Helix Labs secures $2M in a Pre-Seed round at a $40M valuation, led by Tribe Capital and other notable investors.
Funds will focus on unlocking Cardano’s liquidity and expanding use cases for L1 assets.
Helix Labs joins Movement Labs’ Move Collective accelerator to integrate Cardano into DeFi.
Their tech stack aims to enable liquid staking and future MoveVM rollups, enhancing income for non-Ethereum L1 holders.
Helix Labs Raises $2M Pre-Seed to Unlock $12B in Cardano Liquidity
On September 23, 2024, Helix Labs announced the successful completion of its Pre-Seed round, raising $2 million at a valuation of $40 million. The round was led by Tribe Capital, EMURGO Ventures, Taureon Capital, LD Capital, and Double Peak Group, with funds earmarked for enhancing the utility of Layer 1 (L1) assets, particularly Cardano (ADA), and expanding the liquidity of the DeFi ecosystem. This marks a significant move toward integrating non-Ethereum L1 assets into decentralized finance, with Helix Labs positioning itself as a key player in this evolution.
Unlocking Cardano’s Liquidity for DeFi
A major focus of Helix Labs’ mission is to unlock the vast untapped liquidity of Cardano, which currently holds around $12 billion in assets. The company aims to bring Cardano’s ADA token into the broader DeFi ecosystem, where it can generate additional revenue streams for holders. Through its innovative protocol technology, Helix Labs will enable ADA holders to stake their tokens while obtaining liquid staked ADA, allowing these assets to be used in other DeFi protocols.
Liquid staking enables users to earn staking rewards while maintaining liquidity, offering greater flexibility and earning potential. This process will be enhanced by bridging liquid ADA to Movement Labs’ platform, where it can be utilized across various DeFi applications.
source
