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Layer N Launches New Liquidity Program Backed by Founders Fund
Layer N, an Ethereum Layer 2 network supported by Peter Thiel’s Founders Fund, recently unveiled a new liquidity program geared towards applications operating on its StateNet architecture. Initially emerging from stealth mode in September 2023 with the announcement of a $5 million funding round endorsed by the Founders Fund, Layer N has now introduced a milestone initiative to inject sustainable liquidity into the DeFi space, particularly targeting protocols in their early stages to facilitate market entry.
Digital finance firm Amber Group stands as the inaugural participant in this groundbreaking program, committing a substantial $20 million to empower collaborators within the Layer N ecosystem. This partnership solidifies the program’s objective to furnish developers with indispensable resources and financial backing to foster innovation and compete with traditional financial establishments.
CEO and Co-Founder of Layer N, Dima Romanov, lauded the program’s launch as a pivotal moment for the company and the broader DeFi sector. In a press release, Romanov emphasized how by furnishing streamlined liquidity access and arming developers with essential tools, Layer N sets the stage for a revolutionary era of advancement and expansion within the DeFi domain.
Support and Endorsement from Amber Group
Steven Shi, Investment Partner at Amber Group, expressed his admiration for Layer N as the foremost architecture for DeFi applications, emphasizing how it seamlessly merges top-tier crypto infrastructure with high-performance capabilities without compromising Ethereum’s security or fragmenting liquidity. Shi highlighted Amber Group’s unwavering dedication to supporting Layer N in cultivating liquidity and enlarging the ecosystem.
The Founders Fund spearheaded by Peter Thiel has been notably active in 2024. The fund notably participated in a significant $280 million Series D round for Neuralink, an Elon Musk-backed startup focused on brain interfacing technology. This involvement underscored the fund’s commitment to cutting-edge technologies and innovative ventures.
Scott Nolan, a partner at Founders Fund, articulated his enthusiasm for Neuralink’s advancements in aiding patients through groundbreaking technologies. In a Twitter post, Nolan commended Neuralink for its seven years of dedication to achieving what seemed like science fiction, crediting the team’s technical breakthroughs and perseverance.
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