NodeKit closes $1.2 million pre-seed round to build Avalanche-based network for rollups
NodeKit, the group engaged on Avalanche-based community SEQ, has raised $1.2M in a pre-seed spherical led by Borderless Capital, with participation from the Avalanche Blizzard Fund, Polygon Ventures and Wormhole Cross-Chain Ecosystem Fund.
NodeKit is constructing SEQ, a shared sequencer Layer 1 community that may support rollup chains in launching and decentralizing their transactional sequencing. SEQ will function as a person blockchain or subnet within the Avalanche ecosystem.
Most current rollup chains within the broader Ethereum ecosystem will likely be appropriate with SEQ when it comes to software program, together with sensible contract rollups (reminiscent of ZK and optimistic) and frameworks like OP Stack. Moreover, rollups integrating with SEQ will achieve cross-chain interoperability with one another.
“NodeKit permits rollups to have seamless interoperability, which unlocks progressive rollup design, empowering on-chain functions to straight compete with centralized off-chain functions,” “Noah Pravecek, CEO of NodeKit, acknowledged. “This allows a brand new design area for rollups, the place they don’t have to decide on between decentralization or excessive person development.”
SEQ’s design may even help numerous information availability layers like Celestia.
The testnet launch of SEQ is deliberate for 2024, adopted by a mainnet launch later.
Leveraging Avalanche’s HyperSDK
SEQ is among the first main initiatives to be developed utilizing Avalanche’s HyperSDK software program toolkit. HyperSDK presents builders customizability whereas optimizing for customized blockchains constructed atop Avalanche.
NodeKit marks Avalanche’s entry into the extremely aggressive and ever-expanding Ethereum Layer 2 area of interest. Layer 2 sequencers acquire charges as customers transact, with high Layer 2s like Optimism and Arbitrum producing hundreds of thousands of {dollars} in complete charges in current months.
