Cryptocurrency Staking Service Provider Acre Secures $4 Million Investment from Big Brain Holdings and Additional Backers
Acre Raises $4 Million to Boost Bitcoin Scalability and Staking Opportunities
Acre, a new liquidity layer designed for Bitcoin scaling, has announced the successful completion of a $4 million token round. The platform aims to provide enhanced liquidity and staking opportunities for BTC holders, allowing them to earn more Bitcoin through mechanisms such as staking BTC within its liquidity pools.
Laura Wallendal, the CEO of Acre, explained that the platform operates by allowing users to deposit bitcoin in exchange for staking rewards paid out in stBTC. Deposits take approximately three hours to complete, and the deposited Bitcoin is held in a 51-of-100 multi-sig operated by decentralized nodes, ensuring the deposits remain fully decentralized throughout the process.
Acre's innovative approach mirrors DeFi principles adapted for Bitcoin, focusing on liquidity provision and layered scaling. By staking BTC on Acre, users can earn additional Bitcoin as rewards, effectively increasing the amount of BTC they hold over time. This system incentivizes liquidity provision, which underpins faster and more scalable Bitcoin transactions.
The funds raised will be used to expand Acre's team, integrate additional protocols, and advance collaborations with new wallet partners. Notable Web3 companies like Lido, EigenLayer, Wormhole, Thesis, and Quantstamp also participated in the fundraising round. The fundraising was backed by Draper Dragon, Big Brain Holdings, and Orange DAO, among others.
Acre prioritizes security over instant transactions, ensuring that deposits are held securely in a decentralized manner. The company claims to have collected over $100 million in BTC deposits since launching its mainnet last July.
Laura Wallendal, the CEO of Acre, stated that the platform helps Bitcoin holders earn more Bitcoin by staking BTC in exchange for stBTC. She emphasized that Acre's approach allows BTC holders to participate in DeFi without interacting with new chains, managing multiple tokens, or compromising control over their assets.
In summary, Acre is a liquidity layer boosting Bitcoin’s scalability by enabling BTC staking and capital efficiency. Users stake BTC within Acre’s liquidity pools or contracts, earning additional Bitcoin as rewards. This system mirrors DeFi principles adapted innovatively for Bitcoin, focusing on liquidity provision and layered scaling.
The new investment will enable Acre to collaborate with various web3 companies, such as Lido, EigenLayer, Wormhole, Thesis, and Quantstamp, further advancing its DeFi-like Bitcoin scaling solution. This collaboration aims to enhance the platform's capabilities, making it more secure for news users to participate in staking activities and earn extra Bitcoin. Moreover, Acre's innovative approach to DeFi, leveraging technologies like DAOs, emphasizes the platform's commitment to remaining decentralized and secure, making it an attractive option for Bitcoin holders keen on maximizing their earnings.
