Kintsu secures US$4 million in seed funding led by Castle Island Ventures to promote Monad DeFi through liquidity staking

[PRESS RELEASE – New York, New York, July 25th, 2024]

Kinzuis an revolutionary liquid staking protocol and is happy to announce the profitable completion of a $4 million seed spherical of financing. This spherical of financing is supplied by Castle Island Ventures, and acquired further assist from well-known buyers, together with Brevan Howard Digital, CMT Digital, Spartan Group, Breed VC, Arche Capital, CMS Holdings, Animoca Ventures, F-Prime Capital (a enterprise capital fund affiliated with Constancy Investments mum or dad firm FMR LLC )), Reciprocal Ventures and LBank Labs. Distinguished angel buyers reminiscent of Lido’s Marin Tvrdić and Wormhole’s Robinson Burkey additionally participated within the spherical, together with Switchboard’s Chris Hermida, Brevan Howard Digital’s Alex Matthews and Ross Trachtman, Renaud Companions’ Geoff Renaud and Fintech Collective’s Sean Lippel .

Promote liquidity staking innovation

Kintsu is ready to revolutionize the DeFi house with its next-generation cellular staking answer. Traditionally, Stake and DeFi have needed to compete with one another on the safety and liquidity of base layer tokens. Kintsu supplies composable staking rewards for Monads, enhancing liquidity and enhancing the safety of parallel EVMs. By means of a decentralized validator registry, Kintsu’s core sensible contracts are designed in order that validators can be part of with out permission, whereas the neighborhood controls every validator’s share of the whole staking pool. The funding will assist speed up the event and development of Kintsu’s composable liquidity staking middleware list.

Strategic imaginative and prescient and future plans

With the success of its seed spherical, Kintsu is poised to develop the Monad DeFi ecosystem by offering builders with a turnkey method to combine staking into their protocols. At Kintsu, they imagine that DeFi can be extra environment friendly with LST because the core routing token and collateral. Kintsu builds on giants like Lido and Jito, leveraging finest practices developed from the multi-billion greenback TVL protocol whereas advancing DAO participation.

The “liquidity” staking protocol (“LST”) class is primarily pioneered by Ethereum. After the Beacon Chain first got here on-line, Genesis validators had been unable to unstake for an unknown interval of greater than 1,000 days earlier than the merger was accomplished. Kintsu is certainly a “liquidity” staking protocol, however maybe extra importantly, it’s a “combinable” staking protocol.

About Jintong

Kinzu On the forefront of DeFi innovation, offering next-generation liquidity staking infrastructure that delivers enhanced liquidity and safety via composable staking rewards. Kintsu’s platform is constructed on the Monad community and is designed to satisfy the ever-changing wants of the digital asset ecosystem, making certain a seamless and probably rewarding staking expertise for customers.

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About Fort Island Ventures

Castle Island Ventures It’s a main enterprise capital agency specializing in early investments in blockchain know-how and decentralized finance. Fort Island Ventures has a portfolio of revolutionary corporations devoted to supporting the following era of blockchain entrepreneurs and catalyzing the expansion of the decentralized ecosystem.