Based on ChainCatcher, Galaxy Digital has announced the acquisition of Alluvial Finance, taking over the technical development of the institutional liquid staking platform Liquid Collective. Liquid Collective supports staking of ETH and SOL while maintaining asset tradability. Launched in 2023, the platform recorded a TVL of $1.75 billion in August, currently standing at around $1 billion. The protocol charges a 10% service fee on staking rewards, generating $380,000 in revenue in October alone. Galaxy founder Mike Novogratz stated the move is a natural extension of the company's strategy to build institutional-grade on-chain infrastructure. The acquisition grants Galaxy access to Alluvial's staking tools, with plans to add support for more assets.
Galaxy Acquires Alluvial to Expand Institutional Staking Infrastructure
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