Borderless Capital has announced that it has invested in StakerDAO to accelerate access to decentralized financial products throughout the Algorand Ecosystem. StakerDAO’s first financial product, Blend (BLND), will launch on Algorand with plans for additional DeFi products launching in the coming months.
Including Borderless Capital’s investment, StakerDAO has raised a $3M Series A round, co-led by Polychain and Lemniscap. Based on the current value of $13.30 per token, STKR has a market capitalization of $20M.
BLND is now available via CoinList as a synthetic ERC20 token and will soon be available as an Algorand ASA token. BLND tracks a governed basket of Proof-of-Stake (PoS) tokens and offers the easiest way to go long on the best PoS networks. With a single BLND ASA (Algorand Standard Asset) token, qualified individuals can participate in Algorand, Tezos, and Cosmos. BLND provides both price exposure to these blockchain projects, as well as exposure to the staking rewards these networks generate.
Borderless Capital and StakerDAO will partner to launch a growing number of products for the DeFi and Algorand ecosystems, creating gateways to both stake and secure the Algorand network while participating in DeFi. The goal is to enable the release of liquidity locked in staking, while maintaining the number of tokens securely validating the network.
The new financial products will be launched and managed under the direction of STKR token holders and secured by the Staker Agora governance process. The STKR token governs all decisions related to financial assets by StakerDAO. STKR is built on the FA 1.2 token standard on Tezos.