Stader Labs, a cryptocurrency staking management platform, has raised $4 million in its seed round led by Pantera Capital.
Coinbase Ventures, True Ventures, Jump Capital and Ledgerprime have also participated in the round.
Founded by Sidhartha Doddipalli and Amitej Gajjala, Stader is focused on building decentralized financial protocols and applications for efficient stake management on public blockchain networks. The company’s product is currently in use on Terra’s blockchains and it is building an MVP on Solana.
The startup has a team of 12 across four continents and has plans to double the team size in the upcoming year. It plans to build native smart contracts for staking on multiple blockchains such as Near, Polkadot, Ethereum, and Matic. It is aiming to cover five to six PoS blockchains over the next year.