Investing in Unstable
We're excited to announce our investment in Unstable, a LST/LRT native lending protocol.
Ethereum staking - and soon to be restaking - has become a cornerstone of crypto’s most vibrant economy. LST’s like Lido and a new crop of LRT’s have compounded this growth by making (re)staked tokens composable throughout DeFi.
As this market has grown, it has also fragmented. Some users prefer the decentralization ethos of RocketPool’s rETH. Others prefer the easy UX of Coinbase’s cbETH. There are dozens of LST’s and there are dozens more LRT’s.
Unstable Protocol’s LRTfi-native lending protocol is a core building block of the LRT economy. By leveraging Succinct Labs’ zk Oracles, Unstable will be able to support any LST or LRT on day one. This means that they can move dramatically faster than any lending protocol using Chainlink or other market oracles.
Unstable will serve as the day-one leverage layer for staked and restaked Ether. The team launched their testnet yesterday and will be on mainnet soon. We’re excited to back the team.
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