Pell Network Secures $3M Funding to Construct an Innovative Omnichain DVS Network

Pell Network Secures Significant Funding for DVS Network Development

Pell Network has successfully secured $3 million in pre-seed funding to advance its Omnichain Decentralized Validation Services (DVS) network. This funding round, announced on October 16, 2024, was co-led by Paper Ventures, Halo Capital, and Mirana Ventures, alongside participation from various investors.

Funding Round and Key Contributors

• Participating investors include Delta Blockchain Fund, D11-Labs, and ArkStream Capital.
• Funding to enhance Pell’s vision of a universal trust network and improve DVS.

Development Focus on Omnichain DVS Network

The funds will support Pell's goal of building an omnichain DVS network powered by restaking. The integration of Liquid Staking Tokens is designed to break down barriers among siloed blockchains, promoting sustainability in the ecosystem.

Architecture and Market Growth

Pell’s innovative architecture comprises the Restaking Layer, Pell Chain, and Service Layer. These components are structured to optimize resource allocation and maximize returns.

• Pell has achieved over $300 million in Total Value Locked (TVL).
• The platform supports more than 430,000 stakers across 20 blockchain networks.

Engagement and Future Strategies

Pell Network’s initial traction sets the scene for it to emerge as a leading player in cross-chain applications. Various community engagement strategies, including the upcoming Testnet launch and Airdrop Campaign, aim to foster user participation and reward early adopters with valuable incentives.

About Pell Network

Pell Network is dedicated to building an omnichain DVS network that leverages cryptoeconomics for a decentralized validation services marketplace. The goal is to foster long-term growth across the blockchain ecosystem.