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Layer N, an Ethereum layer-2 network supported by Peter Thiel’s Founders Fund, has launched a brand new liquidity program for apps built on its StateNet architecture.
Layer N first left stealth in September 2023, if this announced it’d closed a $5 million funding round supported by Founders Fund. Now Layer N states its new liquidity program marks a milestone in efforts introducing sustainable and powerful liquidity in to the DeFi space, targeting protocols in their nascent stages to assist in their market entry.
Digital finance firm Amber Group would be the first participant within this program, adding a substantial $20 million to assist empower partners inside the Layer N ecosystem. This collaboration underscores the program’s intent to furnish developers using the necessary tools and money to innovate and rival traditional banking institutions.
Dima Romanov, Chief executive officer and co-founding father of Layer N, hailed the launch like a pivotal moment for the organization and also the broader DeFi landscape.
“By supplying seamless use of liquidity and equipping developers with essential sources, we’re setting happens for any new trend of innovation and development in the DeFi sector,” he stated in an announcement.
Steven Shi, investment partner at Amber Group, stated he regards Layer N because the premier architecture for DeFi applications since it is “merging top-tier crypto infrastructure rich in-performance abilities without compromising Ethereum’s security or fragmenting liquidity.”
He emphasized Amber Group’s dedication to supporting Layer N in fostering liquidity and expanding the ecosystem.
Thiel’s Founders Fund has already established an active 2024. The fund took part in a $280 million Series D round for Neuralink, an Elon Musk-backed startup that’s centered on brain hacking.
“Excited to aid Neuralink’s next chapter of helping human patients in need of assistance,” Scott Nolan, partner at Founders Fund, subsequently published to Twitter at that time. “The team has worked for seven many years to make this a reality, pulling off technical breakthroughs that seem like sci-fi.”
Editor’s note: This short article was written with the help of AI. Edited and fact-checked by Stacy Elliott.
