Summary:
Side Labs, the startup behind Side Protocol, has raised $1.5 million in pre-seed funding through a token sale. The funds will be used to expand the team and develop the Mesh Liquidity Network, which aims to enable cross-blockchain asset exchange without the need for intermediary tokens. Side Labs plans to launch a private testnet and a public testnet within the next month, followed by the release of the mainnet and a V2 testnet incorporating zero-knowledge technology within six months. The company’s ultimate goal is to provide mesh liquidity to L1 and L2 protocols within the next year.
Key Points:
- Side Labs raised $1.5 million in pre-seed funding through a token sale.
- The funds will be used to expand the team and develop the Mesh Liquidity Network.
- Side Labs plans to launch a private testnet and a public testnet within the next month.
- The company aims to release the mainnet and a V2 testnet with zero-knowledge technology within six months.
- Side Labs intends to provide mesh liquidity to L1 and L2 protocols within the next year.
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Hot Take:
Side Labs’ successful pre-seed funding round and its plans to develop the Mesh Liquidity Network demonstrate the growing interest in cross-blockchain asset exchange. By eliminating the need for intermediary tokens, Side Labs aims to simplify and streamline the process, making it more efficient and accessible for users. The launch of the private and public testnets, as well as the incorporation of zero-knowledge technology, show the company’s commitment to innovation and progress in the space. With the goal of providing mesh liquidity across different protocols, Side Labs has the potential to play a significant role in the future of decentralized finance.
