DeFi
Kelp DAO raises $9 million to boost DeFi and restaurant platform By Investing.com
Kelp DAO, one of the largest liquid redemption protocols, has secured $9 million in a private sale round to expand its infrastructure as the decentralized finance (DeFi) landscape grows bigger every day.
This new capital injection comes amid growing interest in liquidity buybacks, with the total value locked across major platforms exceeding $4 billion.
The latest round was led by SCB Limited, a Bahamas-based proprietary trading company, and Laser Digital, the digital assets arm of Nomura Global, who collectively invested $3.5 million.
Other participants in the round included Bankless Ventures, Hypersphere, Draper Dragon, DACM, Cypher Capital, ArkStream, Cluster Capital, GSR, Longhash, Side Door Ventures, NOIA Capital, HTX Ventures, Avid3, ViaBTC Capital, DWF Ventures, Coinseeker and many others. others. others.
Dheeraj Borra, Co-Founder of Kelp DAO, comments: “This fundraising propels our market expansion and further focuses us on creating customer-centric solutions. It’s really exciting to see our investors share this vision.
The two founders of Kelp DAO, Amitej Gajjala and Dheeraj Borra, expressed their gratitude for the investor support, which will lead Kelp DAO to reach new heights in restructuring solutions.
Kelp DAO plans to use the funds to upgrade its platform capabilities, expand to other ecosystems such as and and further review the solutions. This adds to the platform already boasting over $850 million in total value locked (TVL) and over 40,000 active restakers.
The funding round includes support from notable angel investors in the crypto community, such as Scott, co-founder of Gitcoin; Alex, CEO of Nansen; Sam K, co-founder of Frax; Marc Zeller, of Aave Chan Initiative; Saurabh Sharma of Jump Crypto; Amrit, COO of Altlayer; Anthony, co-founder of Swissborg; and Winslow Strong by Mr. Block.
Jez Mohideen, CEO of Laser Digital, said: “We are very pleased to support Kelp DAO and its passionate team on their journey towards creating innovative restructuring infrastructure solutions. »
Jack Platts, co-founder of Hypersphere Ventures, added: “We are excited about the prospect of recovery enabling more experimentation and use cases by developers. Kelp’s proven team and focus on user experience play a key role in Resttaking’s early success. We look forward to the team realizing their vision of improving returns and optionality for ETH stakeholders.
The idea behind liquid restocking proposed by Kelp and others is to allow ETH holders (whether they hold native ETH or LST tokens) to invest and restock without losing access to the underlying capital . This is why we talk about “liquid” retaking.
Kelp DAO’s Liquid Restaked Token (LRT) was the first to hit mainnet and currently offers service for native ETH and LST on Ethereum mainnet and eight L2 networks.