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Moondance Labs raises $6 million to streamline Tanssi Protocol development

Moondance Labs raises $6 million to streamline Tanssi Protocol development

Moondance Labs, the company behind the Tanssi appchain infrastructure protocol, has secured $6 million in a strategic funding round co-led by venture capital firms Scytale Digital, KR1, and SNZ, according to info shared with Finbold on March 20. 

The round saw enthusiasm from prominent blockchain venture capitals like Arrington Capital, Borderless Capital, Hypersphere, and Blockchain Founders Fund, as well as angel investor Gavin Wood.

Moving Tanssi beyond Polkadot

George McDonaugh, Managing Director and Co-Founder of KR1, expressed his confidence in Moondance Labs’ progress, noting the ground covered by the team in the past year:

“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. We are very excited to support them on their journey as they expand Tanssi from Polkadot and beyond. Tanssi will play a critical role for appchains by allowing developers to leverage its efficiency and scalability benefits easily.”

— George McDonaugh, Managing Director and Co-Founder of KR1

The infusion of capital will help expand Moondance Labs’ team and advance the development of Tanssi, simplifying and expediting appchain deployments. 

The protocol equips devs with the tools necessary for swift and efficient chain launches, reducing processes that used to take months to mere minutes.

Tanssi’s diverse appchain applications

By streamlining appchain deployment, Tanssi overcomes technical and cost barriers, facilitating the launch of appchains in non-fungible token (NFT), decentralized finance (DeFi), gaming, real estate, and green energy sectors.

Francisco Agosti, Co-founder of Tanssi and CEO of Moondance Labs, showed enthusiasm about closing the funding round, emphasizing the team’s focus on offering an unparalleled developer experience without any compromises:

“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. 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.” 

— Francisco Agosti, Co-founder of Tanssi and CEO of Moondance Labs

The upcoming testnet campaign

In addition to its current development endeavors, the Tanssi team is looking forward to an incentivized testnet campaign aimed at celebrating and rewarding the community for its contribution to innovative projects within its ecosystem. 

The campaign will come as a series of on-chain and off-chain challenges set to foster deeper interaction with Tanssi’s technology and the diverse range of dApps. 

Aimed at developers and enthusiasts alike, the campaign seeks to promote engagement and incentivize active participation by giving the community a chance to test and tweak the network’s capabilities.

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