Key Points
- Decentralized protocol Prosper has secured funding from BIT Mining, strengthening its Bitcoin mining and liquidity farming solutions.
- The investment follows a previous undisclosed funding from Waterdrip Capital, causing a 7% rise in Prosper’s PROS token value.
Prosper, a decentralized protocol that links Bitcoin mining to the blockchain through hashrate-backed tokens, has secured a strategic investment from BIT Mining in its native token, PROS. The investment is seen as another major endorsement of Prosper’s approach by institutional investors.
Investment Boosts Prosper’s Viability
The investment underscores the credibility and potential of Prosper’s strategic vision, according to the investment vehicle. However, the details of the deal have not been made public.
This funding follows a previous undisclosed investment from Waterdrip Capital, a venture capital firm established by Chinese entrepreneurs with a focus on blockchain. Waterdrip also invested in Prosper’s PROS token, which subsequently experienced a 7% increase in value, reaching $0.52.
About Prosper
Prosper was established in 2021 as a decentralized protocol that uses Bitcoin’s hashrate to fully utilize the network by bringing institutional-grade mining power on-chain. The protocol enables PROS token holders to earn passive income through limited-duration staking reward campaigns.
In the future, to qualify for these rewards, PROS holders will need to participate in protocol governance by casting at least one vote every three months, either on BNB Chain (formerly Binance Smart Chain) or Ethereum.