Side Protocol Secures $1.5 Million for Cross-Blockchain Network

Side Labs, the innovative startup behind the Side Protocol, has successfully secured $1.5 million in pre-seed funding. This funding, acquired through a simple agreement for future tokens sale, will be instrumental in the development of the cross-blockchain liquidity network, Side Protocol.

Side Protocol Secures $1.5 Million for Cross-Blockchain Network

The Mesh Liquidity Network, a project Side Labs is keen to develop, aims to revolutionize the way cross-blockchain asset exchanges are conducted. By eliminating the need for intermediary tokens and bridges, the network will streamline the process, making it more efficient and user-friendly.

Mesh Liquidity Network: The Future of Cross-Blockchain Asset Exchange

Mesh liquidity, a concept that Side Labs is pioneering, represents a significant step forward in the evolution of inter-chain asset exchange. With plans to launch a private testnet within the next month, and a V2 mainnet within the year, Side Labs is poised to make a significant impact in the world of blockchain technology.

Mesh Liquidity: A Natural Progression in Inter Chain Asset Exchange

Aside from developing a public testnet to investigate aspects such as user incentives, mesh liquidity, staking, governance, and more, the company plans to introduce the initial version of its mainnet within the next six months.

This will be followed by a second version of their testnet, which will feature the incorporation of zero-knowledge technology. Ultimately, Side Labs has set a goal to release its second mainnet version within the coming year. This V2 mainnet, equipped with ZK technology, will aim to provide mesh liquidity to Layer 1 and Layer 2 protocols.

about side protocol

Side Protocol is a state-of-the-art, cost-effective, developer-friendly blockchain built on the Cosmos SDK and designed to be an open ecosystem that brings the next billion users to web3. It leverages the best of Ethereum with the interoperability of Cosmos, allowing developers to deploy their Solidity-based smart contracts in an EVM equivalent environment.

This ensures effortless compatibility with existing code, tools, and infrastructure. Side Protocol is also characterized by its unrivaled transaction handling and scaling capabilities, making it an ideal solution for the evolving Web3 landscape. Additionally, it introduces innovative features like the Interchain Atomic Swap (IAS) protocol for omnichain asset trading and a result-driven adopt-to-earn mechanism for ecosystem developers.