The platform hopes to build a data infrastructure that will power the data needs of DeFi applications on the Solana blockchain.
Vybe Seed Fund Campaign
Vybe Network is off to a good start in its quest to be the go-to data infrastructure solution for the Solana blockchain. The platform completed a seed fund campaign, raising $2.5 Million for its developmental plans.
Several key venture capitalists and angel investors contributed to the fund pool, according to the Medium blog announcement from January 11. Notable participants include Alameda Research, Sino Global Capital, Lemniscap, among others.
“Vybe Network are happy to announce our seed funding supported by leading players in the game! The hard work continues,” Vybe declared in a recent tweet.
The seed fund will go towards expanding the team and help offset the costs of building the project’s data network infrastructure.
Vybe network aims to provide querying, indexing, and on-chain data exchange services for web3.0 projects building on Solana. The project also collaborates with other Solana protocols to form a chain-wide strong network of accessible real-time data.
Vybe’s investors seem convinced that the project has good potential to do well on the Solana blockchain:
“Vybe is a prime example of a team that recognized an important missing part in an up-and-coming ecosystem and delivered a solution on the back of a growing demand,” remarked Roderik van der Graaf, Managing Partner at Lemniscap.
Vybe Network’s roadmap for 2022 comprises several milestones that should strengthen its presence on Solana. The platform plans to fully deploy its data indexer functionality as well as map out the tokenomics of its $VYBE token. In the latter part of the year, Vybe will become a decentralized autonomous organization (DAO). See the project’s website for more details about Vybe Network’s roadmap.
“Having integrated with many of the top protocols, the Vybe team is well-positioned to become an integral infrastructure protocol for the Solana ecosystem,” Brian Lee, Partner at Alameda Research Ventures, agreed with his Lemniscap counterpart.
The prospects are looking good for Vybe Network. However, it is relatively new on Solana-space. Despite interest from Venture capitalists, time will test the robustness of the Vybe Network as a secure long-term investment destination.
What is Vybe Network
Vybe Network is a data infrastructure solution that enables the Solana community to query, index, and exchange on-chain data to build web 3.0 dApps and analytics. We’re providing tooling that allows users to easily stream and query both real-time and historical data from a distributed network of indexers. Our ultimate goal is to decentralize data access and storage so anyone can participate in our network to monetize and share their data, power their innovative dApps, and gain insights into their favorite Solana protocols.
Where to find Vybe Network:
Source : solana.news
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