Galaxy acquires Alluvial to expand institutional staking infrastructure

According to Decrypt, Galaxy Digital announced the acquisition of Alluvial Finance, taking over the technology development of the institutional liquid staking platform Liquid Collective. Liquid Collective supports institutional staking of ETH and SOL while maintaining asset tradability.

Launched in 2023, the platform set a TVL record of $1.75 billion in August, 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 that this move is a natural extension of the company's strategy to build institutional-grade on-chain infrastructure. After the acquisition, Galaxy gains Alluvial's staking tools and plans to add more asset support.