RiskLayer Secures ‘Builders Round’ Co-Led by Antler to Foster DeFi Security

RiskLayer, built on EigenLayer that inherits the security of Ethereum, has raised a pre-seed round at an undisclosed amount.

The protocol has secured its ‘Builders round’ co-led by Antler and VC Momentum6, per a press release shared with Cryptonews.

The funding also involves investors such as Wagmi Ventures, Hypotenuse ventures, and notable angels including Zircuit founder Richard Ma.

Developers of RiskLayer – Chainrisk Labs – has so far secured more than $10 billion in AUM. It has served protocols including Compound, Angle Labs, and entire ecosystems from Arbitrum to Fuel Network with end-to-end Economic Risk Management solution.

“We are very excited about the momentum Chainrisk Labs has built quickly, to emerge as one of the most promising Web3 projects globally, when it comes to economic security,” said Nitin Sharma, global co-lead for Web3 at Antler.

Further, RiskLayer proposes two separate Actively Validates Services (AVSs) on EigenLayer, latest Ethereum restaking protocol. The AVS acts as a solution to key DeFi economic security concerns, the release added.

Nilotpal Mukherjee, founder of Symbiote & General Partner Momentum6, noted that the RiskLayer team has been “razor-focused” on solving the multi-billion dollar problem in Web3, economic security, with its deep association with the Eigen ecosystem.

“Being associated with the team so closely since the start, I can confidently claim that their maturity, understanding and clarity of the space is unparalleled and wish the team all the luck for their future milestones.”

RiskLayer Builds Risk Infrastructure to Onboard Institutions Into Crypto

Per Ishaan Hiranandani, EigenLayer strategy lead, the company is aiming to on-board institutions into crypto by building necessary risk infrastructure.

The two RiskLayer-proposed AVS are Risk Oracle AVS, the data provider of DeFi risk, and the Risk Rollup AVS.

The former utilizes proof-of-risk consensus, while, the later economically secures app-specific rollups created on RiskLayer to build structured financial products. These product rollups have the potential to be risk intelligent, the company wrote.

The post RiskLayer Secures ‘Builders Round’ Co-Led by Antler to Foster DeFi Security appeared first on Cryptonews.

HOT news

Related posts

Latest posts

Microsoft introduces a pair of in-house AI fashions

Microsoft is increasing its AI footprint with the discharge of two new fashions that its groups skilled utterly in-house. MAI-Voice-1 is the tech main's...

5,000+ Blockchain Corporations Already In The U.S. – Is A World Energy Shift Underway?

The US is shortly changing into a house base for blockchain and crypto corporations that had been beforehand based mostly outdoors the area.Current knowledge...

BTC, ETH, XRP, BNB Warnings: Revenue Standing May Set off Value Declines Quickly

TL;DR Physician Revenue warns that 90–100% of crypto buyers in revenue may set off mass profit-taking and subsequent worth drops. XRP weakens whereas...

Fubo Sports activities will make a play for soccer followers’ {dollars} on September 2

Fubo is making a transfer to draw new subscribers forward of the NFL season. The corporate's new Fubo Sports activities bundle contains content material...

Bitcoin’s $112K Assist Beneath Hearth – Bull Run Pause or Market High?

Bitcoin has returned to the important thing $112K help stage, which now faces intense stress that might both spark a continuation of the bull...

Want to stay up to date with the latest news?

We would love to hear from you! Please fill in your details and we will stay in touch. It's that simple!