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Non-Custodial Liquid Staking Platform Ether.Fi Closes $5.3M Fundraise

Ether.Fi, a decentralized and non-custodial liquid staking platform, said it closed a $5.3 million fundraising round.

The round was co-led by North Island Ventures, Chapter One and Node Capital and included participation from BitMex founder Arthur Hayes.

Ether.Fi allows users to maintain control of their keys while delegating Ethereum validator operations to a node operator.

Every validator generated through its protocol will be represented as a non-fungible token (NFT). Ethereum stakers depositing a minimum of 32 ETH will hold the NFT, which represents an economic interest in the validator. Once liquidity pool and protocol treasury management smart contracts are implemented, this NFT can be fractionalized.

Ether.Fi’s team says they are aiming to have 100,000 ether staked by mid-2023. The protocol is set to launch at ETHDenver on March 4.

(By Sam Reynolds)

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