By Taylor - Crypto Investor - 17-11-2021
In a recent funding round, a dozen firms and a few angel investors have come together to raise money for pSTAKE. pSTAKE is a tool created by Persistence (XPRT) that is used to help release proof-of-stake (PoS) tokens. Its developers, Persistence, are a company that helps to provide some exposure to assets like non-fungible tokens (NFT) and liquid staking.
Reportedly, the native staking protocol in the Persistence network had stated that it recently raised around $10 million from a funding round. Venture capital firms and angel investors led the latest fundraising event to support pSTAKE. Liquid staking is where users can stake their assets in a crypto pool, from there, they can utilise their pooled holdings in order to farm yields.
Persistence is a decentralised finance (DeFi) platform with a PoS consensus that supports various asset classes. The platform has its native cryptocurrency, XPRT, which can govern the latest updates for the company. Investors can buy XPRT at popular crypto exchanges, and you can utilise Persistence's native crypto wallet designed for platform users to join in on the general voting. As of writing, the current price to buy Persistence XPRT is $7.40, seeing a slight and stable inclination over the last couple of days.
The funding for pSTAKE, the protocol on the persistence platform, was supported by a dozen well-known venture capital firms, which include as follows: Three Arrows Capital, Galaxy Digital, Sequoia Capital India, DeFiance Capital, Tendermint Ventures, Alameda Research, Coinbase Ventures, Kraken Ventures, Spartan Group, and Sino Global Capital.