As a seasoned crypto investor with a soft spot for Cardano (ADA), I find the recent $2 million pre-seed funding round for Helix Labs particularly exciting. With Tribe Capital, EMURGO Ventures, Taureon Capital, LD Capital, and Double Peak Group leading the charge, this move signals a significant step towards unlocking the potential of ADA’s liquidity in decentralized finance (DeFi).
Helix Labs has raised $2 million in a pre-seed funding round, valuing the company at $40 million.
This round of financing was primarily spearheaded by Tribe Capital, EMURGO Ventures, Taureon Capital, LD Capital, and Double Peak Group, as stated in a company press release. The main objective of this funding is to enhance the flow of Cardano (ADA) into the realm of decentralized finance.
At Helix Labs, our primary goal is to create a system enabling Cardano token holders to both stake their coins and utilize them within DeFi simultaneously. Typically, when you stake cryptocurrency, it’s locked up to help maintain the network and earn rewards. But this usually means your tokens can’t be used elsewhere. Helix Labs aims to break free from this limitation.
Cardano’s $12b liquidity
As stated in the announcement, Helix Labs’ technology empowers ADA holders to deposit their assets and receive a “liquid staked ADA” token as a result. This new token can be utilized across multiple DeFi platforms, thus freeing up approximately $12 billion of previously untapped ADA liquidity.
The organization has enrolled in the Movement Labs’ Move Collective incubation program, designed to facilitate the growth of Cardano’s liquidity within decentralized finance (DeFi) environments. As a result, ADA tokens can now be utilized for lending, trading, and various other financial operations that were previously inaccessible.
At Helix Labs, we provide three primary services tailored for blockchain aficionados. Our initial offering, Helix Vault, seamlessly combines staking mechanisms across numerous blockchains such as Cardano, enabling users to optimize their income from assets.
The UniRollup L2 system simplifies the use of staked ADA in various DeFi applications, opening up decentralized finance opportunities for ADA owners. Furthermore, OmniVM AVS offers resources such as liquidity and guidance to help new projects get off the ground within the evolving Layer-3 ecosystem.
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2024-09-23 18:08