Web3 Staking Hub ContributionDAO Raises $2.8 Million To Expand Into Southeast Asia

• ContributionDAO raises $2.8 million in a seed funding round.
• Funding set to extend staking services, marketing and penetration into Southeast Asia.
• The platform boasts over $200 million in total assets staked across 26 validator nodes.

This Wednesday, ContributionDAO, the Web 3 contribution hub and institutional-grade staking platform, announced the successful completion of its seed funding round, raising $2.8 million from top VCs and angel investors in the blockchain space. The funding was led by KASIKORN X Venture Capital (KXVC) firm, the $100 million VC arm of Thailand’s largest commercial bank, KASIKORNBANK (KBANK) and welcomed participation from Axelar, Monad, Connext, and other angel investors.

The funding will be used to expand and innovate the staking solutions offered on the platform as well as advancing the community management tools for global blockchain projects. In addition, part of the funds will be used for marketing purposes, in a bid to expand their reach across the Southeast Asia blockchain market.

On the seed funding, Jom Vimolnoht, Managing Director, KXVC stated two companies will form a strategic partnership “to endorse and grow the Web 3.0 ecosystem in Southeast Asia” region. He further praised the innovations by ContributionDAO stating:

“With their proven capabilities, and the key results of contributing to various global projects, we are excited to work with ContributionDAO to support them in the journey of creating new cutting-edge Staking solutions, and community management tools that bridge global to local Southeast Asia market.”

Expanding and innovating the Web 3 staking space

As an institutional-grade staking solution, ConstitutionDAO will use the funding to expand and develop its staking solutions. This comes amidst the crypto world recovering back to its all-time highs in 2024. The Southeast Asia market is growing as a popular region to expand blockchain and staking services as well as node management solutions are increasingly looking to set up camp there.

ContributionDAO is no different, with the latest capital injection aimed at supporting the growth of its community worldwide and helping expand the platform’s adoption across the Southeast Asia blockchain market. Additionally, the funding will help bridge global blockchain projects to Southeast Asia via ContributionDAO’s node and community management solution. Since the turn of the year, ContributionDAO has contributed to several global blockchain projects in the region and others such as Axelar, Sui, Celestia, and Sei network.

Apart from extending development in the streaking field, ContributionDAO also stated they will use the funding to introduce liquid staking for accredited investors. Moreover, the platform will launch its slashing coverage solution to ensure potential losses are minimized and users’ funds are safe and secure.

Notwithstanding, ContributionDAO will continue to build out its infrastructure and application layers, Proofsquare.xyz and Lightlayer.xyz respectively. The former will offer users smart automation and a virtual assistant to help manage global communities with a few clicks away. This enhances overall community management for Web 3 platforms worldwide, playing a role in shaping the future of institutional involvement in staking activities.