Incentivized RPC coming to Union
News & Updates
Ethan
Apr 8, 2024
Ahead of Mainnet, Lava Network raises $15M in seed funding to build modular infrastructure for scaling blockchain data access.
Lava has also launched MAGMA - an initiative where wallet-users can earn points for connecting to blockchains through Lava.
Tribe, Jump and Hashkey led Lava’s seed round. Lava aims for Mainnet in H1 2024.
Lava Network has raised $15m in a seed round led by Jump Capital, Hashkey Capital and Tribe Capital.
Other investors include Alliance, Node, North Island, Quiet, Finality, Dispersion Capital, Interop Ventures and the early seed investors of the top infrastructure providers Alchemy, Blockdaemon, ConsenSys (Infura) and QuickNode. Also, validators, ecosystems and founders of Cosmos, Polkadot, Filecoin, StarkWare, Axelar, NEAR, Celestia, Celo, and more joined the round.
Lava is building a modular network making it easy for developers and users to access blockchain through RPC & indexing. RPC is a way for apps to communicate with blockchains and is critical for web3. All crypto applications must make RPC requests to send and retrieve blockchain data; indexing and subgraphs offer more specialized data requests.
Today’s infrastructure provider landscape is highly fragmented and complex, meaning developers often must make trade-offs about what and where they build.
Lava is a permissionless three-sided marketplace for blockchain data. Consumers get data from Lava; RPC Node Providers join Lava, serve data and receive rewards; and Champions add more modules for Providers to serve, extending Lava to in-demand chains and APIs.
In the future, Lava aims to bring its modular approach to oracles, sequencing and other data infrastructure, serving as a permissionless everything store for any web3 service.
Lava has worked directly with ecosystems through its Incentivized Public RPC program, and node providers joining Lava have received hundreds of thousands of token incentives from chains, including NEAR, EVMOS and AXL.
This initiative, launched in October 2023, has already signed partnerships with NEAR, Evmos, Axelar, Starknet, Koii, Agoric and more.
Ahead of Mainnet in H1 2024, Lava is introducing an incentivized points program called Magma. With Lava, developers and users can contribute to any blockchain without the hassle of running their own nodes.
"At Lava, our vision is to unlock innovation across web3 by giving developers total flexibility to build with the most performant and scalable infrastructure,” says Yair Cleper, Founder and Core Contributor of Lava.
“For a long time, infrastructure providers decide which chains to serve - they control the keys to all the doors. Developers use Lava to build whatever, wherever."
Users can earn points for switching their wallet blockchain connection to Lava. Learn more here.
Lava is the modular data access network for scaling access to any blockchain.
Anyone can add in-demand chains and APIs as modules to Lava, with each module being served by a network of node operators competing to offer the best service. RPC is the first service supported by the protocol and already helps developers unlock innovation across 30+ chains.
By leveraging modular architecture and a peer-to-peer network of node operators, Lava powers the universal and performant infrastructure layer for developers to build whatever, wherever.
