ROAD TOWN, British Virgin Islands, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Helix Labs, a pioneering protocol supporting an AltVM future through restaking beyond ETH, today announced the successful closure of its pre-seed funding round, raising $2 million at a $40 million valuation. The round was led by prominent investors including Tribe Capital, EMURGO Ventures, Taureon Capital, LD Capital, and Double Peak Group.
Helix Labs is developing a groundbreaking protocol that maximizes yield earning opportunities for non-ETH L1 asset holders through restaking and supports a MoveVM rollup future through liquidity abstraction and its OmniVM stack. The company's innovative approach aims to enhance token utility, expand EigenFi capacity, and provide liquidity as a service to emerging L3 ecosystems.
Unlocking $12B of Liquidity in Cardano's ADA
In a significant development for the Cardano ecosystem, Helix Labs' technology will unlock approximately $12 billion in liquidity by allowing token holders of Cardano's native cryptocurrency, ADA, to stake their assets while receiving liquid staked ADA. This can then be bridged to Movement, opening up a vast array of DeFi opportunities that were previously inaccessible to Cardano users.
"We're thrilled to have the support of such esteemed investors as we work to reshape the landscape of restaking and liquidity provision in ...
