Radius, a leading-edge blockchain company, has successfully raised $1.7 million in a pre-seed investment round. The funding round was spearheaded by Hashed and saw participation from Superscrypt, Lambdaclass (Ergodic Fund), and Crypto.com.
Radius is at the forefront of developing a trustless shared sequencing layer, a solution that is gaining traction as rollups become increasingly popular for various applications, including decentralized finance (DeFi). The company’s focus is on decentralizing operations and structuring an economical design for the rollup-centric ecosystem.
The company’s innovative solution, the Practical Verifiable Delay Encryption (PVDE), is a groundbreaking zero-knowledge (zk) scheme that aims to protect users from harmful Miner Extractable Value (MEV). This shared sequencing layer with PVDE ensures maximum revenue for Rollups while safeguarding users in a truly trustless manner.
AJ Ji Hoon Park, a representative from Radius, expressed the company’s commitment to setting the standard for a trustless shared sequencing layer. “This funding will propel us forward in achieving our goals and redefining the boundaries of what is possible in the blockchain sphere,” Park said.
Radius has also recently announced a partnership with Saga, the Rollup-as-a-Service, and has joined the Celestia Ecosystem. This collaboration is expected to drive further advancements in rollup technology and enhance the security of the blockchain ecosystem.
In a bid to further enhance user experience and security in the DeFi space, Radius is currently developing an MEV-Resistant Decentralized Exchange, known as 360. This new DEX, enabled by Radius’ shared sequencing layer, is expected to significantly improve the DeFi landscape.
Radius continues to engage with the broader blockchain community, as evidenced by its recent hosting of the “Scaling 2023: The Renaissance” conference. The event featured renowned speakers from companies such as Starkware, Flashbots, and Osmosis, further solidifying Radius’ position as a thought leader in the industry.
Radius is a pioneering blockchain technology company that offers an economical and sustainable solution for Rollups, protecting their users from harmful MEV. With its novel approach, Radius aims to revolutionize the Rollup space and contribute to the broader adoption of blockchain technology. The company plans to launch an alpha version of its sequencing layer in Q1 of 2024.
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