RISE, which began development in 2023, has raised $3.2 million in its seed round. The round was led by Finality Capital, with participation from Orange DAO, DACM, ether.fi Ventures, P2 Ventures, MH Ventures, and Public Works.
Completion of Seed Round
Last month, RISE completed a $3.2 million seed round of investments. The round saw participation from companies such as Finality Capital, Orange DAO, DACM, ether.fi Ventures, P2 Ventures, MH Ventures, and Public Works. Angel investors included Vitalik Buterin, Stani Kulechov, Anthony Sassano, and DCF God, along with several prominent web3 founders.
RISE Technological Innovations
RISE surpasses the limitations of Megagas performance, achieving over 1 billion gas per second. This breakthrough has significant implications for sectors such as DeFi, DePIN, gaming, and social networks, fostering new possibilities for web3 apps. Key efforts to unlock the RISE stack include execution and state access optimizations to maximize throughput and minimize latency. The project has developed and open-sourced the parallel EVM engine, pevm, which is the fastest public EVM executor in the market. The RISE Stack also features a Continuous Block Pipeline to ensure full CPU utilization without idle time by executing layer 2 transactions continuously while waiting for layer 1 consensus.
Future Plans and Internal Testnet
RISE prioritizes Ethereum alignment and decentralization. Its optimized database and state access methods enable full node operation with 32GB of RAM. The project also plans to implement a decentralized approach to layer 2 block sequencing next year. The RISE internal testnet is ready for developers to build high-performance applications.
RISE is actively developing and has attracted significant investment, enabling it to implement groundbreaking technological advancements to improve web3 application scalability.
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