Pell Network Successfully Raises USD 1.5 Million via xLaunchpad
Deal News | Apr 15, 2025 | CEE Legal Matters
ZIC Legal has successfully advised Pell Network | BTC Restaking on a significant financial milestone: its public offering on xLaunchpad that raised USD 1.5 million. This event was complemented by the company's subsequent token listing on the cryptocurrency exchange Bybit. Pell Network specializes in decentralized finance, specifically engineered as an omnichain restaking network aggregating BTC and EGLD staking with LST restaking services. This strategic move addresses the increasing demand for a secure, scalable, and decentralized infrastructure within the crypto market. The ZIC Legal team handling the case consisted of Partners George Zlati, Adina Ionescu, and Simona Chiperi.
Sectors
- Decentralized Finance (DeFi)
- Legal Services
- Cryptocurrency Exchange
Geography
- Global – The activities involve global platforms like xLaunchpad and Bybit, indicating a global market reach.
Industry
- Decentralized Finance (DeFi) – This applies to Pell Network as it operates within the decentralized finance space, offering services like restaking to secure, scalable, and decentralized infrastructure in the crypto space.
- Legal Services – ZIC Legal provided legal advisory services, guiding Pell Network through its public offering and token listing.
- Cryptocurrency Exchange – Bybit, the platform where Pell Network's token was listed, falls under this category.
Financials
- USD 1.5 million – The amount raised by Pell Network through the public offering on xLaunchpad.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Pell Network | BTC Restaking | Target Company | Company | A decentralized finance company that aggregates BTC and EGLD staking with LST restaking services. |
| ZIC Legal | Legal Advisor | Company | A legal firm that advised Pell Network on its public offering and token listing. |
| xLaunchpad | Public Offering Platform | Company | The platform on which Pell Network conducted its public offering. |
| Bybit | Cryptocurrency Exchange | Company | A cryptocurrency exchange where Pell Network's token was listed. |
| George Zlati | Partner | Person | A partner at ZIC Legal who worked on the Pell Network public offering advisory. |
| Adina Ionescu | Partner | Person | A partner at ZIC Legal who worked on the Pell Network public offering advisory. |
| Simona Chiperi | Partner | Person | A partner at ZIC Legal who worked on the Pell Network public offering advisory. |