Restaking aggregation layer Byzantine Finance has announced that it has completed a $3M pre-seed round led by Node Capital and Blockwall Ventures. The funding will help Byzantine deliver institutional access to restaking through a seamless aggregation layer.
Restaking is the internet bond market. Invested assets are not used to secure only one system but multiple, spreading risk between them and earning returns from all of them. With base staking returns decreasing due to high demand, restaking increases attainable yield without materially increasing surface risk. Byzantine’s restaking solution gives institutions and professional investors exposure to one of the most lucrative new DeFi primitives, with a TVL of over $20B.
Byzantine’s pre-seed round attracted broad interest from web3-focused VCs and angel investors. More than 30 investors participated in the round, with Node Capital and Blockwall Ventures joined by Lightshift, Masterkey VC, and Kiln Ventures, as well as angels from EigenLayer, LayerZero, P2P, Staking Rewards, Ledger, BitGo, Drosera, Request Finance, and more.
Byzantine’s protocol is the first permissionless restaking aggregation layer and features institutional-grade security and protocol architecture. It enables anyone to permissionlessly deploy bespoke restaking strategies via intelligent onchain vaults. Through combining different networks, restaking protocols, operators, and collateral assets, creators can deploy fully customized restaking products in the form of distinct onchain vaults, mitigating risk by keeping funds completely isolated.
Byzantine Finance Co-Founder and CEO Gaia Ferrero Regis said: “We’re grateful to our investors for sharing our belief in the need for a restaking protocol catered to the needs of professional clients. As we began to research the foundations of Byzantine, we spoke with hundreds of institutional web3 players, and were surprised to hear how many of them were blocked from participating in restaking. Byzantine fixes that. We allow institutions to build secure, segregated restaking portfolios for their operational and risk needs, helping them maximize returns and turning restaking into an institutional-grade onchain primitive.”
Alan Curtis, COO of Eigen Labs, added: “Byzantine Finance is setting a new standard for restaking infrastructure. Their commitment to advancing restaking aligns perfectly with EigenLayer’s mission and will play a key role in expanding access to restaking opportunities for institutional users.”
Restaking is currently fragmented across numerous networks including Ethereum and Layer 2s, but also Solana, BTC, and others. As a result, opportunities to participate in restaking and to earn multiple sources of yield, including ETH staking rewards, are limited. Byzantine simplifies access to restaking through an open-source protocol that enables financial managers to create sophisticated restaking strategies without increasing complexity for end-users. Byzantine also distributes points to incentivize early protocol users who meet specific criteria.
About Byzantine Finance
Byzantine is the decentralized protocol making restaking accessible to all. Designed to make restaking strategies permissionless and flexible, Byzantine supports more competitive, risk-optimized yield. As the first restaking aggregation layer, Byzantine empowers onchain users, including institutions, to do more with their assets.
Disclaimer: Any information written in this press release does not constitute investment advice. Optimisus does not, and will not endorse any information about any company or individual on this page. Readers are encouraged to do their own research and base any actions on their own findings, not on any content written in this press release. Optimisus is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release.
