Decentralized protocol Prosper secures funding from BIT Mining because it expands its answer to incorporate institutional-grade Bitcoin mining and liquidity farming.
Prosper, a decentralized protocol bridging Bitcoin (BTC) mining to the blockchain by offering hashrate-backed tokens representing stay Bitcoin mining energy, has introduced that BIT Mining has made a strategic funding in its native token, PROS. In a weblog announcement on Nov. 14, Prosper mentioned the funding represents “another significant validation” of its thesis by institutional backers.
“This investment reinforces the credibility and viability of Prosper’s new strategic vision,” the funding car said.
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The dimension of the deal was not disclosed. The newest funding comes only a week after Prosper additionally obtained an undisclosed “key investment” from Waterdrip Capital, a enterprise capital agency based by Chinese blockchain-aimed entrepreneurs. At the time, Waterdrip additionally invested in Prosper’s PROS token. Following BIT Mining’s funding, PROS worth gained 7%, hovering to $0.52.
Founded in 2021, Prosper is a decentralized protocol that leverages Bitcoin hashrate to unlock the complete potential of the community by bridging institutional-grade mining energy on-chain. The protocol permits PROS token holders to earn passive earnings by way of “limited-duration” staking reward campaigns.
In the longer term, to be eligible, PROS holders would want to have interaction in protocol governance by casting a minimum of one vote each three months, both on BNB Chain (previously Binance Smart Chain) or Ethereum.
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