LayerBank has successfully raised $2.3 million in its Pre-Seed funding round, attracting investment from prominent builders and strategic partners who are instrumental in shaping the future of decentralized finance.
Key participants in this funding round include Torab Torabi, CEO of Move Industries, Coin Bureau Chinese, DVchain, Taiko, Rootstock, and a number of influential angel investors and ecosystem contributors.
Funding to Fuel Token Launch and Product Development
The newly acquired capital will be dedicated to accelerating the development and launch of LayerBank's native token, $ULAB. This token is designed to be the core of the platform's long-term value capture and incentive structure. With features like ve-boosted rewards, fee distribution mechanisms, and sustained buyback-and-lock strategies, $ULAB aims to align user engagement with the platform's growth from its inception.
Furthermore, this funding will enable LayerBank to advance its product roadmap, which focuses on creating intuitive, automated, and user-centric DeFi products. These offerings are intended to provide users with access to sophisticated yield strategies through simple and seamless interfaces.
Strategic Token Generation Event on Movement Network
LayerBank's Token Generation Event (TGE) is slated to be hosted on the Movement Network. This strategic decision positions LayerBank as one of the initial projects to launch its ecosystem token on this network.
This collaboration underscores a mutual dedication to fostering innovation in DeFi and broadening access to deep markets, stable borrowing conditions, and intuitive lending functionalities for users within the Movement ecosystem.
Executive Commentary on the Funding and Vision
"We're thrilled to complete our first fundraising round and accelerate the rollout of products that are intuitive, automated, and genuinely useful for everyday users. $ULAB will serve as the economic engine of the LayerBank ecosystem, and this milestone brings us closer to unlocking the full potential of our incentive and value-accrual design."
Ray, CEO of LayerBank
"LayerBank represents the type of perseverance and loyalty that’s needed to succeed for both an app and for an ecosystem. Although LayerBank is live across multiple chains, they ultimately decided to call Movement, ‘The People’s Chain,’ home. $ULAB sets a strong precedent for how projects should approach value accrual back to users, especially in DeFi. We're proud of LayerBank's vision and excited to see them bring deep liquidity, RWA access, and intuitive lending products to the Movement ecosystem.”
Torab Torabi, CEO of Move Industries
About LayerBank
LayerBank is a universal liquidity and on-chain money market designed to power the next generation of decentralized finance. The platform supports over 150 markets across more than 17 chains, encompassing EVM, MOVE, and BTC-based ecosystems. LayerBank provides frictionless lending, borrowing, and advanced yield strategies through a unified, chain-abstracted experience. With a user base exceeding 693,000, LayerBank facilitates scalable liquidity, capital efficiency, and real yield across both DeFi and Real World Asset (RWA) markets.
About Movement Network
Movement Network, also known as "The People's Chain," is a secure and scalable blockchain engineered to make Move programming accessible to developers globally. Featuring high-performance execution and robust security, Movement provides the essential infrastructure for the next wave of decentralized applications, aiming to unlock opportunities and financial empowerment for individuals worldwide.
About Move Industries
Move Industries is focused on building a community-centric blockchain ecosystem based on Move programming. Guided by a team of seasoned industry professionals, Move Industries maintains a dual emphasis on technological advancement and community engagement. The organization is committed to returning to the foundational principles of crypto by empowering individuals with financial power and opportunity.