Stroom, a Kyiv, Ukraine-based developer of a Bitcoin liquid staking protocol in lightning network, raised $3.5M in Seed funding.
The round was led by Greenfield, with participation from Mission Street, Lemniscap, No Limit Holdings, Cogitent Ventures, and other vc firms and angels.
The company intends to use the funds to expand operations and work to release the liquid staking token on the Ethereum mainnet.
Led by CEO Rostyslav Shvets and CTO Slava Zhygulin, Stroom is a financial protocol between the Bitcoin Lightning Network and EVM-based blockchains (e.g. Ethereum). It allows users to earn Lightning Network revenue without locking up BTC and maintaining their own node infrastructure.
Users can deposit staking tokens and receive tradable liquid tokens in return. The DAO controlled smart contract then stakes tokens with DAO-picked staking providers. Users’ deposited funds are controlled by the DAO, staking providers never have direct access to the users’ assets.
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