Staking Rewards raises seed round to launch the Trustpilot of Crypto

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31.05.2021
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In addition to closing its first financing round led by the Swiss Founders Fund, fintech startup ‘Staking Rewards’ is launching a registry for Staking & DeFi Yield Providers. The new features will allow users to assess passive income opportunities while tapping into incentivized crowd-intelligence.

Staking Rewards, operated by St. Gallen based Finrate AG, is an independent data aggregator and research platform for crypto interest rates with the core focus on Proof-of-Stake (PoS) Protocols which enable passive returns through staking – the process of locking crypto assets in a PoS blockchain for a certain period of time (see explanation).

In 2019 the team sold its platform Hotstake to Stake Capital to focus on developing Staking Rewards. The acquisition allowed them to finance the development of Staking Rewards while removing potential conflict of interests. Neither Stakingrewards.com nor any team member is affiliated with any cryptocurrency, staking service or other project in this industry. 

The company is currently tracking 217 yield-bearing assets with an average reward rate of 14.95% and 9315 qualified providers. In the recent months, the born-global startup has seen tremendous growth with close to 500k unique monthly users and over 3M page-views. In the coming months, more user-focussed features will be released via a native token-concept, by scaling the API business for staking data, and by expanding the platform’s reach to China and other areas in the world. 

Fresh capital to boost the platform
Staking Rewards has today announced the closing of an oversubscribed seed financing round from strategic investors. Led by Swiss Founders Fund (SFF) the round saw the participation of Ant Financial’s A&T Capital, Fenbushi Capital, and a handful of high-profile angel investors. The funds will be used to scale the platform and add a number of novel features. 

“Over the past 18 months, the opportunities in crypto staking have literally exploded and offer exciting new sources of passive income. There is a huge need for transparency and education to navigate this space, which is where Staking Rewards comes in. We’re excited to support the founders in their journey”, says Christian Mischler, Partner at Swiss Founders Fund (SFF). 

A debut of the staking provider registry
Additionally, Staking Rewards is launching a new Staking Provider Registry for Staking & DeFi Yield Providers. It iscurrently verifying Staking Providers and Lending Platforms to help users navigate the landscape of yield opportunities with crypto, giving peace of mind thanks to a reduced counterparty risk.

With the new validation, visitors of stakingrewards.com can explore providers and directly engage with them on the website by asking questions. Active users earn the native HEARTS tokens by writing valuable reviews and answers about staking and defi projects.

(Press release / RAN)

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