Stader Labs – a crypto staking management platform – has reportedly managed to obtain $4 million via fundraising, to support its marketing campaign as well as growth throughout NEAR, Ether, Polkadot blockchains.
Specifically, the fundraising was reportedly carried out by Pantera Capital, which witnessed a variety of high-profile venture capital funds, blockchain foundations and angel investors joining, nominally Coinbase Ventures, True Ventures, Hypersphere, TerraForm Labs and the Solana Foundation.
Stader Labs reportedly forms DeFi protocols and applications into a simplified staking option, dedicated to delegators, in an effort to help them generate the highest returns possible.
The services rolled out at the moment reportedly are staking, liquid staking, derivatives and gaming together with high-yield strategies.
“We hope to empower cryptoasset staking throughout the financial sector, making it easy and intuitive for investors to stake assets and generate returns.” Co-founder and CEO of Stader Labs Amitej Gajjala shared the remarks regarding the development.
A report conducted by JPMorgan Chase in July reportedly revealed their estimation of Ethereum’s transition to a proof-of-stake consensus mechanism will help amplify the staking returns, jumping to $20 billion from the $9 billion benchmark.
In August this year, before Ethereum’s EIP-1559 upgrade took place, Head of Pantera Capital – Dan Morehead – reportedly shared his prediction that Ether (ETH) will exceed Bitcoin (BTC) and take the leading role of a crypto asset, with reasons related to its mining energy consumption as well as the broad effect it has on DeFi.