Summary
Ether.fi, a liquid restaking token provider, raised $23 million in Series A funding led by Bullish Capital and CoinFund. The firm also raised an additional $4 million in a SAFE round. Their token earns staking yield and EigenLayer points, solving liquidity issues in Ethereum restaking. Investors are interested in restaking, with Andreessen Horowitz investing $100 million in EigenLayer. Ether.fi is one of several protocols offering liquid restaking tokens, with Lido controlling over 80% of the market. The protocol’s token generation event is planned for April. Total value locked in LRT protocols has grown significantly, with Ether.fi being the largest provider with $1.64 billion in TVL.
Key Points
1. Ethereum liquid restaking token provider ether.fi has raised $23 million in Series A funding.
2. The round was led by Bullish Capital and CoinFund, with OKX Ventures, Foresight Ventures and Consensys among the participants, alongside founders and executives from DeFi venues like Aave and Curve, among others.
3. The team also said Wednesday that it raised an additional $4 million in a SAFE round late last year.