Helix Labs Completes $2 Million Pre-Seed Round of Financing, Led by Tribe Capital and Others

BlockBeats news, on September 23, according to official news, Helix Labs announced the successful completion of the Pre-Seed round of financing, raising $2 million at a valuation of $40 million, led by Tribe Capital, EMURGO Ventures, Taureon Capital, LD Capital, and Double Peak Group. The funds aim to increase the use cases of standardized L1 assets, solve its "cold start" problem by providing liquidity and users for L3, unlock Cardano's liquidity, and bring it into the broader DeFi ecosystem.

Helix Labs has joined the Move Collective accelerator program of Movement Labs. The protocol technology will allow Cardano's ADA token holders to stake while obtaining liquid staked ADA, which will then be bridged to Movement, thereby releasing approximately $12 billion in liquidity for Cardano. It is reported that Helix Labs aims to enhance the income opportunities of non-Ethereum L1 asset holders and support future MoveVM rollups through liquidity abstraction and OmniVM technology stack.