Skip, a New York-based company dedicated to building infrastructure that enables blockchains to achieve long-term financial sustainability by harnessing Miner Extractable Value (MEV), raised $6.5M in Seed funding.
The round was led by Bain Capital Crypto, with participation from Jump Crypto, Galaxy, Robot Ventures, Lightspeed Faction, IEX Group, Informal Systems, Zaki Manian, Nick White, and Jake Hartnell.
The company intends to use the funds to develop its platform.
Founded in 2022 by veteran software developers Barry Plunkett and Maghnus Mareneck, Skip is advancing a platform that allows users and traders to pay for transaction prioritization and privacy in a sealed-bid auction with the goal of democratizing access to MEV opportunities and profits. Skip’s infrastructure is designed to share MEV profits to validators, stakers, and protocols, while making it easier for traders to execute their strategies. It also protects users from gas wars, transaction spam, frontrunning and sandwich attacks, and other downsides of toxic MEV extraction.