Asymmetry Finance, which is a protocol that allows liquid staking of derivatives, has raised $3 million as part its growth plan from Ecco Capital. Republic Capital, GMJP, and Ankr.

According to a release, the company “will use the resources to further its liquid staking protocols, add top talent into the team and onboard Decentralized Finance (DeFi), enthusiasts to its platform.” Justin Garland, Hannah Hamilton and their co-founders are leading the project.

According to deFiLlama, Lido dominates the market for liquid derivatives. It has around $12.4 billion in “total value”, or collateral, locked up. Asymmetry’s site estimates Lido to have 88% of the staked-ether market.

According to ‘s website, Asymmetry’s primary product is the “safETH” token. This token represents a basket containing liquid staking derivatives such as Lido’s WSTETH, Rocketpool’s RETH, Frax’s frxETH and Stakewise’s SETH2.

Garland compared the token with an ETF or exchange-traded funds for liquid staking.

According to the whitepaper of the project, the weighting could be decided by members who hold ASF tokens from the project.

Parikshit Miishra is the editor.