Radius secures $1.7M pre-seed funding for trustless shared sequencing layer development.

Summary

  • Radius has raised $1.7 million to fund its trustless shared sequencing layer development

  • The trustless shared sequencing layer will decentralize the operations of rollups

Radius raises $1.7 million in pre-seed funding

Radius, a blockchain company, has announced that it has raised $1.7 million in pre-seed investment. The funding round was led by Hashed, with participation from Superscrypt, Lambdaclass (Ergodic Fund), and Crypto.com. Radius plans to use the funds to develop a trustless shared sequencing layer, which will properly decentralize the operations of rollups.

The company seeks to provide economical and sustainable solutions for rollups, ensuring that rollup users are protected from harmful Miner Extractable Value (MEV). Radius will achieve this objective using an innovative zk scheme known as Practical Verifiable Delay Encryption (PVDE). The shared sequencing layer with PVDE will protect users from harmful MEV in a truly trustless way while maximizing revenue for rollups.

Radius announces a partnership with Saga

Radius recently announced a partnership with Saga, the Rollup-as-a-Service platform, and joined the Celestia Ecosystem. The partnership is designed to drive further advancements in roll-up technology and enhance the security of the blockchain ecosystem.

Radius is also currently developing an MEV-Resistant Decentralized Exchange, known as 360. The new DEX is powered by Radius’ shared sequencing layer and is designed to significantly enhance the user experience and security in the DeFi space.

Radius aims to revolutionize the Rollup space and contribute to the broader adoption of blockchain technology. An alpha version of its sequencing layer will launch in Q1 of 2024.

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