chepicap.com
Even though the amount raised might seem rather small at first sight, Staked has big plans in store. Oriented at institutional customers, some of the best-known cryptocurrency investors have put their money on this project.
The $4.5 million funding round was led by Pantera Capital. Actually, Paul Veradittakit, partner at Pantera, will be joining Staked’s board of directors.
Other highlighted participants were Coinbase Ventures, Global Brain, Digital Currency Group, Winklevoss Capital, Fabric Ventures, Applied Crypto Ventures and Blocktree Capital. Jonathan Marcus, co-founder of the company, sent this tweet out acknowledging their participation:
I simply couldn't be any more proud, thrilled and grateful. My deepest gratitude to all of our partners! @PanteraCapital @acryptovc https://t.co/qZhN68ZXpt @coinbase @DCGco https://t.co/72rVYknWOF @fabric_vc @winklevosscap https://t.co/hyW8YnwzAr https://t.co/pUAQ8mgK7f
— jonathanmarcus (@jonathanmarcus) January 31, 2019
It seems as if the main attractive of Staked is enabling institutional investors to stake or lend their proof-of-stake currencies, earning block rewards that can yield 5-100% on a yearly basis, according to the press release.
Six cryptocurrencies are currently supported, namely Tezos, Dash, Decred, Livepeer, Factom and EOS. The customers that Staked expects to attract are top-tier crypto funds, venture capital funds, family offices and hedge funds.
Read more: Researchers find exploit in 26 proof-of-stake coins; Cardano unaffected; EOS faces 6 major problems, according to new study