Crypto Infrastructure Platform Conduit Announces $7M Seed Funding Round Led by Paradigm

by BSC News

March 31, 2023


As per the protocol, Conduit's first offering will renable teams to scale their applications 100-fold by allowing them to spin up a production-grade rollup on the OP Stack in a fraction of the time.

Conduit to Support Production Grade Roll-Ups

Crypto infrastructure platform Conduit has come out of stealth, announcing a $7M in seed funding round led by Paradigm. Other individual investors included Robert Miller, Ludwig Pettersson, Dan Romero, Guillaume Poncin, Joshua Ma, and Lakshman Sankar.

According to Conduit, the new capital will assist the protocol in launching its first product and achieving profitability. The protocol claims its first offering enables teams to build production-grade rollups on the OP Stack in a fraction of the time. 

“DeFi protocols, gaming companies, NFT platforms, and other on-chain providers can use Conduit to quickly and easily scale their applications, offering a better user experience and unlocking new use cases previously made impossible by network congestion,” the Conduit team said.

Additionally, Conduit announced its collaboration with the Optimism Foundation to help support Optimism’s Superchain vision and contribute to the Optimism community of builders. As per the protocol, Conduit enables builders to launch their own OP Stack rollups that will be included in the Superchain.

The Conduit platform provides a managed service for rollups, including automatic updates to the OP Stack and upgrades to the Superchain. Additionally, the Conduit team will manage roadmap feedback and offer custom support SLAs to ensure users' success with rollup deployment.

Further, the Conduit platform will offer other project team members the opportunity to earn a share of the sequencer fees and Maximal extractable value (MEV) from their roll-up. Team members can monetize instantly with an incentive-aligned path to monetization. Additionally, a portion of fee revenue will be devoted to the Optimism Collective, ensuring sustainability for the OP Stack and other public goods.

To celebrate Conduit's launch, the protocol also released a Commerative NFT on the Optimism Mainnet.

What is Conduit:

Conduit is a crypto-native infrastructure platform designed to empower and accelerate cryptocurrency developers. Its first offering enables teams to scale their applications 100-fold in a fraction of the time by allowing them to spin up a production-grade rollup built on the OP Stack in a fraction of the time. 

Learn more about Conduit:

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