Staking Protocol Developer Alluvial Secures $4.3M Strategic Funding Round, Led by Variant

BlockBeats News, November 19th, according to official sources, Staking protocol developer Alluvial has completed a $4.3 million strategic financing round with Variant leading the investment. Other participants include Ethereal Ventures, Brevan Howard Digital, Fidelity's venture capital arm F-Prime Capital, and Nascent. This funding round brings Alluvial's total funding to $22.5 million.

As the supporter of the Liquid Collective staking standard, Alluvial will use the new funds to drive the development of an enterprise-grade staking solution. Data shows that Liquid Collective is currently one of the fastest-growing protocols on Ethereum, with a TVL of over $374 million, a 360% growth in the past year, and has gained support from 13 major platforms such as Coinbase, Anchorage, and Fireblocks.