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Unstable - Seed
Overview
Funding Date
March 27, 2024
Financing amount
$2.5M
Valuation
--
Category
Subcategory
About Unstable - Seed
After raising $2.5 million in its latest seed funding round, Unstable Protocol is on a mission to transform the burgeoning Liquid Restaking Token Finance (LRTfi) movement. The project, which is building the leverage layer of (re)staked Ether, attracted investment from multiple ETH-aligned funds including Lattice, Laser Digital (Nomura Group), Blockchain Founders Fund, Axelar Network, Agnostic Fund, Black Edge Capital, NewTribe Capital, Blockbuilders, Artichoke Capital, The Rollup and NxGen.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | United States of America | 2021 | 53 | -- | ||
| Fund | Unknown | -- | 30 | -- | ||
| Fund | Singapore | 2018 | 49 | [email protected] | ||
| Corporate | Unknown | -- | 7 | -- | ||
| Fund | -- | -- | 4 | -- | ||
| Fund | Singapore | 2018 | 26 | [email protected] | ||
| Fund | United Arab Emirates | 2021 | 22 | -- | ||
| Corporate | Unknown | -- | 6 | -- | ||
| Corporate | Cayman Is. | 2021 | 6 | -- | ||
| Fund | Unknown | -- | 5 | -- |
Founders & Team
Damocles
Company Profile / Project Introduction
Unstable Protocol utilizes zkOracles to enhance DeFi utility for the LRTfi market. Backed by a number of prominent web3 VCs and angel investors, the protocol enables users to borrow against their LST and LRT collateral and unlock the utility of their (re)staked ETH on L2 chains. Unstable’s lending protocol engine is powered by zkSNARK-based validator and EigenLayer AVS balance proofs.