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.
“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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