TechFlow news — According to The Block, Alkimiya, a structured yield protocol for computing power, raised $7.2 million in November last year. The round was led by 1kx and Castle Island Ventures, with participation from Dragonfly, Circle Ventures, Coinbase Ventures, and others. The funding will primarily support team expansion as the company prepares to launch its full product suite in Q1 this year, including Vault products and ETH staking contracts on the Ethereum mainnet.
Founded by Ricardo Grobel, a former engineer at Itaú Unibanco, and Zhang, a former Morgan Stanley employee, Alkimiya aims to provide hedging solutions for blockspace producers such as miners and staking validators. Alkimiya offers blockchain producers guaranteed fixed returns upfront for future production, with yields directly tied to blockspace output. This hedging mechanism enables them to manage risk while allowing DeFi users to access value generated by blockchain producers. Original link
