According to ChainCatcher, Solana on-chain mining project Ore announced on social media that it has established a developer studio Regolith Labs and completed a $3 million seed round of financing, led by Foundation Capital, with participation from Colosseum, Solana Ventures, B+J Studios, Dead King Society and 3KVC.

Regolith Labs aims to accelerate the development of the ORE ecosystem. Through Solana's new proof-of-work mining primitives and liquidity network, millions of new users will be introduced to the cryptocurrency field.