Conduit Raises $7M in Seed Round from Paradigm, Collaborates with Optimism to Scale Crypto Infrastructure
Conduit, a crypto native infrastructure platform, announced on March 28, 2023, that it has secured $7 million in seed funding in a round led by Paradigm. The platform is designed to accelerate builders in the crypto space by offering app-specific rollups that can be launched, maintained, and scaled by infrastructure professionals.
The rising costs of building on Ethereum L1 are limiting the broader adoption of crypto, and developers are turning to shared Layer 2s to mitigate these issues. However, congestion issues and high gas fees during periods of high usage still pose problems for these projects.
1/ Announcing Conduit, a crypto native infrastructure platform. Launch a rollup in just a few clicks (built on the OP Stack and powered by Optimism)
We’re live on mainnet. DM us to get set up today, it takes less than 5 minutes to get up and running. pic.twitter.com/n2gWtmCURO
— Conduit (@conduitxyz) March 28, 2023
Conduit aims to solve these issues by providing managed rollup deployment with batteries included on-demand. With Conduit, teams can scale their applications 100-fold, offering a better user experience and unlocking new use cases that were previously impossible due to network congestion.
The platform provides a complete deployment package, including a block explorer, autoscalable RPCs, metrics, and samsczun’s transaction tracer. Conduit deployments run the same tech as Optimism Mainnet and are secured by Ethereum.
Conduit’s collaboration with the Optimism Foundation will help power the Superchain vision and contribute to the community of builders that comprise the Optimism community. The platform makes it easier for builders to launch their own OP Stack rollups that will eventually become part of the Superchain.
Teams that launch rollups with Conduit will also be eligible to earn a share of the sequencer fees and MEV from their rollup, providing an instant path to monetization that is incentive-aligned with their users.
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