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Unstable, a DeFi Protocol Raises $2.5M to Drive LRTfi Sector Forward

Writer's picture: TinaTina

DeFi Protocol

March 27, 2024


Unstable Protocol has raised $2.5 million in a seed funding round to advance the Liquid Restaking Token Finance (LRTfi) sector. The funding round included participation from several ETH-aligned funds, such as Lattice, Laser Digital (Nomura Group), Blockchain Founders Fund, Assouline Ventures, Agnostic Fund, Artichoke Capital, Black Edge Capital, NewTribe Capital, and NxGen.


Project

Latest Raise

Latest Raise

Stage

Total Raise

Category

Unstable Protocol

Mar 27 2024

$2.5M

Seed

 $2.5M

Decentralized Finance

The funds will be used to develop Unstable Protocol's zkOracles and establish it as the leverage layer for staked and restaked Ether. Unstable Protocol focuses on the LRTfi market, enabling users to leverage liquid staking and restaking tokens for yield strategies. The protocol allows users to borrow against their (re)staked ETH and unlock the utility of these assets on Layer-2 blockchains through a partnership with Axelar.


The LRT market has grown significantly, reaching approximately $50 billion recently. Unstable Protocol aims to capitalize on this growth by providing a native lending protocol for the LRTfi sector. The protocol's engine is powered by a zkSNARK-based validator and EigenLayer AVS balance proofs, which value collateral based on the underlying backing. This is supported by a partnership with Succinct Labs.


Unstable Protocol utilizes zkOracles to enhance the utility of DeFi for the LRT market. The protocol enables users to maximize returns on their staked and restaked ETH by providing a secure and efficient lending mechanism.


About Unstable Protocol

Unstable Protocol utilizes zkOracles to enhance DeFi utility for the LRTfi market. The protocol, backed by prominent web3 VCs and angel investors, enables users to borrow against their LST and LRT collateral and unlock the utility of their (re)staked ETH on L2 chains. Unstable Protocol's lending engine is powered by zkSNARK-based validator and EigenLayer AVS balance proofs.

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About Investor

Investor: Lattice Fund

Description: Lattice Fund is a venture capital firm focused on investing in blockchain and decentralized finance projects. The firm supports the development of technologies that aim to enhance the efficiency and security of financial systems.

Location:  United States





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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