Squads Labs Secures $10M Series A for Security and Usability

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As a seasoned crypto investor with a few years under my belt, I’ve seen my fair share of ups and downs in this market. When I first heard about Squads Labs and their focus on improving on-chain transaction security and usability, I was intrigued. Their initial success in the DAO space and the development of Squads Protocol was impressive.

As an analyst, I’d rephrase it as follows: I’m pleased to announce that Squads Labs has successfully secured $10 million in Series A funding, with Electric Capital taking the lead. We’re thrilled to have the support of investors like RockawayX, Coinbase Ventures, L1 Digital, Placeholder, and Mert Mumtaz. Their participation will enable us to significantly improve on-chain transaction security and enhance user experience at Squads Labs.

As a crypto investor and follower of the latest blockchain developments, I’ve been closely watching Squads Labs since its inception in 2021. Initially, they dedicated their efforts towards creating tools for Decentralized Autonomous Organizations (DAO). Their hard work paid off when they introduced Squads Protocol, which successfully secured a substantial value of over $10 billion in assets on the Solana and Serum ecosystems.

As a researcher studying decentralized applications, I’ve come across the Squads App, which is trusted by over 250 teams. This powerful tool enables them to manage their on-chain assets, treasuries, admin keys, and tokens in one place. The ongoing development of the Squads Protocol underpins this application, ensuring smart account security, and paving the way for more streamlined on-chain tasks for enterprises.

As a crypto investor, I’m always on the lookout for innovative solutions to manage my digital assets securely. And that’s exactly what Squads Labs has delivered with their latest offering, Fuse. Instead of relying on seed phrases which can be cumbersome and risky, Fuse ensures easy recovery of wallets. Plus, it adds an extra layer of security through two-factor authentication (2FA), making on-chain asset storage more accessible and secure for individual investors like me.

With the public TestFlight for iOS now available, a larger number of Solana users can experience the advanced smart account technology relied upon by prominent protocols, teams, and investors.

The Series A investment will enable us to create advanced SVM smart account solutions for developers. As the onchain economy expands, there will be an increasing demand for seamless integration of smart accounts and wallets across various blockchains. This development will offer users a more secure and accessible experience when interacting with different blockchains.

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2024-06-13 00:38