Galaxy acquires Alluvial to expand institutional staking infrastructure

According to ChainCatcher, as reported by Decrypt, 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 institutional staking of ETH and SOL, while maintaining asset tradability.

The platform was launched in 2023, and in August its TVL reached a record of $1.75 billion, currently around $1 billion. The protocol charges a 10% service fee on staking rewards, with monthly revenue reaching $380,000 in October.

Galaxy founder Novogratz stated, this move is a natural extension of the company's strategy to build institutional-grade on-chain infrastructure. After the acquisition, Galaxy will obtain Alluvial's staking tools, and plans to add support for more assets.