PC: Edge Middle East
Blockchain company Helix Labs aims to unlock liquidity for Cardano, introducing innovative solutions for Layer 1 and Layer 3 DeFi ecosystems.
Blockchain protocol firm Helix Labs has raised $2 million in pre-seed funding that has brought the valuation of this company to a remarkable $40 million. The funding round included participation from some of the largest names in the space, including Tribe Capital, EMURGO Ventures, Taureon Capital, LD Capital, Double Peak Group, among others. This fresh capital allows Helix Labs to upgrade decentralised finance opportunities on non-ETH Layer 1 (L1) blockchains, while giving special emphasis to one of the leading blockchain platforms, namely Cardano (ADA).
Cardano Liquidity and DeFi Potential
Helix Labs unlocks the $12 billion tied liquidity bound to the ADA token. The ADA holder would now be able to stake his token and fetch liquid staked ADA. This, therefore, brings in a road wherein liquid staked tokens can be bridged into Movement, L3 Ecosystem thus opening up fresh doors for ADA in the DeFi terrain. The long-term vision is a more effective, accessible landscape of DeFi where people can borrow or lend in liquidity pools, leverage AMMs, and DEXs with ADA.
CEO’s Visionary Perspective on Blockchain Liquidity
Sneh Bhatt, CEO at Helix Labs, described their technology as holding potential to solve some of the most haunting problems with blockchain liquidity. They are pretty excited to have such significant investors join them on this journey for transforming the restocking and liquidity space within the blockchain, as Bhatt stated. This funding will advance their efforts to expand the use cases of canonical L1 assets while solving the ‘cold start’ issue for L3s by providing liquidity and users while unleashing Cardano’s vast liquidity into the broader DeFi ecosystem.
The justification for Bhatt’s enthusiasm regarding his company’s vision is indeed supported by his experience in systems and nuclear engineering, as well as his work with Monarch and Trust wallets.
Products Core Products and Innovation
Helix Labs is working on three core products that promise to revolutionise the way liquidity flows within and between blockchains.
1. Helix Vault: This product solves one of the biggest problems in space because it brings together the liquid stacking and restacking protocols operating across various Layer 1 blockchains with a specific focus on Cardano. It tries to make yield opportunities much more accessible for non-ETH assets.
2. UniRollup L2: A Move Stack Rollup with LSTs from L1 blockchains to interact with various DeFi protocols. This system will bridge the gap between L1 blockchains and Layer 2 (L2) solutions by making transitions smoother while managing liquidity much better.
3. OmniVM AVS: Fresh new launchpad for L3 ecosystems which aims to abstract the liquidity of emerging Layer 3 ecosystems. The abstraction of the liquidity is expected to bust up bottlenecks and to effectively distribute liquidity.
These innovations can be regarded to offer Layer 3 ecosystems big advantages over other Layer 3 ecosystem-based new platforms. It offers user flow, plus liquidity at launch to this effect, addressing one of the “cold start” challenges new platforms often face.
Move Collective Accelerator Partnerships
This can be seen as a strategic consolidation for Helix Labs as it joins the accelerator arm of Movement Labs, under the umbrella of the Move Collective. The company would gain access to critical resources and guidance as it continued towards growth and innovation in the blockchain space. According to Rushi Manche, Co-Founder of Movement Labs, Helix Labs’ approach on restaking and liquidity perfectly aligns with one of the main goals of pushing forward with innovative blockchain projects. With Helix Labs bringing Cardano’s ADA into Movement, they unlock unprecedented DeFi utility.
Helix Labs scores big in its pre-seed funding round, a key moment in the Cardano DeFi ecosystem. These innovative products will unlock liquidity and help transform staking protocols to shape blockchain liquidity beyond Cardano, within this broader non-ETH Layer 1 ecosystem. Helix Labs, backed by top-tier investors and strategic partnerships, keeps pushing the envelope to ensure that it stays at the forefront of innovation in DeFi.
