Singapore, November 11,2024
StakeStone announces the successful completion of a $22 million investment round, led by Polychain Capital. This fundraise includes strategic investments from Binance Labs and OKX Ventures, seed round led by SevenX and participation from Nomad Capital, HashKey Capital, HashKey Cloud, Amber Group, Coinsummer, Bankless Ventures, DAO5, Symbolic Capital, Arcane Group, Quantstamp and more. This investment positions StakeStone for accelerated growth as it expands its product offerings and strengthens its presence in key markets.Â
StakeStone is dedicated to building the first stable, yield-bearing liquid ETH, powered by an adaptive staking network that supports risk-free consensus layers with native assets. Along with the fundraise, StakeStone is launching its BTC products SBTC, an index liquid BTC and STONEBTC a yield-bearing liquid BTC to enhance the utility of native BTC within EVM ecosystems as well as other Layer 1 and Layer 2 networks. StakeStone is committed to empowering key ecosystems and DeFi protocols including partners such as Berachain, Movement Labs, Monad, Plume Network, Corn, Pendle, AAVE DAO and others by providing high-utilization liquidity that drives real adoption.
StakeStone is also preparing to unveil its payment product which will include features such as flexible savings accounts powered by the yield-bearing liquid asset, STONE along with a Buy-Now-Pay-Later (BNPL) option, providing users with greater transaction flexibility. Developed with MegaETH’s real-time processing capabilities, this product is designed to establish a sustainable model that drives real-world utility and supports mass adoption.
“We are thrilled to work closely with leading funds like Polychain Capital, Binance Labs, OKX Ventures to jointly build the next-generation omnichain liquidity infrastructure for decentralized finance,” said Charles K, co-founder of StakeStone. “Their expertise and support are crucial to our ongoing innovation and the global adoption of our products. At the same time, through this funding, we are committed to bringing DeFi into the real world. Together with real-time high-performance blockchain networks, we aim to onboard the next billion users through RWAFi and PayFi, propelling the crypto industry into the era of super applications.”
“The team at StakeStone has been pushing the boundaries of innovation, and we believe their vision to integrate omnichain liquidity with high-performance blockchain networks is a game-changer. This partnership aligns perfectly with our investment philosophy of backing projects that will shape the future of the crypto ecosystem. We look forward to seeing the impact they will make as they scale and drive adoption on a global level,” said Olaf Carlson-Wee, CEO, Polychain Capital.
“We believe StakeStone is tackling a critical need in the Web3 space by advancing omnichain liquidity solutions that enhance both security and scalability across blockchains. The StakeStone team brings exceptional expertise and a unique vision to the staking and liquidity landscape, making them a perfect fit for our mission to support pioneering projects that drive the next wave of growth across decentralized infrastructure,” said Ben Lakoff, General Partner, Bankless Ventures.
“StakeStone’s innovative liquidity infrastructure protocol is driving the future of omnichain staking and liquidity distribution. Their novel use of yield-bearing assets like STONE ETH unlocks new capital efficiencies. We’re excited to support their vision of building a transparent, decentralized and sustainable liquidity network across emerging ecosystems like AI and DePIN,” said Thomas Zhu, Co-Founder & CTO of Amber Group.
“As the founder of Manta, I’m excited to see StakeStone’s latest fundraising success. With extensive experience and innovative capabilities in the DeFi space, StakeStone has consistently demonstrated a commitment to building high-quality decentralized financial infrastructure. Their strong focus on product development and emphasis on security are particularly commendable. I’m confident that with the support of this new round of funding, StakeStone will accelerate its product and tech stack development, further solidifying its leadership position in the industry,” said Victor Ji, Co-founder of Manta Network.
About StakeStone
StakeStone is committed to building the first stable, yield-bearing liquid ETH/BTC, powered by an adaptive staking network that supports various risk-free consensus layers with native assets. Yield opportunities are optimized through adaptable underlying strategies using an on-chain proposal mechanism and omnichain liquidity is seamlessly redistributed across ecosystems and protocols. StakeStone is dedicated to establishing new standards for liquid assets and enhancing liquidity distribution to earn widespread user trust and adoption. For more information, visit our website at stakestone.io or follow us on Twitter @Stake_Stone.