NodeKit Raises $1.2M in Pre-Seed Round
NodeKit, the team behind Avalanche-based network SEQ, has successfully raised $1.2 million in a pre-seed funding round. The round was led by Borderless Capital, with participation from the Avalanche Blizzard Fund, Polygon Ventures, and Wormhole Cross-Chain Ecosystem Fund.
Building SEQ for Rollup Chains
NodeKit is focused on developing SEQ, a shared sequencer Layer 1 network that will facilitate the launch and decentralization of rollup chains. SEQ will function as an independent blockchain or subnet within the Avalanche ecosystem.
Interoperability and Compatibility
SEQ aims to be compatible with most existing rollup chains in the Ethereum ecosystem. This includes software compatibility with smart contract rollups like ZK and optimistic rollups, as well as frameworks like OP Stack. Rollups integrated with SEQ will also gain cross-chain interoperability with each other.
New Design Space for Rollups
Noah Pravecek, CEO of NodeKit, emphasized that their project enables seamless interoperability among rollups, allowing on-chain applications to compete directly with centralized off-chain applications. This opens up new possibilities for rollup design without compromising on decentralization or user growth.
Supporting Data Availability Layers
SEQ’s design will also support various data availability layers such as Celestia.
Testnet and Mainnet Launch
The testnet launch of SEQ is scheduled for 2024, followed by the mainnet release at a later date.
Leveraging Avalanche’s HyperSDK
SEQ is one of the first major projects to be developed using Avalanche’s HyperSDK software toolkit. The HyperSDK offers builders the flexibility to customize while optimizing for custom blockchains built on Avalanche.
Avalanche’s Entry into Ethereum Layer 2
NodeKit’s venture marks Avalanche’s entry into the competitive Ethereum Layer 2 market. Layer 2 sequencers earn fees from user transactions, with popular Layer 2 solutions like Optimism and Arbitrum generating millions of dollars in total fees in recent months.
Hot Take: NodeKit Revolutionizing Rollup Chains with SEQ
NodeKit’s SEQ network is set to revolutionize the world of rollup chains by providing seamless interoperability and a new design space. With compatibility across various rollup chains and support for data availability layers, SEQ opens up opportunities for on-chain applications to compete directly with centralized off-chain alternatives. By leveraging Avalanche’s HyperSDK, NodeKit is at the forefront of innovation in the Ethereum Layer 2 niche. The launch of SEQ’s testnet in 2024 will be a significant milestone, paving the way for its mainnet release and further advancements in the rollup ecosystem.
By
By
By
By
By
By