Alluviall, developer of institutional-grade liquidity staking protocol Liquid Collective, announced it has closed a $12 million Series A round led by Ethereal Ventures and Variant, with participation from Brevan Howard Digital, Coinbase Ventures, Kraken and Fidelity’s Avon Ventures.

Alluviall is a company incorporated in Delaware and Liquid Collective Foundation is registered in the Cayman Islands. The team is spread across the US, Europe and Dubai. Alluvial plans to use the funds to expand the team to continue product development and expand staking services to other blockchain networks.