Radius, a blockchain technology company, has raised $1.7 million in pre-seed investment. The round was led by Hashed, with participation from Superscrypt, Lambdaclass (Ergodic Fund), and Crypto.com.
The funds will be used to develop a trustless shared sequencing layer. This layer will ensure users are protected from harmful Miner Extractable Value (MEV) while maximizing revenue for Rollups. It is powered by Practical Verifiable Delay Encryption (PVDE), an innovative zk scheme.
AJ Ji Hoon Park, CEO of Radius, commented: “Radius is committed to setting the standard for a trustless shared sequencing layer that not only maximizes revenue for Rollups but also safeguards users from the harmful effects of MEV. This funding will propel us forward in achieving our goals and redefining the boundaries of what is possible in the blockchain sphere.”
Radius recently announced a partnership with Saga, the Rollup-as-a-Service platform, and have joined the Celestia Ecosystem. The collaboration is designed to drive further advancements in the roll-up technology and enhance the security of the blockchain ecosystem.
The company is also developing an MEV-Resistant Decentralized Exchange, known as 360. It is powered by Radius’ shared sequencing layer and is designed to significantly improve the user experience and security in the DeFi space. Radius plans to launch an alpha version of its sequencing layer in Q1 of 2024.
