Robot Ventures has been the major lead in a $5.2 million seed funding round for Sprinter, a cross-chain ‘solving-as-a-service’ infrastructure startup by ex-Ethereum veterans. The round got the additional funding from A Capital, Atka Capital, Bond St Ventures, Topology, and Uniswap Labs Ventures, along with the angel investors from the Web3 community.
The angel investors in the round include 0xbow’s Ameen Soleimani, Optimism’s Eva Beylin, and WAGMI Ventures’ Chen Zituo. It is a clear indication of industry-wide support for Sprinter’s innovative approach to blockchain transaction execution. The startup is currently in private beta and is focusing on the efficiency and performance of decentralized solvers – a rapidly growing category of off-chain algorithms and market-making systems that perform on-chain actions on behalf of users.
Sprinter technology revolves around two main products: Sprinter Stash and Sprinter Solve. Sprinter Stash is a cross-chain credit protocol that gives access to liquidity to solvers and market makers without the need for collateral – a breakthrough in DeFi infrastructure. In this way, liquidity providers can put USDC in the protocol and get solver fees as well as contribute to the overall market efficiency.
On the other hand, Sprinter Solve provides decentralized applications, wallets, and protocols with a request-for-quote-based swap API that allows them to carry out transactions in a quicker and cheaper way. To sum up, these elements are interlinked to tackle the problem of transactional performance in the DEX space.
Sprinter is the brainchild of a team of prominent Ethereum core developers and EIP authors, which underlines the project’s strong technical basis in the blockchain community. Among the leadership team, there is Aidan Hyman, CEO of ChainSafe Systems, and Dean Eigenmann, a former ENS developer and a long-time Ethereum contributor.
The young company is also looking forward to launching a governance token, SPRINT, as a means of incentivizing liquidity providers, solvers, and community members. Token holders can use veSPRNT to stake and take part in protocol governance as well as get some more rewards. With this architecture, Sprinter aims to combine the interests of developers, market participants, and liquidity providers in a transparent, decentralized ecosystem designed for the optimization of blockchain transaction infrastructure.
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