Stroom Network Raises $3.5m for Leveraged Bitcoin use on Ethereum & Lightning!
Stroom Network has raised $3.5 million in seed funding in an oversubscribed funding round led by crypto investment firm Greenfield. Other participants include Lemniscap, Cogitent Ventures, Ankr’s venture arm, and No Limit Holdings. Stroom’s protocol allows users to leverage their bitcoin capital on both the Lightning Network and Ethereum. By depositing bitcoin on Lightning, users can earn routing fees while Stroom issues a wrapped bitcoin token, lnBTC, on Ethereum, allowing users to explore further yield opportunities across the Ethereum ecosystem, similarly to WBTC.