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RiskLayer Secures ‘Builders Round’ Co-Led by Antler to Foster DeFi Security
Sujha Sundararajan
Last updated:
July 24, 2024, 10:07 EDT | 1 min read
The protocol has secured its ‘Builders round’ co-led by Antler and VC Momentum6, per a press release shared with Cryptonews.
The funding also involves investors such as Wagmi Ventures, Hypotenuse ventures, and notable angels including Zircuit founder Richard Ma.
Developers of RiskLayer – Chainrisk Labs – has so far secured more than $10 billion in AUM. It has served protocols including Compound, Angle Labs, and entire ecos from Arbitrum to Fuel Network with end-to-end Economic Risk Management solution.
“We are very excited about the momentum Chainrisk Labs has built quickly, to emerge as one of the most promising Web3 projects globally, when it comes to economic security,” said Nitin Sharma, global co-lead for Web3 at Antler.
Further, RiskLayer proposes two separate Actively Validates Services (AVSs) on EigenLayer, latest Ethereum restaking protocol. The AVS acts as a solution to key DeFi economic security concerns, the release added.
Nilotpal Mukherjee, founder of Symbiote & General Partner Momentum6, noted that the RiskLayer team has been “razor-focused” on solving the multi-billion dollar problem in Web3, economic security, with its deep association with the Eigen eco.
“Being associated with the team so closely since the start, I can confidently claim that their maturity, understanding and clarity of the space is unparalleled and wish the team all the luck for their future milestones.”
RiskLayer Builds Risk Infrastructure to Onboard Institutions Into Crypto
Per Ishaan Hiranandani, EigenLayer strategy lead, the company is aiming to on-board institutions into crypto by building necessary risk infrastructure.
The two RiskLayer-proposed AVS are Risk Oracle AVS, the data provider of DeFi risk, and the Risk Rollup AVS.
The former utilizes proof-of-risk consensus, while, the later economically secures app-specific rollups created on RiskLayer to build structured financial products. These product rollups have the potential to be risk intelligent, the company wrote.
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