Layer N, a NYC-based developer of a scalable layer 2 blockchain, raised a funding round of undisclosed amount.
The round was co-led by Founders Fund, and dao5, with participation from SALT, Kraken Ventures, Mirana Ventures, Amber Group, Spencer Noon, Karthik Raju, and more.
The company will use the funds to expand operations and its development efforts. Layer N is beginning its process of talking with early-stage teams and developers to grow its ecosystem ahead of its public release.
Co-founded by experienced DeFi professionals Dima Romanov, David Cao, and Sheheryar Parvaz, Layer N is advancing a layer 2 network designed to hyper-scale financial applications on Ethereum. It is officially coming out of stealth with a network of highly specialized rollups for the financial ecosystem. These rollups offer hyper-performance and EVM composability under a shared liquidity and a shared communication layer, with the ultimate goal of becoming an infrastructure optimized for financial applications and dedicated to onboarding institutional liquidity. Its fully modular architecture allows the network to be optimized along every single component of the stack. Layer N will enable high-frequency applications and highly intensive and complex computations and transactions that are currently impossible to deploy on existing blockchains.
In the coming weeks, Layer N will be deploying a public testnet where people can observe and experience the performance improvements of Layer N firsthand. The first project that will go live on testnet is Nord, a specialized exchange rollup built to be the first ever on-chain order book infrastructure that is comparable to existing centralized exchanges from a performance, user experience, and computing perspective. Additionally, it is fully composable with a public smart contract EVM layer through the Layer N shared communication layer.
FinSMEs
14/09/2023