Tenderize DeFi-stacking Protocol Attracts $3 million of Seed funding
The Tenderize derivatives stacking protocol raised $3 million in seed funding during a round led by Eden Block, a venture capital firm specializing in blockchain projects.
According to a statement released on Thursday, other investors in this round included Figment, a blockchain infrastructure company, Daedalus, a web3 angel investor collective, and TRGC, a digital asset investment company.
Tenderize is a protocol that allows users to take secured loans and trade tokens while maintaining a position on assets. The company believes that due to increased flexibility, it can unlock the full potential of the usefulness of assets placed in the stacking with the ultimate goal of providing publicly available non-custodial liquid stacking - a new form of stacking that seeks to reveal the value of the tokens delivered.
"The team's previous experience in projects such as Livepeer, Pocket Network and Yearn gave us an idea of the growing need for a better stacking experience for web3 protocols," said Tenderize co-founder Nico Vergauven. For a long time, users had to choose between liquidity and reward for stacking/protecting their network. With Tenderize liquid stacking, users have both."
Currently, the Tenderize team is working on integration with wallets, analytical platforms, custodial stacking partners and exchanges. It says that users can already access liquid stacking options for Leevepeer (LPT), The Graph (GRT), Audius (AUDIO) and Polygon (MATIC) tokens.
The increase follows other steps aimed at supporting liquid stacking protocols. In May, Coinbase and Figment announced that they would work together on the Alluvial institutional liquid stacking project.
https://coin-signal.com/cryptonews/tenderize-defi-stacking-protocol-attracts-3-million-of-seed-funding-2/
#Attracts, #Cryptonews, #DefiStacking, #Funding, #Million, #Protocol, #Seed, #Tenderize
#CryptoNews