Drop Protocol, a liquid staking protocol for interchain assets, successfully closed a $4 million seed funding round led by CoinFund. Additional backing came from notable firms including CMS Holdings, Anagram, Interop Ventures, and Cosmostation. The round featured prominent angel investors such as Vasiliy Shapovalov, Mustafa Al-Bassam, and Jon Kol. The Drop team consists of experienced contributors from the crypto space, and the protocol is built on Neutron within the Cosmos ecosystem, utilizing the latest blockchain frameworks. In related news, advancements in blockchain technology were noted across various projects, such as the release of YBTC by pStake Finance and a data network initiated by Opacity, showcasing the evolving landscape of decentralized finance and blockchain interoperability. With various protocols focusing on enhancing decentralized applications, secure cross-chain data exchange, and increasing efficiency, the overall interest in blockchain developments remains robust.

Source 🔗