The Bitcoin staking platform Acre has completed a $4 million strategic financing round, with participation from Draper Dragon and others

ChainCatcher news, according to The Block, the Bitcoin staking platform Acre has completed a $4 million strategic financing round, with participation from Draper Dragon, Big Brain Holdings, and Orange DAO.

Acre co-founder and CEO Laura Wallendal stated that this round of financing was conducted in the form of a Simple Agreement for Future Equity and token subscription rights. Wallendal mentioned that the $90 million valuation represents the fully diluted valuation of the yet-to-be-launched ACRE token.

Acre is a subsidiary of Thesis, a startup studio focused on Bitcoin, with supported projects including tBTC, Fold, and Mezo Network. Acre allows users to deposit their Bitcoin holdings to earn more Bitcoin or "compound" their Bitcoin. It achieves this through various methods, including deposit rewards. Acre's first vault partner is Mezo, a Bitcoin company.