Layer N, an Ethereum layer-2 network supported by Founders Fund, the venture capital firm backed by Peter Thiel, has unveiled a new liquidity initiative for applications built on its StateNet architecture. After emerging from stealth mode in September 2023 with a $5 million funding round from Founders Fund, Layer N aims to bring sustainable and robust liquidity to the DeFi space. The liquidity program focuses on supporting protocols in their early stages as they enter the market.
Dima Romanov, CEO and co-founder of Layer N, expressed his enthusiasm for the launch, deeming it a significant moment for the company and the wider DeFi landscape. He stated in a press release, “By facilitating seamless access to liquidity and equipping developers with essential resources, we are paving the way for a new era of innovation and growth in the DeFi sector.”
Amber Group, a digital finance firm, will be the inaugural participant in the program, contributing a substantial $20 million to empower partners within the Layer N ecosystem. This collaboration emphasizes the program’s mission to provide developers with the necessary resources and funding to foster innovation and compete with traditional financial institutions.
Layer N’s liquidity program aims to enhance the DeFi sector by providing a platform for early-stage protocols to thrive and innovate. With the support of Amber Group’s substantial investment, Layer N hopes to empower developers and drive growth in the decentralized finance space.