Ethereum scaling network developer Layer N has raised $5 million in a seed round co-led by Founders Fund and dao5.
last November. At the time, Layer N said FTX Ventures, Solana Ventures, Solana Foundation, and Solana Labs co-founders Anatoly Yakovenko and Raj Gokal were investors in Layer N. Romanov now says,"we never ended up taking any money/ signing anything," and that the round was called off after the collapse of FTX.
When asked if Layer N is planning to launch its own native token, Romanov said there is no concrete plan for that yet.Layer N is an Ethereum Layer 2 network that aims to help create an on-chain rival to the Nasdaq. It is specifically designed to scale financial applications on Ethereum."We spent two years building, talking to users, engaging institutional firms, and experienced first-hand the many challenges that protocols faced.
Layer N said Nord's on-chain infrastructure is comparable to existing centralized exchanges from a performance and user experience perspective. Node will allow decentralized exchanges to launch their own rollups to enable Binance/ Coinbase-like performance, Romanov said, adding that"no other product compares to that ."
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