NodeKit, the team working on Avalanche-based network SEQ, raised $1.2 million in a pre-seed round led by Borderless Capital, with participation from the Avalanche Blizzard Fund, Polygon Ventures and Wormhole Cross-Chain Ecosystem Fund .
NodeKit is building SEQ, a shared sequencer Layer 1 network that will help rollup chains launch and decentralize their transactional sequencing. SEQ will function as an individual blockchain or subnet in the Avalanche ecosystem.
Most existing rollup chains in the broader Ethereum ecosystem will be compatible with SEQ in terms of software, including smart contract rollups (such as ZK and Optimistic) and frameworks such as OP Stack. Additionally, rollups that integrate with SEQ will gain cross-chain interoperability with each other.
“NodeKit ensures rollups have seamless interoperability, unlocking an innovative rollup design that allows on-chain applications to compete directly with centralized off-chain applications,” said Noah Pravecek, CEO of NodeKit. “This enables a new design space for rollups. , where they don’t have to choose between decentralization or high user growth.”
SEQ’s design also supports different data availability layers, such as Celestia.
SEQ’s testnet launch is planned for 2024, followed by a mainnet release later.
Take advantage of Avalanche’s HyperSDK
SEQ is one of the first major projects developed using Avalanche’s HyperSDK software toolkit. HyperSDK provides builders with customizability while optimizing for custom blockchains built on top of Avalanche.
NodeKit marks Avalanche’s entry into the highly competitive and ever-expanding Ethereum Layer 2 niche. Layer 2 sequencers collect fees as users make trades, with top Layer 2 sequencers like Optimism and Arbitrum generating millions of dollars in total fees in recent months.