PANews reported on May 20th that according to The Block, the Bitcoin liquid staking protocol Rover has completed a $4.1 million seed round financing, with investments from Bloccelerate, Animoca Ventures, CMS Holdings, UTXO, Maelstrom, and angel investors including Meltem Demirors. The project was founded by former Citibank executive David Mass and Meir Bank, aiming to develop a liquid staking solution for Botanix, the first fully decentralized Bitcoin sidechain.
Rover is about to launch its mainnet, where users can obtain liquid staking tokens rovBTC by staking BTC, earning Bitcoin returns while maintaining liquidity. The token can also be used for trading, lending, and other DeFi operations within the Botanix ecosystem. The project has established partnerships with Chainlink and has been audited by three security companies, including Trail of Bits.
