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- Neutron, an smart contract protocol based on Cosmos, has raised $10 million in a seed funding round led by Binance Labs and CoinFund.
- CoinFund will contribute to the funding, which will help develop Neutron’s blockchain software and promote growth within its ecosystem.
- The increasing market demand for layer-2 (L-2) solutions and Neutron’s support for Rust, the second most popular smart contract language, make it well-positioned to meet the needs of the market.
CoinFund has partnered with Neutron to support the development of its blockchain software and foster growth within its ecosystem. The seed funding round, led by Binance Labs and CoinFund, has raised $10 million for Neutron, a smart contract protocol operating within the Cosmos ecosystem.
Neutron Raises $10 Million in Funding Led by Binance Labs and CoinFund
Alex Felix, the Head of Investments at CoinFund, commented on the funding round, stating that Neutron will significantly address the growing market demand for layer-2 solutions:
The market demand for application chains and layer-2 solutions is rapidly increasing. Additionally, Neutron provides essential tools and supports Rust, the world’s second most popular smart contract language.
Neutron, which launched its mainnet in May, is designed to enable the creation of smart contracts using CosmWasm within the Cosmos ecosystem. It also allows developers to write code in the Rust programming language.
The company did not disclose its valuation despite raising $10 million in the funding round.
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Binance Labs, the investment arm of Binance, recently announced that it has selected five projects to invest in as part of its incubation program.
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