LSD Protocol unshETH Raised $3.3M in Seed Funding Round

The liquid staking ecosystem is in the eyes of investors following a recent boom.

Last updated: August 8, 2023 9:30 AM

Published August 8, 2023 9:30 AM

Last updated: August 8, 2023 9:30 AM

Published August 8, 2023 9:30 AM

The LSD marketplace protocol, unshETH has raised $3.3 million in the Seed funding round. It had participation from numerous investors including Soma Capital and MH Ventures.

We are thrilled to announce we have raised $3.3m from a number of notable investors including @Soma_capital @ICONIQGrowth @TheLAOOfficial @BackendCapital @electricfeelent @MH_Ventures @300DAOxyz @jai_prasad17 and more. pic.twitter.com/lIsXmrb0NY
— unshETH (@unsheth_xyz) August 7, 2023

“With this investment, we will accelerate development efforts of Project Sentience to expand the protocol’s features to deliver an unmatched liquid staking experience,” said unshETH in the tweet.

unshETH has built a marketplace which enables swapping different LSDs and fosters competition between liquid staking protocols. The protocol currently has a TVL (total value locked) of over $13 million, according to DeFiLlama.

Investors in this funding round includes Soma Capital, ICONIQ Growth, LAO DAO, Backend Capital, HF0 Residency, MH Ventures, 300 DAO, Electric Feel Entertainment and several other angel investors.

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