Shima Capital Supports Orb Labs For Interconnectivity Between Blockchains

Shima Capital's investment in Orb Labs' exciting new cross-chain protocol is going to revolutionize the speed and security of cross-chain protocols.

(firmenpresse) - Shima Capital is always at the forefront of innovation in the crypto space. It has recently announced its investment in Orb Labs - an exciting blockchain interoperability and application developer based in New York City. Shima Capital's move affirms its commitment to supporting disruptive cryptocurrency startups and cutting-edge blockchain technologies. Thanks to the firm's investment, Orb Labs has completed a seed round raise of $4.5 million to develop its Web3 infrastructure and cross-chain token and messaging protocols. If you're crazy about crypto, follow Shima Capital's latest venture with Orb Labs for a glimpse into a bright new DeFi future. More details at https://shima.capital/investments Innovation lies at the heart of the Orb Labs project and Shima Capital is proud to support the company's interactive multi-chain initiatives. Led by Bain Capital Crypto, the seed round also drew investment from SevenX Ventures, Avels Lair, Newman Capital, 6th Man Ventures, and Modular Capital. Orb Labs was founded in 2022 by Richard Adjei and Felix Madutsa - two Princeton University classmates. The pair's expertise in software engineering coupled with a longstanding interest in cryptocurrency has culminated in the company's new interoperability protocols which offer an alternative to existing products that have proved expensive, slow, and fail to provide adequate security for users. Shima Capital's investment will support the ongoing development of Orb Labs' Earlybird - a cross-chain messaging protocol. This protocol offers you industry-leading versatility and allows you to choose security models based on speed, cost, and use-case suitability. Gao adds, “Multi-chain infrastructure and interoperability are essential for the widespread adoption of Web3. To address this demand, we need flagship protocols that will attract users and foster a thriving community.” In addition to Earlybird, Orb Labs is also developing MagicLane - a secure omni-chain token and messaging platform which provides a shared security model for developers. MagicLane will offer you cross-chain operability on a single contract and allows you to build exchanges that are cheaper to use. An article by Business Insider points out that this same cost efficiency can be applied to lending and yield-farming protocols. About Shima Capital The company was founded in 2021 by veteran investor Yida Gao to provide early-stage investment to nascent but promising Web3 development projects. Gao and his team assist in the acquisition of engineering talent, support community building, and help to accelerate the development of technical research. Learn more at https://medium.com/(at)ShimaCapital Via its investment in Orb Labs, Shima Capital is enabling developers to build innovative products that have not been possible before. For more info, go to https://shima.capital The future of Web3 development on the blockchain is here and Shima Capital is proud to be investing in the most promising and innovative projects.

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Datum: 09.03.2023 - 15:07 Uhr
Sprache: Deutsch
News-ID 678909
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Typ of Press Release: Unternehmensinformation
type of sending: Veröffentlichung
Date of sending: 09/03/2023

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