NodeKit completed a $1.2 million pre-seed round of financing to develop the Avalanche-based Rollup network SEQ

2023-12-13 23:13:56

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ChainCatcher news, according to The Block, the NodeKit team focused on the Avalanche network has completed a $1.2 million pre-seed funding round, led by Borderless Capital, with participation from the Avalanche Blizzard Fund, Polygon Ventures, and the Wormhole Cross-Chain Ecosystem Fund.

NodeKit is currently developing SEQ------a shared sequencer Layer 1 network aimed at helping Rollup chains launch and decentralize their transaction sequencing. SEQ will operate as an independent blockchain or subnet within the Avalanche ecosystem.

It is reported that most existing rollup chains in the Ethereum ecosystem will be compatible with SEQ on the software side, including smart contract rollups (such as ZK and optimistic) and frameworks like OP Stack. Additionally, rollups integrated with SEQ will gain cross-chain interoperability. The design of SEQ will also support various data availability layers such as Celestia.

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