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Writer's pictureJean D

StakeStone, a Liquid ETH/BTC Adaptive Staking Network, Secures $22M Investment Round Led by Polychain Capital, Binance Labs, and OKX Ventures

StakeStone

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.

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


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


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


A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.


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