Radius raises $1.7 million in pre-seed funding to pioneer trustless shared sequencing layer
San Francisco, CA, June 22, 2023, Chainwire
Radius, a blockchain company pioneering the trustless shared sequencing layer, has announced raising a pre-seed investment of $1.7 million. The funding round was led by Hashed, with participation from Superscrypt, Lambdaclass (Ergodic Fund), and Crypto.com.
As rollups become more popular for many applications, including in decentralized finance (DeFi) due to its scalability, properly decentralizing its operation and structuring economical design has become the next central point for the rollup-centric ecosystem. In this regard, Shared Sequencing Layer has arisen as the ultimate solution.
Radius is dedicated to providing an economical and sustainable solution for Rollups, protecting their users from harmful Miner Extractable Value (MEV). This is achieved through a groundbreaking zk scheme known as Practical Verifiable Delay Encryption (PVDE), developed by Radius. The shared sequencing layer with PVDE ensures that users are protected from harmful MEV in a truly trustless way while still maximizing revenue for Rollups.
AJ Ji Hoon Park said:
“Radius is committed to setting the standard for a trustless shared sequencing layer that not only maximizes revenue for Rollups but also safeguards users from the harmful effects of MEV. This funding will propel us forward in achieving our goals and redefining the boundaries of what is possible in the blockchain sphere.”
Radius has also recently announced a partnership with Saga, the Rollup-as-a-Service, and has joined the Celestia Ecosystem. This partnership will drive further advancements in the rollup technology and enhance the security of the blockchain ecosystem.
In addition to these achievements, Radius is building an MEV-resistant decentralized exchange (DEX) known as 360. Enabled by Radius’ shared sequencing layer, this new DEX is expected to significantly enhance the user experience and security in the DeFi space.
Continuing its engagement with the broader blockchain community, Radius recently hosted a conference called “Scaling 2023: The Renaissance”. The event featured renowned speakers from companies such as Starkware, Flashbots, and Osmosis.
About Radius:
Radius is a blockchain technology company pioneering a trustless shared sequencing layer that offers an economical and sustainable solution for Rollups and protects users from harmful MEV. With its novel approach, Radius aims to revolutionize the Rollup space and contribute to the broader adoption of blockchain technology. Radius will launch an alpha version of its sequencing layer in Q1 of 2024.
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