Kelp DAO Successfully Raises $9 Million in Private Token Sale

Bittime – Kelp DAO, an autonomous decentralized organization (DAO) focused on marine technology development, has completed a private token sale round with resounding results. 

This round raised $9 million, with total traded value (FDV) reaching $90 million in March.

Ethereum Liquid Reset Platform Kelp DAO Secures $9 Million in Funding

Kelp DAO, an Ethereum fluid reset platform built on EigenLayer, has successfully raised $9 million in funding in a private token sale round.

The round was led by SCB Limited, a Bahamas-based proprietary trading company, and Laser Digital (a crypto unit of Nomura Global), with a combined total investment of $3.5 million. This is the information conveyed by Kelp on Wednesday.

A number of well-known investors participated in this round, including Bankless Ventures, Hypersphere Ventures, Draper Dragon, DACM, Cypher Capital, GSR, HTX Ventures, and DWF Ventures.

A number of well-known investors, such as Scott Moore from Gitcoin, Sam Kazemian from Frax Finance, Marc Zeller from Aave Chan Initiative, Saurabh Sharma from Jump Crypto, and Amrit Kumar from AltLayer, participated in Kelp's latest funding round.

Check Today's Crypto Market:

KELP Token Launch Timeline and Important Explanations

KELP Launches Governance Token

• KELP has completed the private sale of its yet-to-be-launched KELP tokens.
• DAO KELP plans to launch a governance token “soon” and is “currently going through legal and exchange due diligence.”

Difference Between KELP and KEP Tokens

• KELP tokens are not associated with KEP Kelp, which is a token representation of EigenLayer points.
• KEP claims have been paused because "EigenLayer snapshot logic makes them non-fungible."
• Those who have claimed KEP will get EigenLayer tokens.

Kelp: Bitcoin, Solana, BNB Chain Coming Soon

Kelp, an Ethereum liquid reset platform that has secured new funding, is ready to expand its reach to other blockchains.

Kelp CEO Siddarth Gajjala revealed plans to launch liquid reset services for Bitcoin, Solana, and BNB Chain in the third quarter of this year.

"We will enable native restaking on Kelp from the Bitcoin Layer 2 network," said Gajjala. "We are also reviewing building staking infrastructure on other chains such as BNB Chain and Solana."

Kelp, founded by Gajjala and Dheeraj Borra, has close ties with Stader Labs, the liquid staking platform founded by Borra.

Stader Labs currently manages over $680 million in total value locked (TVL), with Polygon (MATIC) the largest contributor at $504 million.

Check Price:

Bitcoin ETF Prices Jump Sharply Amid Market Optimism Over Ethereum ETF Approval

Gala Games Successfully Resolves Security Incident & Restores Affected Ethereum

5 Largest Crypto Investor Countries, Nests for 'Whales' Lurking?