Radius raises $1.7M in pre-seed funding to develop a trustless shared sequencing layer

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Radius raises $1.7 million in pre-seed funding

Blockchain firm Radius has introduced that it has raised $1.7 million in pre-seed funding. 

In a press launch shared with Coinjournal, Radius revealed that the funding spherical was led by Hashed, with participation from Superscrypt, Lambdaclass (Ergodic Fund), and Crypto.com.

Radius is about to make use of the funds to develop a trustless shared sequencing layer. In line with the Radius crew, Shared Sequencing Layer will correctly decentralise the operations of rollups.

The corporate seeks to supply economical and sustainable options for Rollups. This is able to be sure that Rollups customers are protected against dangerous Miner Extractable Worth (MEV). 

Radius will obtain this goal utilizing an revolutionary zk scheme referred to as Sensible Verifiable Delay Encryption (PVDE). The shared sequencing layer with PVDE ensures that customers are protected against dangerous MEV in a really trustless means, whereas nonetheless maximizing income for Rollups.

Radius proclaims a partnership with Saga

Whereas commenting on this newest cryptocurrency information, AJ Ji Hoon Park, mentioned;

“Radius is dedicated to setting the usual for a trustless shared sequencing layer that not solely maximizes income for Rollups but in addition safeguards customers from the dangerous results of MEV. This funding will propel us ahead in attaining our targets and redefining the boundaries of what’s doable within the blockchain sphere.”

Radius just lately introduced a partnership with Saga, the Rollup-as-a-Service platform, whereas additionally becoming a member of the Celestia Ecosystem. The partnership is designed to drive additional developments within the roll-up expertise and improve the safety of the blockchain ecosystem.

Moreover, Radius mentioned it’s at the moment creating an MEV-Resistant Decentralized Trade, referred to as 360. The brand new DEX is powered by Radius’ shared sequencing layer and is designed to considerably improve the consumer expertise and safety within the DeFi house.

Radius is a blockchain expertise firm pioneering a trustless shared sequencing layer that provides a cost-effective and sustainable resolution for Rollups and protects their customers from dangerous MEV. 

Radius goals to revolutionise the Rollup house and contribute to the broader adoption of blockchain expertise. Radius will launch an alpha model of its sequencing layer in Q1 of 2024.