• Tue. Jun 25th, 2024

Trusted Node Secures $2M in Private Round to Expand Network

The recent round comes after Trusted Node achieved $30M in TVL in just two weeks.

HONG KONG, Nov. 12, 2021 (GLOBE NEWSWIRE) — Trusted Node, a platform creating a validator network for proof-of-stake and next-generation blockchains, recently raised US$2 million in a private round in just one hour.

Trusted Node’s vision is to bring proof-of-stake (PoS) network rewards to its users, providing more opportunities for liquid staking and yield generation. Trusted Node achieves this by creating a reliable decentralized network of validator nodes on the most important DeFi and emerging blockchain networks.

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The investment round was led by Plutus VC, followed by Lion DAO and NIOX DAO. The round also saw the participation of Tavis Digital and Primo Consulting.

Trusted Node CEO and founder Stefan Rust said, “We are thrilled to have the support of so many key investors, and having raised US$2 million in such a short amount of time reflects the trust and support in our project. Going forward, we will continue to develop and enhance our platform, providing more choices of validator networks to our users, which in turn will benefit the entire crypto ecosystem.”

The funding will be used to expand Trusted Node’s network of validator nodes, which will broaden the choices for its users. In addition, funds will be used to further develop and enhance Trusted Node’s features, such as the platform’s liquid staking vaults that will be released soon.

“We are excited by Trusted Node’s potential to offer the next-generation liquid staking solution for PoS blockchains. The protocol will provide aggregation and more yield opportunities from staking assets and derivatives across both protocols and validators.” said Calvin Ng, General Partner of Plutus VC.

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“We pride ourselves in investing and partnering with projects that share our vision of collective growth and empowerment. We are delighted to be collaborating with Trusted Node as they are aligned with our passion and commitment to build a decentralized world.” said Faiz Nazarali, Co-founder of Trusted Node, Highvibe Network, Lion DAO, and COmastermind.

“Trusted Node’s innovative solution to liquidity staking promises to be a valuable piece of infrastructure, bringing proof of stake and yield farming opportunities to the masses. We’re thrilled to have the opportunity to support the core team’s vision to build Trusted Node” said Ali Raheman, Founder of NIOX DAO.

The private round comes on the heels of Trusted Node’s earlier success in achieving US$30 million in total value locked (TVL) just two weeks after launching its webapp and Staking Portal. Trusted Node is extremely grateful to its users, its community, as well as its investors.

Trusted Node’s Whitepaper has also recently been released and can be found here.

About Trusted Node

Trusted Node is creating a validator network for proof-of-stake and next-generation blockchains. It allows for professional stewardship of the network while providing yields to stakeholders who participate in the decision-making around nodes in the network infrastructure.

Follow Trusted Node on social media for the project’s latest updates and announcements:

Twitter: twitter.com/trustednode

Medium: trustednode.medium.com

Telegram Community Channel: t.me/trustednode_io

Telegram News Channel: t.me/TNODE_official

Media Contact: Sunny Cheng at [email protected]

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Kevin Moore - E-Crypto News Editor

Kevin Moore - E-Crypto News Editor

Kevin Moore is the main author and editor for E-Crypto News.