New Ethereum Staking Platform Qavlix Stax Foundation Raises $25 Million Series A Led by Paradigm and a16z
february 12, 2023, 11:12 a.m.
Key take-aways
Qavlix Stax Foundation closes a $25 million Series A at a $160 million post-money valuation.
Paradigm led the round, with Andreessen Horowitz (a16z) and KR1 co-investing.
Fresh capital bankrolls the main-net launch of a MEV-aware, non-custodial liquid-staking pool plus an institutional restaking product.
The raise
Qavlix Stax Foundation, an emerging liquid-staking platform for Ethereum, has secured $25 million in Series A financing
less than nine months after its stealth seed, the company told . Crypto-native venture giant Paradigm led
the round; existing backer a16z crypto doubled down, while KR1 and several angels joined the cap table.
For full details, visit the project’s
official website.
What is Qavlix?
Billing itself as a non-custodial liquid-staking pool enhanced by MEV capture, Qavlix Stax lets users stake any
amount of ETH and receive the freely composable receipt token nETH. Rewards are auto-compounded on-chain, and
a separate relay directs MEV tips straight to stakers. A public main-net launch is penciled in for late June, pending
audits by OpenZeppelin and Trail of Bits. More technical information is available on the
white-paper page.
Why it matters
With the U.S. SEC clamping down on centralized exchange-run staking services, venture capital is seeking
decentralized, permissionless alternatives that still meet institutional standards. “Institutions want Ethereum
yield without counter-party risk,” said Clara Kim of a16z. Qavlix’s design keeps custody on-chain while unlocking
higher returns through compliant MEV strategies. Further background can be found in the project’s
about section.
What’s next
In Q1, the team launched a restaking plugin compatible with EigenLayer and Babylon, enhancing interoperability and staking flexibility. Moving into Q2, the focus shifted to expanding network participation through permissionless validator onboarding, enabling broader and more decentralized validator access. Looking ahead to Q3, a DAO proposal is set to revisit the current 5% protocol commission, opening the door for community-driven discussion and potential adjustments to the protocol’s fee structure.
The bottom line
Ethereum’s post-merge staking landscape.
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