Kintsu Secures $4M in Seed Funding Led by Castle Island Ventures to Advance Monad DeFi with Liquid Staking

Kintsu Secures $4 Million in Seed Funding to Transform Liquid Staking

New York, New York, July 25th, 2024 – Kintsu, a pioneering liquid staking protocol, is excited to announce the successful closure of its $4 million seed funding round. The funding, led by Castle Island Ventures, attracted notable contributions from investors such as Brevan Howard Digital, CMT Digital, Spartan Group, Breed VC, Arche Capital, CMS Holdings, Animoca Ventures, Reciprocal Ventures, and LBank Labs. Among the angel investors were Marin Tvrdić from Lido and Robinson Burkey from Wormhole, alongside notable figures like Chris Hermida from Switchboard and others from Brevan Howard Digital and Renaud Partners.

Driving Innovation in Liquid Staking

Kintsu is set to reshape the DeFi landscape with its advanced liquid staking solutions. Traditionally, staking and DeFi have found themselves at odds, with security and liquidity battling for dominance in the base layer token. Kintsu aims to enhance liquidity and security in the parallelized EVM by providing composable staking rewards. Its decentralized validator registry allows validators to join without permission, while the community oversees the allocation of the total staking pool. This funding will significantly accelerate the development of Kintsu’s composable liquid staking middleware on Monad.

Strategic Vision and Future Plans

With this successful funding, Kintsu is ideally positioned to enhance the Monad DeFi ecosystem by offering developers a seamless way to incorporate staking into their protocols. Kintsu’s philosophy centers around the idea that DeFi can be vastly improved by utilizing Liquid Staking Tokens (LSTs) as core routing tokens and collateral. By building on the foundational successes of established platforms like Lido and Jito, Kintsu incorporates industry best practices while promoting active DAO participation.

The emergence of Liquid Staking Protocols (LSTs) arose from historical challenges faced by genesis validators who lacked the option to unstake during the early days of the beacon chain. Kintsu is firmly established as a “Liquid” Staking Protocol, but it also distinguishes itself as a “Composable” Staking Protocol.

About Kintsu

Kintsu is leading the charge in DeFi innovation, providing state-of-the-art liquid staking infrastructure that enhances liquidity and security through composable staking rewards. Built on the Monad network, Kintsu’s platform is designed to meet the dynamic needs of the digital asset ecosystem, ensuring users enjoy a seamless staking experience with meaningful rewards.

About Castle Island Ventures

Castle Island Ventures is a prominent venture capital firm that focuses on early-stage investments in blockchain technology and decentralized finance. Committed to nurturing the next generation of blockchain entrepreneurs, Castle Island Ventures actively supports innovative companies and contributes to the growth of the decentralized ecosystem.

Contact:
Julia Portelly
CW8 Communications
[email protected]