Lava Network, which develops infrastructure for modular blockchains, received an investment of $ 15 million before launching its main network.
Among the names that made seed investments in the project were Jump Capital, Hashkey Capital, Tribe Capital, North Island Ventures, Dispersion Capital, Alliance DAO, Node Capital, Finality Capital Partners. It was also stated that some executives from Celestia, Cosmos, StarkWare and Filecoin projects also invested.
“Developers use Lava to send and receive blockchain data,” said Yair Cleper, CEO of Lava. “New blockchains and APIs can be added to Lava without permission, meaning the network can dynamically and quickly support the entire Web3.” said.
Node operators on Lava, which is currently on the testnet, earn rewards for providing remote procedure calls (RPC) to the network. Rewards are given based on the quality and volume of service provided.
Some blockchain projects distribute rewards to users before offering their own cryptocurrencies to the market, and distribute coins to investors according to the amount of this reward during the airdrop. However, this does not mean that every project with a reward program will airdrop.
According to the statement made by Cleper, within the scope of Lava’s Magma reward program, Magma points are given to people who switch their RPC connections to Lava. Cleper did not comment on whether Magma points could be redeemed for Lava’s cryptocurrency in the future.