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ClayStack Raises $5.2M in Seed Round Co-Led By CoinFund & ParaFi

July 13 2021
  • Product
Nesting

Since the inception of PoS, there has been a rapid increase in the TVL in staking and, on the flip side, a decrease in user participation. Staked assets are illiquid and have an unbonding period which causes huge opportunity loss. Considering the widespread DeFi boom, the gap is growing bigger. The primary reason to start ClayStack was to bridge the gap between staking and DeFi via liquid staking.

Today, we’re delighted to announce that we’ve closed our seed round with remarkable support from leading funds, DeFi founders, and industry thought-leaders.

Our Investors

We have raised $5.2 million in seed funding co-led by CoinFund and ParaFi Capital, with participation from prominent funds including Coinbase Ventures, Spartan Group, Animoca Brands, LedgerPrime, Hypersphere, Hashed, Solana Foundation, Genblock Capital, Ascensive Assets, DeFiance Capital, Republic Labs, SkyVision Capital, The Lao, Hillrise Ventures, Shima Capital, and D64 Ventures.

We’ve got immense support from industry leaders and are fortunate to be backed by remarkable angels, including (in no particular order):

Our journey so far has been an adventurous one. We have successfully developed a robust architecture and have built a team of 12+ incredibly passionate people. The core team is responsible for building the next-generation liquid staking protocol and fostering a community of fervent enthusiasts.

The Future — ReDeFined

Our vision is to build a platform that allows users to make the most of their staked assets irrespective of the ecosystem that they are in. We will do a public launch of our Alpha in Q3 2021 with support for over three assets and will continue to expand to more chains in the future. As we scale, we wish to work closely with the community and make ClayStack a self-sustaining DAO.

Whether you are a passionate believer of crypto or a fervent developer who knows the technology’s ins and outs, join us as we revolutionize staking.

We offer multiple opportunities to associate with us:

  • Join our inclusive community and contributor program to reap the rewards of being the first to know. To join, fill out this contributor form.
  • Yes, we are hiring! Solidity developers, technical writers, product designers, and a variety of roles. If you wish to join our team, check our open positions.

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