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Home»ADOPTION NEWS»Figment Capital leads Semantic Layer’s $3 million seed round.
ADOPTION NEWS

Figment Capital leads Semantic Layer’s $3 million seed round.

By Crypto FlexsOctober 9, 20242 Mins Read
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Figment Capital leads Semantic Layer’s  million seed round.
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Decentralized application (dApp) infrastructure developer Semantic Layer has raised $3 million in seed financing, making up the company’s total funding to date.

Figment Capital led the round, with additional support from Hack VC, Robot Ventures, Bankless Ventures, Fenbushi Capital, Anagram, and Perridon Ventures, according to a release shared with The Block.

Semantic Layer aims to power transaction execution infrastructure using tools. Verifiable Aggregation Rule (VAR) and Verifiable Sequencing Rules (VSR). These tools give dApps more control over ordering and bundling multi-blockchain transactions.

Operating within the Semantic Layer’s ASS (Application-Specific Sequencing) framework, VAR and VSR reduce maximum extractable value (MEV) leakage and allow dApps to catch malicious transactions via “circuit breakers”.

“The main objectives of this funding round are to develop the semantic layer core and increase market awareness of ASS, including through research sponsorship and developer discussion events,” Daniel Tong, co-founder of Semantic Layer, told The Block.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for publications covering all cryptocurrency-related news, preferring NFTs, metaverse, web3 games, fundraising, crime, hacking, and cryptocurrency ecosystem stories. MK holds a graduate degree from New York University’s Science, Health, and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. X You can follow MK at @MManoylov and on LinkedIn.

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