Andreessen Horowitz (a16z) has invested an additional $55 million in LayerZero (ZRO) tokens, with a three-year lockup period. This investment follows a16z's previous leadership in LayerZero's Series A+ and Series B funding rounds in 2022 and 2023, respectively. LayerZero is an omnichain interoperability protocol that currently holds over 75% market share, manages assets exceeding $100 billion, and processes transfer volumes of approximately $6 billion per month. Following the announcement of the private token sale, LayerZero's token price rose by around 9-10%. In a separate development, Linera, a layer-1 blockchain focused on scalability through microchains, has raised $12 million in seed funding across two rounds. Andreessen Horowitz led the first $6 million seed round in June 2022. Linera recently launched the second stage of its Babbage testnet and is conducting incentive programs that may be linked to future token airdrops.
Linera, a layer-1 blockchain focused on scalability through microchains, has raised $12 million in seed funding across two rounds. The investors include: ✅a16z crypto (Andreessen Horowitz): Led the first $6 million seed round in June 2022. ✅Borderless Capital: Led the second https://t.co/d5PCm08aB7
Linera phase 2 is ending soon... Raised: $12M from a16z Click link and get started https://t.co/CxGmvhwV6A https://t.co/yr51yWmIQ1
❗️@a16zcrypto unveiled a $55M investment in @LayerZero_Core $ZRO The investment in tokens features a 3-year lockup. Previously, #a16z led the two rounds of financing of #LayerZero from Round A1 in 2022 to Round B in 2023. https://t.co/NPaHKSyXwH