The Pell Network has raised 3 million dollars for the development of an innovative network – what does this mean for the blockchain world?

Pell Network Secures $3 Million for Innovative Network Development

Pell Network, a decentralized validation service network Omnichain Decentralized Validation Services (DVS), has just announced a successful $3 million pre-seed funding round. The investment was led by renowned funds such as Paper Ventures, Halo Capital, and Mirana Ventures, with participation from other key entities including D11-Labs and Delta Blockchain Fund.

Pell Network Development Plan

The funds raised in this financing round will be allocated towards further developing the innovative Pell Network, which aims to build an omnichain DVS based on restaking. The platform’s architecture consists of three main components: Restaking Layer, Pell Chain, and Service Layer, providing a strong foundation for innovative decentralized validation solutions.

Platform Popularity and Achievements

Pell Network has gained significant popularity, with deployments on 20 chains, including BNB Smart Chain, Core, Babylon, Mantle, and Ethereum. Additionally, it has amassed over $300 million in Total Value Locked (TVL) and attracted over 430,000 stakers to its network. This solidifies Pell Network’s position as a key player in building cross-chain applications and providing economic incentives for DVS network developers.

Community Campaigns and Network Development Plans

Pell Network actively engages the community through various campaigns such as Testnet launch, Airdrop Campaign, and GoldMiner Campaign. Further initiatives targeting early project participants will be generously rewarded to increase user engagement and interest. Details regarding network development plans and upcoming campaigns will be revealed soon. Pell Network consistently strives to deliver innovative technical solutions for the restaking sector and bridge barriers between isolated blockchains.