ThirdFi Secures Major Investment for Web3 Infrastructure
ThirdFi, a startup focusing on distributed web3 infrastructure, has successfully raised $2 million in token funding with support from prominent entities like Chainlink and Techstars.
The primary objective of ThirdFi is to enhance accessibility to decentralized finance through API integration. This recent funding round in THI tokens is earmarked to bolster operational capabilities as the company gears up for the burgeoning blockchain artificial intelligence (AI) sector, projected to reach $2.7 billion by 2031.
Investors Backing ThirdFi
A recent announcement by the Singapore-based firm highlighted the diverse group of investors participating in the funding round. Notable backers include Techstars, Chainlink, Outlier Ventures, and Alphabit Capital among others. The injection of capital has propelled ThirdFi's fully diluted value to an impressive $20 million, a substantial leap achieved over the past two years despite challenging market conditions.
ThirdFi's Achievements and Growth
Established in 2022, ThirdFi has amassed a substantial user base exceeding 170,000 individuals. The startup has facilitated over $46 million in transactions across mainnet and layer-2 protocols, collaborating with more than 50 web3 communities and networks.
Expansion and Innovation
ThirdFi's expansion strategy encompasses the launch of API products across various blockchain networks such as Ethereum, Polygon, BNB Chain (formerly Binance Smart Chain), Avalanche, Arbitrum, and Optimism. The company plans to further integrate Solana, zkSync, and Base into its offerings in the near future.
Partnership with Chainlink
For Chainlink, this investment signifies a continued partnership with ThirdFi, extending from their collaboration in the Chainlink BUILD program. This initiative is designed to strengthen the Chainlink network by providing participants with priority technical support and access to new services. It also aims to enhance cryptoeconomic security through incentivized fees for Chainlink service providers.
Future Plans
While the timeline for ThirdFi's token launch remains undisclosed, the rollout is anticipated around the third quarter pending audits to ensure compliance and security.
This milestone for ThirdFi reflects a significant step towards advancing decentralized finance and web3 infrastructure, poised to make a profound impact on the evolving digital landscape.
