The Lightning Network liquidity staking protocol UTXO Stack has completed its Series A financing and will airdrop incentives for CKB and RGB++ assets

ChainCatcher news, the Lightning Network liquidity staking protocol UTXO Stack has completed its Series A financing with a valuation of $50 million, jointly invested by UTXO Management, CMS, and PAKA.

After this round of financing, UTXO Stack will launch its first-ever large-scale airdrop incentive program targeting BTC liquidity within the Lightning Network in early January 2025. Subsequently, it will coordinate with the launch of the CKB Lightning Network Fiber Network mainnet to provide liquidity airdrop incentives for CKB and RGB++ related assets. The Token Generation Event (TGE) is expected to be completed in Q1 2025, marking the first TGE in the Lightning Network ecosystem.

It is reported that UTXO Stack had previously completed a seed round of financing, co-led by ABCDE Capital and SNZ Capital, with participation from CKB Eco Fund, OKX Ventures, UTXO Management, Waterdrip Capital, Matrixport, y2z Ventures, and DRK Lab.