SINGAPORE, March 28,
2024 /PRNewswire/ -- OKX Ventures, the
investment arm of leading Web3 technology company OKX, has
issued updates for March 29,
2024.
OKX Ventures Announces Investment in StakeStone, an
Omni-Chain Liquidity Distribution Network
OKX Ventures today announced its investment in StakeStone, an
omni-chain liquidity distribution network. Stakestone focuses on
establishing STONE as the standard for omnichain liquidity assets
and advancing its use cases on various chains.
By wrapping ETH staking and potential bluechip
restaking rewards into STONE and distributing them to the
application layer of various ecosystems. Currently, there are a
total of 342,704 ETH locked on the network, and a
total value locked (TVL) of approximately US$1.2 billion on Stakestone. StakeStone is also
exploring STONE BTC to integrate BTC liquidity into its
distribution network.
OKX Ventures Founder Dora Yue
said: "Today, there are over 900,000 validator stakes. The
rise of new chains and ecosystems is driving a growing demand for
ETH liquidity. However, Layer 2s face the challenge of
high staking costs for ETH. This is where StakeStone
comes in, offering compatibility with various restaking strategies.
We've witnessed Stakestone's 100x surge in TVL at the beginning of
2024; the network also bootstrapped with the Manta Network and
emerging Bitcoin Layer 2s, including B² Network,
Merlin Chain and BounceBit, among
others. The StakeStone community could yield extra rewards on over
25 chains in 2024. This will involve exploring strategies with
DEXs, market makers, lendings, Collateralized Debt Positions (CDP -
Stablecoin), derivatives, and even GameFi. OKX
Ventures has always advocated for innovative yet secure use-cases
in DeFi, which can pave the way for the growth of the
chains."
About OKX Ventures
OKX Ventures is the investment arm of global leading
crypto exchange and Web3 technology company OKX, with
an initial capital commitment of USD100
million. It focuses on exploring the best blockchain
projects on a global scale, supporting cutting-edge blockchain
technology innovation, promoting the healthy development of the
global blockchain industry, and investing in long-term structural
value.
Through its commitment to supporting entrepreneurs who
contribute to the development of the blockchain industry, OKX
Ventures helps build innovative companies and brings global
resources and historical experience to blockchain projects.
Find out more about OKX Ventures here.
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SOURCE OKX Ventures