On May 22, 2024, the liquidity re-pledge platform Kelp DAO successfully completed a $9 million private placement financing, marking an important progress in the field of decentralized finance (DeFi) and re-pledge. Bahamas proprietary trading company SCB Limited and Nomura Group's digital asset subsidiary Laser Digital led the investment, investing a total of $3.5 million. Other investors include Bankless Ventures, Hypersphere, etc.

The funds will be used to enhance platform capabilities, expand to other ecosystems such as Solana and Bitcoin, and further innovate re-pledge solutions. The financing has received the confidence of global investors, including support from well-known angel investors such as Gitcoin co-founder Scott and Nansen CEO Alex.

Kelp DAO co-founder Dheeraj Borra said that the financing has promoted the company's expansion in the market and made them more focused on building customer-centric solutions. Laser Digital CEO Jez Mohideen expressed support for the project, saying that they are very happy to support Kelp DAO and its passionate team to build innovative re-pledge infrastructure solutions.

Kelp DAO is one of the leading liquidity re-staking protocols, with over $850 million in assets under management and over 45,000 re-stakers. Their Liquidity Re-staking Token (LRT) was the first token to be launched on the Ethereum mainnet, pioneering liquidity re-staking and liquidity staking tokens.