Semantic Layer Secures $3 Million Seed Round Led by Figment Capital
Funding Overview
Semantic Layer, a developer of decentralized application (dApp) infrastructure, has raised $3 million in a seed funding round that marks the firm's total funding thus far.
Leading Investors
- Figment Capital
- Hack VC
- Robot Ventures
- Bankless Ventures
- Fenbushi Capital
- Anagram
- Perridon Ventures
According to a recent release shared with The Block, Figment Capital led this funding round, which has garnered additional support from various other investors.
Technology Advancements
Semantic Layer aims to strengthen transaction execution infrastructure through its innovative tools, Verifiable Aggregation Rules (VAR) and Verifiable Sequencing Rules (VSR). These enhancements provide dApps improved control over multi-blockchain transaction ordering and bundling.
Reducing MEV Leakage
With VAR and VSR operating within Semantic Layer's application-specific sequencing (ASS) framework, the platform can reduce maximal extractable value (MEV) leakage and enable dApps to identify malicious transactions via circuit breakers.
Purpose of Funding
As co-founder Daniel Tong mentioned, the primary goal of this funding round is to further develop the core of the semantic layer and amplify market awareness regarding ASS, which includes sponsorship of research and developer discussion events.
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