The NodeKit team, who are working on the Avalanche-based network SEQ, has received $1. 2M in funding from Borderless Capital, the Avalanche Blizzard Fund, Polygon Ventures, and Wormhole Cross-Chain Ecosystem Fund.
NodeKit is making a network called SEQ to help rollup chains start and spread out their transactions in a simple way. SEQ will work as its own blockchain or smaller network within the Avalanche system.
Most rollup chains in the Ethereum ecosystem will work with SEQ’s software, including smart contract rollups and frameworks like OP Stack. Also, rollups that work together with SEQ will be able to connect with each other across different blockchains.
“NodeKit lets rollups work together smoothly, which allows for creative rollup designs and gives on-chain applications the ability to compete with off-chain applications,” said Noah Pravecek, who is the CEO of NodeKit. “This allows rollups to have both decentralization and lots of users without having to pick one over the other. ”
SEQ’s design will also work with different data availability layers like Celestia.
SEQ will be tested in 2024 and the main release will come after that.
Using Avalanche’s HyperSDK to our advantage.
SEQ is one of the first big projects made with Avalanche’s HyperSDK software toolkit. HyperSDK gives developers the ability to customize and improve custom blockchains on top of Avalanche.
NodeKit is Avalanche’s first step into the very competitive and fast-growing Ethereum Layer 2 market. Layer 2 sequencers make money when people buy and sell things. The most popular Layer 2s, like Optimism and Arbitrum, have earned millions of dollars in fees recently.