Moondance Labs raises $6M for Tanssi appchain protocol

Tanssi protocol simplifies appchain deployment, attracting significant VC interest.

Moondance Labs raises $6M for Tanssi appchain protocol

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Moondance Labs has secured a $6 million investment to accelerate the development of its Tanssi appchain infrastructure protocol on Polkadot’s ecosystem. The strategic funding round was co-led by Scytale Digital, KR1, and SNZ, with additional participation from blockchain venture funds such as Arrington Capital, Borderless Capital, Hypersphere, and Blockchain Founders Fund. Angel investor Gavin Wood also contributed to the round.

The newly acquired funds will be used to expand the Moondance Labs team and further develop the Tanssi protocol, which aims to simplify and expedite appchain deployments. Tanssi’s infrastructure tools enable developers to launch chains quickly and efficiently, transforming them into modular appchains with access to a permissionless, developer-friendly environment.

“The Moondance Labs team has made great progress over the past year, delivering on Tanssi’s roadmap to become the go-to tool for appchain developers,” stated George McDonaugh, Managing Director and Co-Founder of KR1. “We are very excited to support them on their journey as they expand Tanssi from Polkadot and beyond.”

Tanssi is a smart contract infrastructure aimed at facilitating the process of deploying specific-application blockchains, commonly called ‘appchains’. As the name suggests, instead of creating an application through a smart contract on an existing network, appchains are focused on a specific use case.

The appchain model is becoming progressively popular, as more ecosystems bet on these structures, such as Ethereum’s layer-2 blockchains. Optimism envisioned an infrastructure of connected blockchains called Superchain, while Arbitrum is building something similar with its Orbit program, and zkSync with its Hyperchain plans.

“The team is excited to have closed this round; now, we can focus on accelerating Tanssi’s development. Since the project’s inception, our goal has been to offer the best possible developer experience for deploying Layer 1s, without compromising on security or decentralization,” said Francisco Agosti, Co-founder of Tanssi and CEO of Moondance Labs. “We’ll continue to push forward toward that vision. I’d also like to extend my thanks to all the round’s participants for their continued support.”

Tanssi is also preparing to launch an incentivized testnet campaign to engage the community and showcase the capabilities of the diverse range of dApps built on its platform.

Disclaimer: This article was crafted with the assistance of artificial intelligence (AI) tools.

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