Side Protocol raises $1.5 million in pre-seed funding to grow cross-blockchain liquidity network
The funding was done through a simple agreement for future tokens sale, in which the token's valuation totaled $30 million, the firm's co-founder Shane Qiu told The Block. Participants include Hashkey Capital, KR1, Continue Capital, Symbolic Capital, Informal Systems, Dora Ventures, Charles Lu, Harry Halpin, Eric Chen, Mirza Uddin, Siddhartha Dutta and Vincent Niu.
, which aims to eliminate bridges and intermediary tokens for cross-blockchain asset exchange through a network of liquidity hubs.Within the next month, Qui said that Side Labs intends to launch a private testnet with a select group of members of the firm's backers and community members, in addition to building out a public testnet that explores user rewards, mesh liquidity, staking and governance and other features.
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