Bold start venture that also participates in investment in StakeWise
Los Angeles, March 2, 2022-(BUSINESS WIRE)-Blockdaemon, a leading financial institution-grade blockchain infrastructure company for node management and staking, today announced a strategic investment in Ethereum’s liquid staking protocol, Stake Wise. Did. For financial institutions and major tech companies. VC funds focused on boldstart ventures, developer-first and first-day investments in crypto infrastructure startups will also participate in the investment in StakeWise.
“Blockdaemon is excited to partner with StakeWise to create a KYC-based liquid staking solution for institutional investors,” said Konstantin Richter, CEO and founder of Blockdaemon. “By building liquid staking products for institutional investors on the Ethereum network, we are the way for clients to demand compliance requirements to utilize their capital bet on borrowing, lending, option creation, liquidity supply, etc. Is open. “
The new liquid staking solution is aimed at financial institutions and big tech companies with strict compliance requirements who are looking for exposure to the yields offered by staking Ethereum and leveraging the capital bet on DeFi. is. Customers from various institutions are already interested in using this product, which will be available at the end of the second quarter of 2022. The launch of testnet, an alternative Bitcoin blockchain used for testing, and the first validator this week. This gives prospective customers the opportunity to test their functionality in a secure, early environment prior to launching the mainnet.
“Organizational involvement in DeFi was expected in the next phase, so offering organization-grade products can feed back new revenue to unauthorized systems and accelerate space development and innovation. “Co-founder Kirill Kutakov said. Of Stake Wise. “By working with Blockdaemon, a leading infrastructure provider for financial institutions, we can provide a seamless experience for clients looking for a compliant way to join DeFi and make money safely.”
This protocol features authorized staken ETH tokens. That is, only whitelisted (read: KYCd) addresses can interact with the protocol. Bet ETH token representation gives clients access to authorized DeFi protocols that provide lending / borrowing capabilities, call and put option writing, interest rate swaps, and other innovations that increase the efficiency of bet capital. It is a prerequisite for opening.
The core technology of the new protocol is provided by StakeWise, with Blockdaemon initially acting as the only node operator. The protocol is managed by its own set of stakeholders outside the StakeWise governance process. Nevertheless, StakeWise DAO maintains the economic benefits of providing code for the new protocol, as a significant portion of the revenue of the new product flows directly to the StakeWise DAO Treasury Department.
To promote interest in new ventures and close collaboration with strategic partners, StakeWise will receive an investment in SWISE from Blockdaemon and boldstart. This transaction does not affect the share of the SWISE ownership community in the protocol.
Ed Sim, founder and managing partner of the boldstart venture, said: “This is a breakthrough opportunity as the need for secure and compliant liquidity options grows with Ethereum and can bring significant benefits to our customers and the entire ecosystem.”
To join and inquire about Early Access, please visit https://blockdaemon.com/liquid-staking/.
About the block daemon
Blockdaemon is the primary independent blockchain node infrastructure for stakeout, expansion, and deployment of nodes with organization-level security and monitoring. Supporting more than 50 state-of-the-art blockchain networks in the cloud and bare metal servers around the world, Blockdaemon connects commercial stakeholders to the blockchain through exchanges, custodians, crypto platforms, financial institutions, and developers. Used to do. Enhance blockchain economics by simplifying the node deployment process and creating scalable enterprise blockchain solutions through APIs, high availability clusters, and node auto-decentralization and auto-repair. For more information, please visit https: //blockdaemon.com/.
About boldstart ventures
The boldstart venture is a Day 1 partner and true believer for developers first, crypto infrastructure and SaaS founders. We work with technology founders long before the company is founded, leading pre-product rounds at the start, rallying networks and helping to turn bold ideas into iconic companies that create categories. .. We’ve been in the trench with Snyk, Blockdaemon, Kustomer, BigID, Superhuman (and many more) from day one.For more information about us and our complete portfolio, visit www.boldstart.vc @boldstartvc
About Stake Wise
StakeWise is Ethereum’s liquid staking protocol, which allows Ethereum holders to earn passive yields by staking without locking up their capital. All Ethers earned by deposit will be tokenized with StakeWise tokens in a 1: 1 ratio. This gives users the flexibility to finish staking at any time, earn additional yields on DeFi stakes, and manage their staking rewards. Launched in March 2021, StakeWise has accumulated over 50,000 ETH in deposits from retail clients and has attracted over $ 100 million in liquidity for its bet assets. This protocol is supported by Blockdaemon, Boldstart, Collider Ventures, Greenfield One, Gumi Cryptos and Lionschain Capital.
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