TLDR:
- Monad raises $225M in a funding round led by Paradigm for their parallel EVM
- Berachain secures $100M in Series B funding with a new proof-of-liquidity consensus mechanism
Venture capitalists are showing interest in layer-1 blockchains compatible with Ethereum’s software, with Monad and Berachain receiving significant funding. Monad, aiming to deliver a more performant EVM, raised $225 million, making it the largest crypto venture round since Wormhole’s $225 million raise in November. Berachain, set to introduce a proof-of-liquidity consensus mechanism, closed a $100 million Series B funding round co-led by Brevan Howard Digital and Framework Ventures. Both brands have not launched their mainnets yet. Berachain’s PoL model separates governance tokens from transactional gas tokens to prevent centralization of stake, promoting fairer distribution of rewards. Additionally, Dragonfly partner Tom Schmidt shared insights on the crypto venture market, noting increased institutional interest and exciting use cases. Bitcoin mining hardware firm Auradine closed an $80 million Series B, while Alpen Labs secured a $10.6 million seed round led by Ribbit Capital. KIKI World also rolled out a “community commerce platform” with backing from a16z crypto and Estée Lauder’s venture arm.
