About Stroom
Stroom is a Bitcoin liquid staking protocol, focusing on enhancing the utility and efficiency of Bitcoin through the Lightning Network, while also offering earning opportunities within decentralized finance (DeFi). The Stroom protocol aims to streamline the process of obtaining and providing inbound Lightning Network liquidity, thereby strengthening the overall network. Stroom stands out as a pivotal component in the rapidly growing community of Bitcoin Layer2 solutions, emphasizing the importance of scalability and speed in Bitcoin transactions.
Key Focus Areas & Use Cases by Stroom
Stroom is dedicated to advancing the Bitcoin DeFi ecosystem through several key focus areas and use cases:
- Lightning Network Enhancement: At its core, Stroom is focused on improving the Lightning Network's efficiency and accessibility. By facilitating easier connections to the Stroom Lightning Node, the protocol aims to enhance the network's capacity for handling transactions, making it faster and more scalable.
- Inbound Liquidity Solutions: One of the primary challenges within the Lightning Network is obtaining sufficient inbound liquidity. Stroom addresses this issue by providing a platform where users seeking inbound liquidity can connect with those who can provide it, thereby ensuring smoother and more reliable transactions.
- Native Bitcoin Yield: Drawing inspiration from Ethereum's DeFi success stories like Lido Finance's staked ether (stETH), we are creating a Bitcoin liquid staking derivative protocol that enables users to receive native Bitcoin yield in the form of LN routing fees.
- DeFi Opportunities: Stroom Network connects the Bitcoin Lightning Network with EVM-based blockchains like Ethereum, allowing users to earn revenue without locking up BTC or managing a node infrastructure. Users can put their BTC to work on the Lightning Network, receive liquid stBTC on Ethereum, and then earn daily network fees while using a DeFi-compatible token stBTC.
In 2023, Stroom raised $3.5 million in an oversubscribed seed funding round in led by crypto investment firm Greenfield with strategic support from Mission Street, the venture arm of ANKR.
