Crypto VC Paradigm is leading a $225 million funding round into a new layer-1 as VC interest in crypto investments continues to rise.
Crypto-focused venture capital (VC) firm Paradigm is leading a $225 million funding round into a new layer-1 blockchain network which is set to compete for market share with Solana and other top networks.
The funding round was completed by blockchain firm Monad Labs, which aims to build a new layer-1 smart contract network with faster speed and lower costs compared to Ethereum.
The funding round was announced after two years of development, according to Keone Hon, the founder of Monad Labs, who told Fortune in an interview:
