Big names continue to support cryptocurrency projects. Now they have invested heavily in two projects. Let’s explain the details.
Cryptocurrency project Olympix receives massive investment
There is a significant development for Olympix, the leading AI-powered Web3 security firm. It managed to raise $4.3 million in a seed funding round led by Boldstart Ventures. The initiative aims to identify vulnerabilities in smart contract code. It also aims to empower developers with scalable security solutions by focusing on addressing these vulnerabilities. Robot Ventures, Shrug Capital and other leading investors participated. The investment underscores the growing trend of venture capitalists supporting AI-driven crypto companies.
Founded in June 2022, Olympix provides security tools to developers to minimize the risks associated with smart contract vulnerabilities. Leveraging artificial intelligence technology, Olympix provides real-time scanning and analysis of code. Accordingly, it provides developers with actionable security recommendations that can be easily implemented with a single click. This proactive approach has a purpose. It saves valuable time and resources to be spent fixing security vulnerabilities after deployment.
Alluvial’s Liquid Collective raises $12 million in Series A funding
In another development, it came from software development company Alluvial. Accordingly, there are moves to further the development of Liquid Collective, a liquid staking protocol. It raised $12 million in a Series A funding round. Ethereal Ventures and Variant co-led the funding round with participation from key investors such as Brevan Howard Digital and Avon Ventures.
Demand for staking ETH has increased with Ethereum’s Shanghai update allowing staked tokens to be withdrawn. However, the cooldown for staking has increased significantly. Developed by Alluvial, Liquid Collective allows users to create in-chain receipts of their positions on PoS blockchains. Thus, it overcomes this challenge. It also eliminates long waiting times. This improves liquidity and capital efficiency. On the other hand, it allows users to use their receipts as collateral or transfer ownership of assets.
Building a solid liquid staking ecosystem
Alluvial’s decentralized and unsupervised Liquid Collective prioritizes compliance, security, and performance. Accordingly, it is designed to appeal to businesses and corporate shareholders. Thanks to its user-friendly application programming interface (API), Alluvial simplifies the integration of Liquid Collective into digital asset exchanges, custodians and various other use cases. cryptocoin.com Looking at it as a whole, the successful funding round follows Alluvial’s previous fundraising round, which saw the participation of strategic investors such as Coinbase Ventures, Kraken, Figment and Kiln.
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