Lava Network, an Israeli startup offering a blockchain infrastructure protocol, has successfully raised $12 million in its latest funding round, marking a significant milestone in its mission to revolutionize decentralized infrastructure.
A blockchain infrastructure protocol is the underlying set of rules and technologies that allow a blockchain network to function. It’s the foundation upon which decentralized applications (dApps) and cryptocurrencies are built. Some blockchain protocols support smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. This enables automated and trustless execution of agreements.
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Founded in 2022, Lava Network is a decentralized network of API providers, where developers make one subscription to access any blockchain. Providers are rewarded for their quality of service, so your users can fetch data and send transactions with maximum speed, data integrity and uptime. Pairings are randomized, meaning your users can make queries or transact in privacy.
LAVA is the first global platform to solve impermanent loss in decentralized finance (DeFi) by enabling arbitrage across market making rates through the collateralization and lending of liquidity positions. The platform’s core infrastructure allows borrowers to arbitrage across liquidity provision rates between DeFi and centralized finance (CeFi) towards an effective market rate, while simplifying the yield optimization for passive liquidity providers.
Lava is a protocol which coordinates traffic from AI agents, apps and wallets on every blockchain. Lava aggregates data providers and directs transactions and queries such as your wallet balance, based on the speed and reliability of the provider. The protocol has secured $3.5m+ in revenue, with chains and apps like NEAR, Starknet, Filecoin, and Axelar already paying LAVA stakers and providers $1m+ to offer ultra-reliable service.
Lava is a modular blockchain network focused on providing data access through remote procedure calls (RPCs) and indexing. In web3, application developers need to make RPC requests to send and retrieve blockchain data, while indexing helps them get specific data from a blockchain network.
“Developers use Lava to retrieve and send blockchain data (‘access blockchains’),” Cleper said. “New chains and APIs are added permissionlessly to Lava, which means the network can dynamically and quickly support access to all of web3.”
Lava can be compared with the popular modular blockchain network Celestia, but the latter is focused on data availability, and the former is focused on data access, Cleper said.”
