Stader Labs, a cryptocurrency management platform, on Thursday announced a $ 4 million round of funding to accelerate the development of several blocks, including Ethereum, Near and Polkadot, and to expand its marketing campaigns.

The fundraiser was conducted by Pantera Capital with the participation of a number of well-known venture capital funds, blockchain institutions and business angels, including Coinbase Ventures, True Ventures, Hypersphere, TerraForm Labs and Solana Foundation.

Stader Labs combines Decentralized Finance (DeFi) protocols and applications into a simplified bidding solution for delegates who want to increase revenue. The current offer includes betting, liquid betting, derivatives and games, as well as high-return strategies.

Stader Labs co-founder and CEO Amitei Gajala commented on the company’s ambitions:

“We hope that cryptocurrencies will accumulate in the financial sector, making it easy and intuitive for investors to buy assets and generate profits.”
A report released by JPMorgan Chase in July said Ethereum’s transition to a consensus proof-of-effort mechanism would increase dividends from $ 9 billion to $ 20 billion.

In early August, ahead of the Ethereum EIP-1559 update, Dan Morehead, CEO of Pantera Capital, predicted that Ether (ETH) would take over Bitcoin (BTC) as the leading cryptocurrency asset, citing its energy-intensive mining capacity and significant impact. on DeFi as a reason. … for growth.

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Commenting on the increase in Stader financing, Pantera Capital partner Paul Veradetakte said:

“We will ensure the aggregation and decentralization of assets and derivatives for efforts, both by protocol and validator. We believe the usability of staking can be improved for both dealers and companies, and Stader Labs is ready to play an important role in the introduction of staking. solutions on a massive scale. ”

Source: CoinTelegraph