Alluvial Finance
AcquiredChicago, US · Founded 2022 · Delaware corporation · 7 known investors
Staking software developer behind the enterprise liquid staking protocol Liquid Collective, acquired by Galaxy Digital in December 2025.
Also known as Alluvial · Alluvial Finance Inc.
Founders & leadership
Alluvial Finance was founded in 2022 by Matthew R. Leisinger and Mara Schmiedt.
Board
Investors · 7
Reported raises · per SEC filings
Form D private placements$20.3M disclosed across 2 rounds · 2023–2024
▶$2MraisedNov 2024 · 8 investors · Other TechnologyRule 506(b)
- Matthew R. LeisingerExecutive Officer, Director
- Mara SchmiedtExecutive Officer, Director
- Evan WeissExecutive Officer
- Min TeoDirector
- Offering amount
- $4.8M
- Amount sold
- $2M
- First sale
- Oct 2024
- Incorporated
- Corporation, Delaware, 2022
- Federal exemptions
- 06b
▶$18.3MraisedOct 2023 · 38 investors · Other TechnologyRule 506(b)
- Matthew R. LeisingerExecutive Officer, Director
- Mara SchmiedtExecutive Officer, Director
- Evan WeissExecutive Officer
- Min TeoDirector
- Offering amount
- $18.3M
- Amount sold
- $18.3M
- First sale
- Jun 2023
- Incorporated
- Corporation, Delaware, 2022
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Company profile
researched Aug 2026Alluvial Finance is a software development firm focused on institutional staking infrastructure. It served as the development organization behind Liquid Collective, an enterprise-grade liquid staking protocol that launched in 2023 in partnership with Alluvial. Through the protocol, institutional participants who stake Ethereum or Solana receive tokens representing their staked positions (for example $LsETH and $LsSOL) that can be used for trading, collateral management, and other onchain strategies.
Alluvial's technology stack included a customizable Staking Management System and developer tools designed to streamline integration for exchanges, custodians, and asset managers. Public listings describe the company as a financial services and technology software development company with 1-50 employees, associated with addresses in New Castle, Delaware. On December 4, 2025, Galaxy Digital Inc. announced its acquisition of Alluvial and assumed the role of Development Company for Liquid Collective, taking full responsibility for developing and maintaining the protocol and onboarding Alluvial's onchain engineering team and technology.
Business model
Alluvial developed software for a liquid staking protocol used by institutions rather than operating the protocol itself; Liquid Collective applies a 10% service fee to staking rewards, with revenue distributed among ecosystem participants and the protocol treasury.
Traction
Liquid Collective tripled its assets on platform to roughly $1 billion during 2025, reaching a record high total value locked of about $1.75 billion in August 2025 per DefiLlama data, and recorded Q3 2025 revenue of $743,645 from $7.3 million in fees.
Latest developments
In June 2025 Galaxy and Liquid Collective began a strategic collaboration in which Galaxy provided OTC support for $LsETH, accepted it as collateral through its global markets division, extended access to Galaxy Asset Management clients, and joined the protocol's active node operator set alongside Coinbase and Figment. Weeks later, Liquid Collective launched $LsSOL with support from custodians and exchanges including Coinbase, Kraken, Anchorage Digital, Fireblocks, and Galaxy. On December 4, 2025, Galaxy announced the acquisition of Alluvial and its assumption of the Development Company role; Liquid Collective continues to operate independently under The Liquid Foundation, an ownerless foundation that plans to broaden governance participation.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Liquid Collective, for which Alluvial was the development company, is described in the acquisition announcements as a leading enterprise-grade liquid staking protocol; on Solana, liquid staked SOL represented about 9.96% of supply, with Liquid Collective's $LsSOL among the tokens in that segment alongside Marinade's $mSOL.
Technology
Liquid staking protocol software for Ethereum and Solana that issues liquid staking tokens representing staked positions ($LsETH, $LsSOL), plus a customizable Staking Management System and developer tools for integration by exchanges, custodians, and asset managers.
Go-to-market
Institutional market participants including exchanges, custodians, asset managers, ETF issuers, liquidity providers, and digital asset trusts.
Geography
Public records list the company at New Castle, Delaware, USA; the acquirer, Galaxy, is headquartered in New York City with offices across North America, Europe, the Middle East, and Asia.
History
Alluvial partnered on the 2023 launch of Liquid Collective and served as the protocol's development organization until its acquisition by Galaxy Digital, announced December 4, 2025.
Compiled by commissioned research from 3 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Competitors · 4
by search overlap
Companies competing with Alluvial Finance for the same Google search keywords, organic and paid, via search-intersection analysis.
Timeline · 4
launches, deals, and filingsGalaxy Digital Inc. (Nasdaq/TSX: GLXY) announced it had acquired Alluvial Finance, the staking software development firm that served as Liquid Collective's development organization, taking full responsibility for developing and maintaining the protocol and onboarding Alluvial's onchain engineering team and technology, including a customizable Staking Management System and developer tools. Liquid Collective continues to operate independently under The Liquid Foundation.
Galaxy began providing OTC support for the $LsETH token and accepting it as collateral through its global markets division, extended access to $LsETH and future staking products to Galaxy Asset Management clients, and joined Liquid Collective's active set of node operators alongside firms such as Coinbase and Figment.
Liquid Collective launched $LsSOL, an institutional-grade Solana liquid staking token, with support from custodians and exchanges including Coinbase, Kraken, Anchorage Digital, Fireblocks, and Galaxy.
Liquid Collective, an enterprise-grade liquid staking protocol, launched in 2023 in partnership with Alluvial, which served as its development organization.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
Legal entities · 1
corporate structure▸Research sources · 3
primary sources listed
- Alluvial Finance - Executive Bio, Top Executies, and Transitions - Equilar ExecAtlaspeople.equilar.com · web
3 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Alluvial Finance do?
- Staking software developer behind the enterprise liquid staking protocol Liquid Collective, acquired by Galaxy Digital in December 2025.
- Who founded Alluvial Finance?
- Alluvial Finance was founded by Matthew R. Leisinger, Mara Schmiedt in 2022.
- Who are Alluvial Finance's investors?
- Alluvial Finance's investors include Ambush Capital, Coinbase Ventures, F-Prime Capital, Fenbushi Capital, Figment, Nascent, Variant Fund.
- How much funding has Alluvial Finance raised?
- Alluvial Finance has disclosed $20.3M raised across 2 rounds.
- Where is Alluvial Finance headquartered?
- Alluvial Finance is headquartered in Chicago, US.