StakeStone has successfully raised $22 million in a Seed funding round, announced on November 11, 2024. This strategic investment saw contributions from key players in the crypto and blockchain space, including Hashkey Capital, Polychain Capital, SevenX Ventures, Amber Group, and YouBi Capital, among others. The funds will support StakeStone’s ambitious plans to expand its omni-chain Liquid Staking Token (LST) protocol, which boosts staking yields and liquidity across Layer 2 networks.

StakeStone operates as an omni-chain LST protocol, designed to enhance native staking yields and improve liquidity. With its native token, STONE, the platform offers a multi-chain liquidity market and features an Optimizing Portfolio and Allocation Proposal (OPAP) mechanism, ensuring decentralized staking, asset optimization, and transparent yield distribution. STONE functions as a non-rebase Omnichain Fungible Token (OFT), allowing for secure cross-chain asset and price transfers, which positions StakeStone as a valuable tool in the DeFi ecosystem.

With this latest investment, StakeStone is positioned to launch new products, including its BTC-focused offerings—SBTC, an index-based liquid BTC, and STONEBTC, a yield-bearing BTC asset. These additions aim to expand BTC’s utility within EVM and Layer 1 and 2 networks, boosting adoption across the DeFi landscape. Furthermore, StakeStone is set to unveil a payment solution featuring flexible savings powered by yield-bearing STONE and a Buy-Now-Pay-Later (BNPL) option, enhancing transaction flexibility for users.