DeFi
RiskLayer Announces Funding Round Led by Antler for
NEW YORK, July 25, 2024 (GLOBE NEWSWIRE) — Risk layerDeFi Economic Security AVS on Eigenlayer, has secured its Builders round co-led by Antler and Momentum6 with participation from Wagmi Ventures, Hypotenuse Ventures and notable angel investors including Richard Ma (Founder, Zircuit), Ishaan 0x (Strategy, Eigenlayer), Agnish Ghosh (Core, EthNimbus), Alex (Senior Contributor, FranklinDAO) and Paul Taylor (ex-Blackrock) among others. RiskLayer offers two separate Active Validation Services (AVS) on Clean diaper as a solution to DeFi’s core economic security concerns. Chainrisk Labs, the developers behind RiskLayer, have secured over $10 billion in assets under management to date, serving protocols like Compound, Angle Labs, Gyroscope, Ebisu Finance, and entire ecosystems from Arbitrum to Fuel Network with their end-to-end economic risk management solution.
Accelerated by SymbioteA leading Web3 accelerator, RiskLayer strives to evolve the shared security of the Internet and commercialize risk as a metric for DeFi, institutions and users to deploy capital with risk-optimized capital efficiency by market and asset, unlocking the potential to drive the Total Value Locked (TVL) within the decentralized financial market to new heights in the years to come.
According to Nitin Sharma, Partner and Global Co-Head of Web3 at Antler, “We are very excited about the momentum Chainrisk Labs has quickly built to become one of the most promising Web3 projects in the world for economic security. Having followed their journey from day zero as part of the Antler Fellowship, Sudipan, Arka and the team have demonstrated real depth of research and thought leadership in protecting DeFi protocols and investors through a robust simulation-based approach. Projects like Chainrisk are essential to the vision of mainstreaming DeFi.”
“The team has been relentlessly focused on navigating the complex space and solving the multi-billion dollar problem of Web3, economic security, through their deep association with the Eigen ecosystem. Having been so closely associated with the team since the beginning, I can confidently say that their maturity, understanding and clarity of the space is second to none and I wish the team all the best in their future endeavors,” said Nilotpal Mukherjee, Founder of Symbiote and General Partner of Momentum6
The RiskLayer team is marketing risk as a metric, previously siloed between risk managers and protocols. This is similar to what Moody’s Analytics made in Web2. Risk layer offers two AVSs – Risk Oracle AVS, the DeFi risk data provider, and Risk Rollup AVS to address the specific needs of applications on EigenLayer. Risk Oracle AVS uses a “proof of risk” consensus to index a user’s risk by market and asset. This allows any investor to access this data and deploy their capital efficiently. Risk Rollup AVS economically secures application-specific rollups created on RiskLayer to create a new set of structured financial products. These product rollups now have the potential to be risk intelligent.
Sudipan Sinha, Senior Contributor at RiskLayer and CEO of Chainrisk Labs, “Economic security is solved at the network level by EigenLayer. Gauntlet, Chaos Labs, Chainrisk Labs, and other risk managers have solved the problem at the DeFi level. At RiskLayer, we abstract economic security from the protocol layer and scale it to the application layer. Institutions and DeFi users have always struggled to find risk-optimized strategies. RiskLayer is taking steps to make this onboarding experience trustless and hyper-efficient.”
According to Ishaan Hiranandani, Head of Strategy at EigenLayer:
“RiskLayer is building the risk infrastructure needed to bring institutions into crypto. By leveraging Eigenlayer, they are commercializing risk, which has always been a social commodity. I am very excited to see a risk-smart DeFi powered by the EigenLayer AVS stack.”
The company intends to use the funds to accelerate the development of AVS infrastructure and prepare for its next pre-staking launch.
About RiskLayer
RiskLayer is a cost-effective security middleware for DeFi built on Eigenlayer’s shared security primitives. RiskLayer not only streams risk data to markets, but also helps create a risk-intelligent DeFi. The promise is to create an ecosystem where investors and users can trust to deploy their capital in DeFi. RiskLayer is backed by Antler, Momentum6, and renowned angel investors like Richard Ma (Founder, Zircuit), Alex (Core Contributor, FranklinDAO), Ishaan 0x (Strategy, Eigenlayer), Agnish Ghosh (Core, EthNimbus), and Paul Taylor (ex-Blackrock). For more information, please visit: https://risklayer.xyz
About Chainrisk Labs
Chainrisk Labs, the visionary developers behind RiskLayer, have been instrumental in advancing economic risk management in the Web3 space. They actively manage over $10 billion in assets, serving the needs of leading protocols such as Compound, Angle Labs, Gyroscope, Ebisu Finance, and entire ecosystems ranging from Arbitrum to Fuel Network. Chainrisk Labs has built a comprehensive economic security platform that helps with economic audits and parameter recommendations for DeFi protocols. The company’s innovative solutions have set a new standard for economic security in decentralized finance (DeFi). For more information, please visit: https://www.chainrisk.cloud/
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