In Brief:
- Liquid staking protocol pSTAKE raised $10 million in a strategic funding round.
- Sequoia Capital India, Three Arrows Capital, Galaxy Digital, and DeFiance Capital co-led the round with other investors.
- Investors in pSTAKE acquired Persistence’s native token(XPRT).
Liquid staking protocol pSTAKE raised $10 million in a strategic funding round led by Three Arrows Capital, Galaxy Digital, Sequoia Capital India, and DeFiance Capital.
Coinbase Ventures, Kraken Ventures, Tendermint Ventures, Alameda Research, Spartan Group, and Sino Global Capital were among the notable venture capital firms that participated in the funding round.
The angel investors included Aave’s Ajit Tripathi, Terra founder Do Kwon and Alpha Finance co-founder Tascha Punyaneramitdee.
The team behind Persistence, an interoperable Proof-of-Stake (PoS) protocol, developed pSTAKE. Cosmos, Ethereum, and other Tendermint-based chains are currently supported by Persistence’s multi-chain tech stack.
pSTAKE investors have now acquired XPRT, Persistence’s native token, in order to gain direct exposure to the entire Persistence ecosystem.
More than $30M worth of ATOM and XPRT has been staked using pSTAKE since the platform’s launch.
Tushar Aggarwal, CEO of Persistence, stated that the funding round will help foster and accelerate the growth of pSTAKE while also establishing its presence in the Cosmos and Ethereum ecosystems.
Recently Pawnfi.com raised $3M in a funding round to launch the first-ever liquidity protocol. Digital Currency Group led the round with several other investors participating.
