November 12, 2024
StakeStone has completed a $22 million funding round, spearheaded by Polychain Capital, with contributions from Binance Labs, OKX Ventures, and SevenX. The funding round includes investments from Nomad Capital, HashKey Capital, Amber Group, Coinsummer, and several other backers. The new funding will enable StakeStone to accelerate its offerings in omnichain liquidity solutions, aiming to support and enhance decentralized finance (DeFi) across multiple blockchain ecosystems.
Founded to optimize digital assets through secure, yield-bearing products, StakeStone is rolling out a series of offerings. The platform’s latest development is centered on BTC products—specifically SBTC, an index liquid Bitcoin, and STONEBTC, a yield-bearing variant—intended to boost liquidity across Ethereum-compatible networks and other Layer 1 and Layer 2 chains. StakeStone’s staking model integrates multiple consensus layers, creating a system where liquidity is dynamically distributed, supporting prominent partners such as Berachain, Movement Labs, and AAVE DAO.
Beyond asset products, StakeStone plans to introduce a new payment service featuring flexible savings accounts and a Buy-Now-Pay-Later (BNPL) option, powered by MegaETH’s processing capabilities. This planned payment solution is designed to provide DeFi users with enhanced transaction flexibility, a key step toward bridging DeFi with broader financial use cases. StakeStone aims to make its solutions available worldwide, promoting sustainable growth and encouraging broader adoption of DeFi technologies.
About StakeStone
StakeStone is a decentralized finance platform focused on building stable, yield-bearing digital assets in ETH and BTC. By leveraging an adaptive staking network, StakeStone aims to create scalable liquidity options for DeFi protocols and ecosystems, facilitating seamless integration with other blockchain networks.
Website: https://stakestone.io/#/home
X: @Stake_Stone
About Investors
Polychain Capital
Polychain Capital is a venture capital firm with a focus on investments in blockchain and cryptocurrency ventures. Polychain has become known for its involvement in early-stage projects that contribute to the evolution of decentralized financial infrastructure.
Location: San Francisco, California
Website: https://polychain.capital/
Binance Labs
Binance Labs is the venture capital and incubation arm of Binance, focused on supporting early-stage blockchain startups. It provides funding, mentorship, and access to the global Binance ecosystem to help projects scale and innovate.
Location: Hong Kong
Website: binancelabs.co
OKX Ventures
OKX Ventures, the investment arm of the OKX exchange, backs innovative blockchain projects shaping the future of Web3. It invests in emerging technologies with a focus on decentralized finance (DeFi), NFTs, and blockchain infrastructure.
Location: Seychelles
Website: https://www.okx.com/ventures
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