Hillrise Ventures Announces Investment in Stone Protocol
Hillrise Ventures today announces an investment into cross-chain asset aggregation and yield marketplace Stone Protocol. Hillrise Ventures is the private investment arm of Hillrise Group.
Today we are happy to announce our investment into Stone Protocol, a newcomer to the expanding ecosystem of decentralized finance (‘DeFi’). As power users of several DeFi protocols ourselves, we are excited to be supporting a startup developing unique products for this growing niche of the industry.
Stone Protocol is themed around their positioning as an anchoring yield aggregation platform. The team will deliver a platform for “Rock Solid Yield” by creating innovative asset pools motivated by maximizing returns whilst keeping liquidity provider capital secure.
As a result, Stone Protocol aims to create a robust passive income platform for the DeFi ecosystem.
Their solution to consolidate the fragmented ‘liquid staked-asset’ environment will be a key value-add that Stone Protocol will bring to market alongside their other innovative products for the DeFi power user.
Technical development will initially be led by the team from RockX, a consulting and institutional staking firm cofounded by Xinshu Dong, Partner of IOSG Ventures and previously of Zilliqa.
RockX — the firm developing Stone Protocol — has received grants from Algorand and Oasis Network. Stone Protocol has received investment from Hillrise Ventures, Arrington XRP Capital, Signum Capital, Longhash Ventures and others.
“DeFi is evolving at rapid pace and while development and new startups emerging is positive for this area of the industry, we’re seeing the DeFi market becoming fragmented. Stone’s core positioning is to be an anchoring yield solution and we’re optimistic about their vision to become a cross-chain asset aggregation platform — unifying the fragmented pieces of staking derivatives and liquidity once again.”
Daniel Dal Bello, Director of Hillrise Group
“We are happy to welcome Hillrise Ventures to be our investor and partner. We are truly inspired by their advice for the development of Stone and we believe Hillrise Capital will contribute significantly to our ecosystem and help us build Rock Solid Yield!”
Alex Lam, Project Lead at Stone Protocol