On Thursday, October 8th, the management of Stader Labs announced that the project has successfully raised a $4 million seed fund. The project hopes to give a new definition to staking in the DeFi ecosystem by creating a staking platform that would be devoid of complexities.
For context, Stader Labs is a blockchain Startup that seeks to enable all types of staking in a single interface. Also, it allows delegators to explore more opportunities with their stakings.
Panthera Capital led a host of other investors who believed in this project to achieve this milestone. These investors also include foundations and angels.
They are Coinbase Ventures, Jump Capital, Double Peak Group, Solana Foundation, Hypersphere, Ledgerprime, Huobi Ventures, True Ventures, TerraForm Labs, Sumit Gupta of CoinCDX among others.
With this fund, Stader Labs hopes to target and implement two goals – product development and marketing. According to the spokesmen of the project, these two goals would take Stader Labs to gain clearer definition and reach greater potentials.
Concerning product development, Stader Labs plans to “launch a number of products and features to assist delegators in maximizing their staking returns with greater ease”.
In addition, it plans to build smart contracts for staking on a lot of blockchain ecosystems. This is essential to enhance availability to each user of these blockchains.
Beyond that, Stader Labs wants to build API infrastructures which will enable FinTech apps to provide staking functionalities for their users.