RiskLayer, built on the robust EigenLayer protocol and inheriting Ethereum’s security, has successfully raised a pre-seed round at an undisclosed amount. This milestone marks a significant step in the project’s journey to revolutionize economic security within the decentralized finance (DeFi) landscape.

Builders Round Success

RiskLayer’s ‘Builders round’ was co-led by prominent venture capital firms Antler and Momentum6. The funding round also attracted investments from Wagmi Ventures, Hypotenuse Ventures, and notable angel investors, including Zircuit founder Richard Ma. This diverse group of backers underscores the confidence and interest in RiskLayer’s potential to reshape economic security in the crypto world.

Chainrisk Labs’ Track Record

RiskLayer is developed by Chainrisk Labs, a team that has already demonstrated impressive capabilities in managing economic risk. With over $10 billion in Assets Under Management (AUM), Chainrisk Labs has provided comprehensive economic risk management solutions to protocols like Compound and Angle Labs, and ecosystems such as Arbitrum and Fuel Network. This extensive experience sets a solid foundation for RiskLayer’s ambitious goals.

Nitin Sharma, global co-lead for Web3 at Antler, expressed enthusiasm about the progress Chainrisk Labs has made, stating, “We are very excited about the momentum Chainrisk Labs has built quickly, emerging as one of the most promising Web3 projects globally in economic security.”

Innovative Economic Security Solutions

RiskLayer introduces two distinct Actively Validated Services (AVS) on EigenLayer, Ethereum’s latest restaking protocol. These AVS address crucial economic security concerns within DeFi, offering innovative solutions to complex problems.

Risk Oracle AVS: This service functions as a data provider for DeFi risk, utilizing a proof-of-risk consensus mechanism. By aggregating and analyzing risk-related data, Risk Oracle AVS aims to enhance the security and reliability of DeFi protocols.

Risk Rollup AVS: This service economically secures app-specific rollups created on RiskLayer, facilitating the development of structured financial products. These rollups, backed by Risk Rollup AVS, have the potential to be highly risk-intelligent, providing a secure foundation for various financial applications.

Bridging Institutions and Crypto

One of RiskLayer’s primary objectives is to build the necessary risk infrastructure to onboard traditional financial institutions into the crypto space. According to Ishaan Hiranandani, EigenLayer strategy lead, this goal is central to RiskLayer’s mission. By providing robust economic security solutions, RiskLayer aims to create a safer and more attractive environment for institutional participation in crypto.

Industry Support and Vision

Nilotpal Mukherjee, founder of Symbiote and General Partner at Momentum6, emphasized the team’s dedication to solving economic security issues in Web3. “Being associated with the team so closely since the start, I can confidently claim that their maturity, understanding, and clarity of the space are unparalleled. I wish the team all the luck for their future milestones,” Mukherjee stated.

This endorsement reflects the confidence that key industry players have in RiskLayer’s vision and capability to address significant economic security challenges.

The Future of Economic Security in Web3

RiskLayer’s innovative approach to economic security, coupled with the backing of major investors and the expertise of Chainrisk Labs, positions it as a transformative player in the Web3 ecosystem. As the project continues to develop and deploy its solutions, it is poised to make significant contributions to the safety and stability of DeFi and broader crypto markets.

By leveraging the security of Ethereum through EigenLayer and introducing pioneering services like Risk Oracle AVS and Risk Rollup AVS, RiskLayer is setting new standards for economic risk management. This not only enhances the security of existing DeFi protocols but also paves the way for greater institutional adoption of crypto assets.

In conclusion, RiskLayer’s successful funding round and innovative solutions mark a pivotal moment in the evolution of economic security within the Web3 space. As the project progresses, it will be exciting to see how RiskLayer’s contributions shape the future of decentralized finance and crypto adoption on a global scale.