TechFlow News — Stroom Network, a liquidity staking project for the Bitcoin Lightning Network, has raised $3.5 million in seed funding. The round was led by Berlin-based crypto investment firm Greenfield, with strategic support from Mission Street, the venture arm of Ankr. Participation also came from Lemniscap, No Limit Holdings, Cogitent Ventures, and several other venture capital firms and angel investors.
Stroom Network utilizes a liquidity staking mechanism to enable users to leverage Bitcoin across both the Lightning Network and Ethereum. The newly raised funds will be used to expand the team and launch its Liquid Staking token on the Ethereum mainnet.
Additionally, the Stroom Network team believes that introducing liquid staking to Bitcoin will help address the liquidity challenges currently facing the Lightning Network.
