November 12, 2024
Alluvial, a company focused on blockchain-based staking infrastructure, has completed a $4.3 million strategic funding round. The investment, led by Variant and supported by Ethereal Ventures, Brevan Howard Digital, F-Prime Capital, and Nascent, increases the firm’s total funding to $22.5 million. The newly raised capital is earmarked for expanding the Liquid Collective staking standard and addressing the needs of a growing institutional client base.
Since its establishment, Alluvial has focused on creating interoperable and regulatory-compliant staking systems. Its initial seed funding of $6.3 million in 2022 included contributions from major industry players like Coinbase, Kraken, and Figment. A subsequent $12 million Series A in 2023 brought in financial sector leaders, improving the capabilities and reach of the Liquid Collective. Liquid Collective provides staking tokens, such as Liquid Staked ETH (LsETH), that represent staked assets plus accrued rewards. These tokens are designed for accessibility and integration across decentralized and traditional financial platforms.
With $374 million in total value locked (TVL) and a 360% growth rate over the past year, Liquid Collective has become one of the fastest-growing Ethereum-based staking protocols. The platform now collaborates with 13 prominent partners, including Anchorage, Fireblocks, and BitGo. This latest funding round comes as institutional demand for staking solutions continues to rise, fueled by regulatory developments and the increasing adoption of exchange-traded funds (ETFs) focused on Bitcoin and Ethereum.
About Alluvial
Alluvial develops blockchain infrastructure and staking solutions aimed at institutional and enterprise clients. Its focus is on building interoperable systems that integrate onchain and traditional financial technologies. Alluvial supports Liquid Collective, a staking protocol designed for scalability and security.
Website: https://alluvial.finance/
X: @alluvialfinance
About Investor
Variant
Variant is a venture capital firm specializing in investments across decentralized technology and web3 projects. The firm partners with innovative startups to drive the adoption of blockchain solutions.
Location: Brooklyn, New York Website: https://variant.fund/
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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