NodeKit, a company operating on the Avalanche-based SEQ network, has raised $1.2 million during the accelerated investment processes in the cryptocurrency market. This investment round was led by Borderless Capital and included participation from the Avalanche Blizzard Fund, Polygon Ventures, and the Wormhole Cross-Chain Ecosystem Fund.
NodeKit continues to develop the shared sequencer Layer-1 network SEQ ecosystem, which will assist in initiating transaction sequencing and supporting decentralization. SEQ is planning to operate as an independent blockchain network or a subnetwork within the Avalanche ecosystem.
Current rollup chains in the Ethereum ecosystem, including smart contract rollups (ZK and optimistic) and frameworks like OP Stack, will be software compatible with SEQ. Rollups integrated with SEQ will gain cross-chain compatibility with each other.
The design of the SEQ ecosystem will also support various data accessibility layers, such as Celestia. The SEQ test network is set to launch in 2024, followed by the planned public release of the main network.
NodeKit signifies Avalanche ecosystem’s entry into Ethereum Layer-2 operations. Layer-2 projects collect commission fees as users transact, and leading Layer-2 projects such as Optimism and Arbitrum have recently attracted attention with their multimillion-dollar earnings.