Pell Network secures $3M funding to develop omnichain DVS network, gaining traction in industry.

From Investing.com

October 18, 2024 09:30:40 AM:

Pell Network secures $3 million in pre-seed funding led by Paper Ventures, Halo Capital, and Mirana Ventures, among others. The funds will be used to develop an omnichain DVS network powered by restaking, aiming to break down barriers between blockchains and ensure ecosystem sustainability.

Pell Network’s architecture includes Restaking Layer, Pell Chain, and Service Layer, optimizing resource allocation and maximizing returns. The platform has gained significant traction with deployments on 20 chains, amassing over $300 million in TVL and 430,000 stakers in its Omnichain Restaking Network.

Pell Network positions itself as a key player in cross-chain application building, providing developers with DVS networks supported by economic incentives. Community engagement campaigns like Testnet launch, Airdrop Campaign, and GoldMiner Campaign offer rewards like 1 BTCB + 11 BNB raffle and 30% yield, with more to follow in the future.

Pell Network aims to revolutionize the restaking sector with an omnichain DVS network driven by LST, creating a decentralized validation services marketplace. The network seeks to bridge blockchain silos, enhance ecosystem sustainability, and provide technical solutions for the crypto economy. Follow Pell’s development on their website, X, Discord, and Telegram channels.

Read more at Investing.com: Pell Network Secures $3M Funding to Build Omnichain DVS Network By Chainwire