Kolibrio, a Web3 infrastructure startup, raised $2 M in a seed funding round.
This funding will be used to advance Kolibrio’s flagship product — BEV Relay.
Jump Crypto led the funding and Delta Blockchain Fund, Everstake Capital, and other angel investors participated.
Kolibrio, a Web3 infrastructure startup, has raised $2 million in a funding round led by Jump Crypto. Delta Blockchain Fund and Everstake Capital participated in it along with other angel investors to build a Web3 order flow auction solution.
In a recent press release, Kolibrio announced that they successfully completed a seed funding round, raising $2 million. Furthermore, the company expressed that the funding round marks a significant milestone for Kolibrio and the growing demand for solutions to the MEV problem.
Sharing the vision of Kolibrio founders, Everstake Capital’s Denys Vashchuk, states:
“We believe OFA and MEV distribution solutions will be important components of the Web3 internet.”
Kolibrio aims to solve the Maximal Extractable Value (MEV) problem by offering an on-chain order flow auction system (OFA), which can be used by order flow originators like wallets, node providers, and dApps to benefit the end user.
A spokesperson for Kolibrio states:
“Our goal is to help transaction originators get ownership of the order flow they create and have the option to monetize it via a system of on-chair order flow auctions.”
MEV is a phenomenon that occurs at various layers of the smart contract blockchains as a result of transaction reordering, front-running, and censorship. It has become a hot topic in the community as it leads to a loss of value for Web3 users and undermines the integrity of the ecosystem. It can also be considered a re-imagination of a traditional finance concept known as ‘Payment for Order Flow’ (PFOF).
Kolibrio ensures that the funds will be used to advance the development of Kolibrio’s flagship product — BEV Relay, an on-chain order flow marketplace connecting transaction originators with algorithmic trading bots known as searchers.
The company, with the support of Jump Crypto, Delta Blockchain Fun, and Everstake Capital, is well-positioned to bring its innovative technology to a growing market and help shape the future of DeFi, assures Kolibrio.
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