Thruster Finance Raises $7.5 Million to Propel Ethereum Layer 2 Innovations

Pantera Leads Funding for Thruster

Thruster Finance has successfully completed a seed funding round, gathering $7.5 million to enhance its operations on Ethereum's Layer 2 solution, Blast. This funding round, orchestrated by Pantera Capital, has notably increased Thruster's valuation to an estimated $70 million. Other key participants included OKX Ventures, Mirana Ventures, Paradise Capital, Manifold Ventures, and Arche Fund, formerly known as Coin98 Ventures.

With significant contributions from angel investors such as Santiago Santos of Frax and Sam Kazemian of Stacked, the round promises substantial impacts. The investment strategy primarily utilized SAFE agreements and token warrants, indicating robust confidence in Thruster’s future.

Thruster has 100,000 users, $2B in transaction volume, and $320 million in total locked value

Since its March launch on Blast, Thruster has rapidly become a leading DeFi protocol on Ethereum Layer 2, amassing over 100,000 active users and nearing $2 billion in trading volume. The platform boasts a total value locked (TVL) of approximately $320 million. It offers deep liquidity and a competitive range of assets, enhancing user experiences and market efficiency.

Thruster expands team to optimize functionality and user experience

Thruster’s strategic plan includes expanding its engineering team and enhancing its platform to mirror the functionality and user experience of centralized counterparts, fostering broader adoption. The roadmap involves partnerships across DeFi and NFTFi sectors, aiming to integrate Thruster's offerings into major protocols, enhancing overall functionality and fostering innovation within the DeFi network.

The recent infusion of capital, coupled with bold development plans, underscores Thruster’s trajectory towards substantial growth and innovation. The aim is to revolutionize cryptocurrency management and regulation within the decentralized finance space.

As the cryptocurrency ecosystem evolves, Thruster’s focus on yield, liquidity, and user experience positions it at the forefront of future developments.