The Semantic Layer, a developer of decentralized application (dApp) infrastructure, has raised $3 million in seed financing, marking its total funding to date. This funding round was led by Figment Capital, with additional contributions from Hack VC, Robot Ventures, Bankless Ventures, Fenbushi Capital, Anagram, and Perridon Ventures, as reported by The Block.
Semantic Layer is focused on enhancing transaction execution infrastructure with its innovative tools, Verifiable Aggregation Rules (VAR) and Verifiable Sequencing Rules (VSR). These tools are designed to provide dApps with greater control over multi-blockchain transaction ordering and bundling.
Utilizing VAR and VSR within the Semantic Layer's application-specific sequencing (ASS) framework, the platform aims to reduce maximal extractable value (MEV) leakage. Furthermore, it allows dApps to detect and mitigate malicious transactions through mechanisms known as circuit breakers.
According to co-founder Daniel Tong, the primary goal of this funding round is to advance the core of the semantic layer and increase market awareness of ASS, including sponsorship of research and developer discussion events.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block and invests in various companies within the crypto sector.
