Lava Network Raises $15 Million in Seed Funding, Introducing Magma
Lava Community Raises $15 Million in Seed Funding, Introducing Magma
Lava Community has successfully secured $15 million in a seed funding spherical, introducing the next phase of the mainnet.
In accordance with a most up-to-date weblog publish by Lava Community, the seed funding spherical was as soon as co-led by Tribe Capital, Jump Capital, and Hashkey Capital. Alliance DAO, Node Capital, North Island Ventures, Finality Capital Partners, and other traders participated within the spherical.
Furious to part Lava Protocol’s $15 million seed raise to originate a modular knowledge safe admission to layer for Ethereum & web3.
We’re furthermore introducing our next phase to Mainnet: Magma.
Pockets users can now diagram capabilities on @ethereum, @NEARProtocol, @Starknet, @EvmosOrg and @axelarnetwork. pic.twitter.com/RwUTDHF4F4
— Lava Community 🌋 (@lavanetxyz) February 15, 2024
Lava Community’s Modular Architecture
The funding was as soon as geared in direction of setting up a if truth be told crucial modular knowledge safe admission to layer for web3, surroundings it other than initiatives like Celestia and Dymension that consideration on knowledge availability, settlement, and consensus.
Lava’s architecture would enable scalable multi-chain safe admission to by allowing the addition of APIs and chains as modules with out permission. Node operators will make contributions by serving these modules, while the protocol ensures effectivity by directing requests to the optimal node suppliers.
“Lava is a unified platform bringing together knowledge suppliers across any chain and any carrier: RPC, indexing, oracles, MEV APIs, sequencers etc,” consistent with the weblog.
“Get right of entry to to blockchain knowledge is severe and somebody can make contributions to the Lava layer to abet scale web3,” the weblog reads.
Magma Components: Rewarding Community Contributors
Lava Community furthermore launched the next phase of their mainnet, introducing Magma level earning rewards.
Customers can now receive capabilities by altering the wallets’ connection to Lava. Besides, users can diagram bonus capabilities utilizing associate wallets including Leap Cosmos and Sender Pockets.
In the ecosystem, capabilities were designed to acknowledge contributions across a number of roles. As an instance, App developers can diagram capabilities by launching initiatives and making requests through Lava. Delegators can accrue capabilities by supporting community suppliers and validators, bettering community effectivity and security.
Besides, knowledge suppliers could possibly receive capabilities for operating nodes and delivering knowledge across various blockchains. This structured capabilities blueprint deliberate to incentivize participation, asserting Lava’s unbiased to present scalable, multi-chain knowledge safe admission to.
“Rewards are disbursed consistent with quantity served and quality of carrier, i.e., saunter, uptime, and accuracy, thereby optimizing efficiency for developers and users,” acknowledged Lava Community CEO Yair Cleper.
Source : cryptonews.com
