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Ethereum 2.0 Staking Protocol StakeWise Raises $2M Ahead of Mainnet Launch
The project's staking pool is nearing launch after seven months of beta testing.
StakeWise, an Ethereum 2.0 staking protocol, has completed a $2 million private funding round ahead of its public launch.
STORY CONTINUES BELOW
- The round was led by Greenfield One, with Collider Ventures, Gumi Cryptos, Lionschain Capital and a number of private investors also joining, according to a press release Monday.
- "We've made StakeWise into a protocol where users can earn elevated yields and gain unparalleled control over their staked capital," said StakeWise co-founder Dmitri Tsumak.
- The investment comes as StakeWise approaches its mainnet release after a seven-month beta testing period with 1,400 participants, said the firm.
- To encourage early adopters, it also launched a campaign allowing the first 25,000 ether deposited into its pool to be eligible for distribution of 2% of its SWISE token supply.
- The rewards will be proportional to the amount deposited, the firm said.
- StakeWise claims it offers advantages over other Eth 2.0 staking platforms, citing a "unique tokenomics model and commitment to give majority voting power to the community."
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
