- PayPal Ventures' Investment in Chaos Labs
- Launch of Edge Oracle Protocol by Chaos Labs
- PayPal Ventures' Investments in Mesh
PayPal Ventures recently announced additional investments in Chaos Labs and continues to support Mesh, highlighting their trust in the potential of these companies and their blockchain-based products.
PayPal Ventures' Investment in Chaos Labs
PayPal Ventures announced additional investments in Chaos Labs, a blockchain-based investment management company, on September 20, 2024. This investment reflects growing confidence in the potential of Chaos Labs and their blockchain products. In a recent press release, Omer Goldberg, CEO and Founder of Chaos Labs, expressed his gratitude for the support: "Edge, developed by the Chaos Labs team, is the result of hard work and expertise from our entire team. Edge Price, Risk, and Proofs provide contextual and unmatched data on prices and risks."
Launch of Edge Oracle Protocol by Chaos Labs
Recently, Chaos Labs launched Edge, a decentralized oracle protocol that has garnered significant attention in the blockchain industry. In its first two months, Edge managed to secure transactions worth $30 billion and gained support from major exchanges like Jupiter on the Solana network and GMX on Arbitrum. Edge offers fast and comprehensive oracle solutions, combining accurate price data with market intelligence. Edge's architecture ensures the security and efficiency of DeFi applications. Oracles provide external data to the blockchain network, enabling smart contracts to interact with external information. The quality and reliability of oracle data are crucial as errors in data can lead to undesirable decisions.
PayPal Ventures' Investments in Mesh
In addition to investments in Chaos Labs, PayPal actively supports other blockchain projects, such as Mesh, a digital payments platform. PayPal used its stablecoin, PYUSD, for investments in Mesh, marking the first instance of this token being utilized as a funding instrument. These investments came shortly after Mesh closed a Series A funding round of $22 million. Mesh has been rapidly evolving since its founding in 2020, providing reliable solutions for account aggregation and digital asset transfer.
PayPal Ventures' investments in Chaos Labs and Mesh underscore their commitment to supporting innovation in blockchain and digital payments. These actions contribute to creating a secure and efficient crypto ecosystem and demonstrate the significance of cryptocurrencies in the modern financial world.
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