(PRESS RELEASE – Singapore, Singapore, December 19th, 2024)
UTXO Stack, the Lightning Network's liquidity staking protocol, has completed its Series A funding round at a $50 million valuation, co-led by UTXO Management, CMS, and PAKA. This follows their successful round, which was co-led by ABCDE Capital and SNZ Capital, with participation from CKB Eco Fund, OKX Ventures, UTXO Management, Waterdrip Capital, Matrixport, y2z Ventures, and DRK Lab.
Building on this milestone, UTXO Stack plans to launch a large-scale airdrop incentive program in early January 2025, which aims to increase BTC liquidity within the Lightning Network. After this, they will cooperate with the launch of CKB Fiber Network Mainnet to introduce airdrop liquidity incentives for CKB and RGB++ assets. UTXO Stack is expected to host its Token Generation Event (TGE) in Q1 2025, marking the first TGE within the Lightning Network ecosystem.
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Source: https://cryptopotato.com/utxo-stack-completes-series-a-funding-plans-tge-in-q1-2025/
