Ether.Fi liquid-staking protocol raises $5.3 million in funding

The Ether.Fi project raised $5.3 million in a funding round led by North Island Ventures and Chapter One, according to The Block.

\n\n

A total of 35 investors participated. Among them: Node Capital, Arrington Capital, Maelstrom, Version One Ventures and Purpose Investments.

\n\n

Ether.Fi positions itself as a decentralised solution where keys are controlled by users. By depositing funds, participants receive NFTs with metadata. The latter, according to project representatives, will be used to further build out staking infrastructure.

\n\n

The funds raised by Ether.Fi will be allocated to expanding the development team and forging new partnerships.

\n\n

The protocol’s launch will take place on March 4, at the ETHDenver conference.

With the upcoming Shanghai in the Ethereum network upgrade, liquid-staking protocols have surpassed lending projects in aggregate TVL.

\n\n

\n\n

Earlier ForkLog reported that the daily inflow of deposits to the sector’s leading platform Lido Finance exceeded 150,000 ETH.