Stader Labs, a crypto currency staking management platform, raised $12.5 million in a strategic private offer valued at up to $450 million.
Three Arrows Capital led the round, with Blockchain.com, Accomplice, DACM, GoldenTree Asset Management, Accel, Amber, 4RC, Figment, and a group of angel investors, including Prabhakar Reddy, Cofounder of FalconX, and Matt Cantieri, GM of Anchor Protocol, also participating.
Pantera, Coinbase Ventures, Jump Capital, True Ventures, Hypersphere, Proof, Ledger Prime, Huobi Ventures, Solidity Ventures, and Double Peak previously invested $4 million in Stader.
On the importance of the raise, Stader Labs CEO Amitej Gajjala said: “This capital will be strategically deployed to accelerate our cross-chain expansion, as well as to nurture our growing ecosystem of third-parties developing staking applications with decentralised Stader infrastructure.”
“Since launching in November 2021, there are over 15,000 unique wallets staking over 5.9 million LUNA with a total value locked of around $500 million. These numbers underscore both Stader’s early traction and the broader market opportunity in staking infrastructure,” says Kyle Davies of Three Arrows Capital.
Stake Pools, where users can stake in pre-defined baskets of validators grouped by performance, and Liquid Staking, where users earn a liquid token (LunaX) while staking to participate in yield-boosting DeFi schemes, are the company’s two main products.
Stader’s native modular smart contracts will support numerous chains in the near future, including Solana, Ethereum, Fantom, Hedera, and Polygon, in addition to Terra. The goal is to create an economic ecosystem that will allow custom solutions like yield redirection with rewards, liquid staking, launchpads, gaming, and more to grow and evolve.
“These tools will bring Stader closer to its vision to be the most convenient and safe non-custodial staking platform — and a core ally in the future of finance thanks to its embedded decentralization for L1s,” says Do Kwon of Terra. “We’re excited to continually support Stader as a leading Terra ecosystem project and lynchpin of the next evolution of staking infrastructure.”
