LYNC Raises $1.5 Million in Pre-Seed Funding to onboard 7B+ mobile users on-chain with Movement rollup
Lewes, Delaware, August 7th, 2024, Chainwire
LYNC, the first mobile-centric roll-up on Movement Labs, today announced it has raised $1.5 million in pre-seed funding from a distinguished group of industry leaders. This funding enables LYNC to onboard 7B+ smartphone users on-chain and empower solopreneurs, developers, and founders with highly scalable roll-up, powered by Movement Labs, and end-to-end mobile stack to build crypto native mobile applications and games.
LYNC’s pre-seed round saw participation from Movement Labs, Levitate Labs, Smape Capital, Amesten Capital, Aptos, 8186 Capital, LonghashX and angel investors including Gabby Dizon from YGG, Rushi Manche & Cooper Scanlon from Movement Labs, LAI Ho Tin from J17 Capital, Bruno Faviero from Magna, Arjun Kalsy from Fuel, Niels Jense de Ruiter, Parth Chaturvedi from Coinswitch Ventures, Prashant Maurya from Spheron and more.
LYNC Rollup powered by the Move stack enabled high throughput, and ultra-low transaction costs, enabling developers and builders to create hyper-scale mobile applications. Accompanied by end-to-end mobile infra, developers can build Android, iOS, and Telegram mini apps with zero external dependencies saving both time and cost of development by 90%.
“In the industry’s decade-long history, we’ve seen new financial, gaming, and creator-led primitives. However, the lack of mobile first applications have so far kept the majority of global users outside the influence of crypto which has also led to issues like minimal user adoption, and tepid growth for the vast majority of crypto applications,” said Vish Co-Founder & CEO of LYNC. “One big issue devs face today is quality tools and seamless solutions to go from idea-to-market in a seamless way’’ The broken developer experience is significantly limiting both high quality projects, and growth of net-new developers in Web3.
LYNC has been active in the move ecosystem and has empowered 400+ projects, and cumulatively generated over 5M transactions in the last quarter. Our key customers and marquee partners include socialFi, gaming, Telegram Apps & bots, and DeFi. Notable projects showcasing LYNC’s versatility include Ambrus Studio, Community Gaming, BharatBox (Sandbox India), GrowFitter, OnePlay, Monster Labs, MetaDoge, Supra Oracles, Lighthouse, Spheron, Playside, Convivial, OP Games, Hero Battles Arena, Kult Games, Yuzu Swap and more.
LYNC’s mobile-first roll-up unlock the following benefits for developers and users:
- High Throughput Execution: Powered by the Move stack, we enable massive throughput unlocking mass-scale consumer use cases.
- Shared Sequencing: Allows consumer and DeFi apps to inherit liquidity from Movement. This enables users access to a trustless environment unlocking security, and capital efficiency
- End-to-End Mobile Stack: Off-the-rack APIs and SDKs to build mobile apps and games on any OS of your choice.
- Net new developers and users: Lync’s mobile-centric developer kit will enable onboarding mobile developers, and first-time crypto users in a frictionless, and safe environment.
“Lync’s vision for accelerating Web3 adoption through mobile consumer-centric solutions is extremely impressive. Their innovative use of the MOVE stack, combined with their focus on developer experience and mobile-first applications, positions them uniquely in the market. We’re excited to support Lync as they work to make blockchain technology more accessible and user-friendly for both developers and end-users.” said Rushi Manche, Co-Founder of Movement Labs.
Users can learn more about Lync by visiting Lync. Users can follow Lync on X, join Lync’s community on Telegram, and connect with Lync on Discord.
About Lync L2
LYNC is pioneering the last mile adoption by striving to onboard the vast majority of smartphone users in the world to Web3. Our MOVE-powered rollup, and a native Mobile toolkit enables developers to build consumer-grade apps, and games thus unlocking the next wave of crypto adoption in the world.
About Movement Labs
Movement Labs is the innovative force behind the Movement Network, an ecosystem of Modular Move-Based Blockchains that enables developers to build secure, performant, and interoperable blockchain applications, bridging the gap between Move and EVM ecosystems. The organization is developing the first Move Virtual Machine L2 for Ethereum, alongside open-source tooling and protocols to facilitate the adoption of the Move programming language across blockchain ecosystems. With Movement, developers can launch high-performance Move VM rollups with ease. Users can learn more about Movement’s Battle of Olympus developer Hackathon and follow the team’s exciting news on X and Discord.
