Ethereal Ventures and Variant co-led the round for Alluvial
Alluvial, the creator of the enterprise and institution-focused Liquid Collective, has raised $12 million in a Series A funding round. Ethereal Ventures and Variant were the co-leaders of the round, with participation from other notable investors such as Brevan Howard Digital, Avon Ventures, Nascent Capital, a_capital, Robot Ventures, Fenbushi, IOSG, and Blockdaemon.
Key Points:
- The funding round raised $12 million to further develop Liquid Collective, a liquid staking protocol.
- Participation in ETH staking has increased since Ethereum’s Shanghai upgrade.
- Liquid Collective eliminates wait times and boosts liquidity and capital efficiency.
- Users can create on-chain receipts of their positions on proof-of-stake blockchains.
- Alluvial offers Liquid Collective through an API for easy integration into various platforms.
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The increased participation in ETH staking, following Ethereum’s Shanghai upgrade, has resulted in longer waiting times for staking. Liquid staking software solutions like Liquid Collective offer a solution to this problem by allowing users to create on-chain receipts of their positions on proof-of-stake blockchains. These receipts can be used as collateral or for asset ownership transfer, eliminating the need for long queues.
The decentralized and non-custodial nature of Liquid Collective makes it attractive to enterprises and institutional stakers. Alluvial prioritizes compliance, security, and performance to cater to the needs of this target audience. By offering Liquid Collective through an API, Alluvial simplifies its integration into digital asset exchanges, custodians, and other use cases.
Hot Take:
Alluvial’s successful Series A funding round highlights the growing demand for liquid staking solutions in the cryptocurrency market. As the participation in ETH staking continues to increase, Liquid Collective’s ability to eliminate wait times and enhance liquidity and capital efficiency positions it as a promising protocol. With the support of prominent investors and strategic partnerships, Alluvial is well-positioned to further develop and expand the adoption of Liquid Collective.
