rewards in predefined validator baskets grouped by performance. at the same time, Liquid pledge Allows users to receive liquid tokens (LunaX) upon staking, which can then be deposited into other DeFi protocols for yield. It is a derivative of the original token and may have compounded returns and compounded risks.

According to Kyle Davies, co-founder of Three Arrows Capital, more than 15,000 unique wallets are now staked on Stader Labs, with a total locked value of around $500 million. Its protocol was launched last November.

Currently, Stader Labs only supportsLuna) blockchain, but plans to expand to Solana (Sol), Ethereum (Ethereum), Fantom, Hedera, and Polygon (MATIC). Terra founder and CEO Do Kwon commented:

These tools will bring Stader closer to its vision of being the most convenient and secure non-custodial staking platform, and a core ally of the future of finance thanks to the decentralization of its embedded layer-one solution.