Introducing the next phase of the core network, Lava Network reached $15 million in a Seed funding round.
According to a recent post on the Lava Network blog, the funding round was co-led by Tribe Capital, Jump Capital and Hashkey Capital. Alliance DAO, Node Capital, North Island Ventures, Finality Capital Partners andseveral other investors participated.
The goal of the funding was to create a key modular data access layer for web3, differentiating it from projects like Celestia and Dymension, which aim for data accessibility, billing and consensus.
Lava’s architecture allows APIs and chains to be added as modules without permission, enabling scalable multi-chain access. Node operators will contribute by supporting these modules, while the protocol ensures performance by routing requests to the best node providers.
The blog states that Lava is a unified platform that brings together data providers in any chain and services: RPC, indexing, oracles, MEV APIs, sequencers, etc. It states: “Access to blockchain data is critical and anyone can contribute to the Lava layer to help scale web3.”
In addition, Lava Network announced the next phase of its core network, offering rewards for Magma points . By reconnecting wallets with Lava, users can now collect points. Users can also use partner wallets such as Leap Cosmos and Sender Wallet to earn points.
Points in the ecosystem are designed to distinguish their contribution to different roles. For example, by launching projects and sending requests through Lava. Delegators can improve network efficiency and security by helping validators and providers.
In addition, data providers can collect points for running nodes and sending data across blockchains. This structured point system was designed to encourage participation while maintaining Lava’s goal of enabling scalable access to data across multiple chains.
“Rewards are distributed based on the number of services served and quality of service, i.e. speed, uptime and accuracy, thus optimizing performance for developers and users,” – Lava Network CEO Yair Cleper said .
