Stader Labs, a cryptocurrency management platform, on Thursday announced a $4 million funding round to accelerate development across blocks including Ethereum, Near and Polkadot, as well as expand its marketing campaigns.
The funds were raised by Pantera Capital with the participation of a large number of venture capital funds, blockchain funds and business angels, including Coinbase Ventures, True Ventures, Hypersphere, TerraForm Labs and Solana Foundation.
Stader Labs combines decentralized financial (DeFi) protocols and software to simplify delegate work in an effort to maximize returns. The current offer includes betting, floating rates, derivatives and games, as well as high return strategies.
Co-founder and CEO of Stader Labs Amitei Gajala commented on the company’s ambitions:
“We look forward to bringing crypto asset creation efforts across the entire financial sector so that investors can easily and intuitively own assets and generate profits.”
A report by JPMorgan Chase in July said that moving Ethereum to a consistent verification mechanism would increase payments from $9 billion to $20 billion.
In early August, ahead of the Ethereum EIP-1559 update, Pantera Capital CEO Dan Morehead predicted that Ether (ETH) would overtake Bitcoin (BTC) as the leading crypto asset, citing the potential of power-hungry mining and its significant impact on DeFi as reasons. growth.
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Commenting on Stader’s increased funding, Pantera Capital Partner Paul Veradetakte said:
We will provide aggregation and decentralization of investments in assets and derivatives for both protocols and auditors. We believe that the user experience can be improved for both retailers and organizations, and Stader Labs is poised to play an important role in the collective decision-making of its stakeholders. “