Lava Foundation: New Investments in Blockchain Network Development
Date: 2024-05-09 Author: Gabriel Deangelo Categories: BLOCKCHAIN
The Lava Foundation has raised $11 million in investments from Animoca Brands, Gate.io, CoinGecko Ventures, Crypto Times and private investors to further develop its blockchain network.
The Future with Agreements on Future Tokens (SAFT)
Lava Foundation spokesman Amir Aaronson confirmed that the project raised funds through agreements for future tokens (SAFT), but declined to comment on the startup's valuation.
Lava is a modular blockchain network with a focus on data accessibility through remote procedure calls (RPC). It has already served more than 20 billion RPC requests and rewards users with points as part of the Magma program.
Future plans
The launch of the Lava mainnet is scheduled for the first half of 2024, with the LAVA token entering the market around the same time. The total number of tokens issued will be 1 billion LAVA, part of which will be distributed to users in the form of Ethereum.
This investment in the Lava Foundation demonstrates the growing interest in developing blockchain projects and supporting innovative ideas in the field of cryptocurrencies and decentralized technologies.
