{"id":55698,"date":"2024-04-09T15:23:17","date_gmt":"2024-04-09T08:23:17","guid":{"rendered":"https:\/\/coinwire.com\/?p=55698"},"modified":"2024-04-09T15:23:20","modified_gmt":"2024-04-09T08:23:20","slug":"karak-network-unveils-plan-series-a-48m-funding-round","status":"publish","type":"post","link":"https:\/\/coinwire.com\/karak-network-unveils-plan-series-a-48m-funding-round\/","title":{"rendered":"Karak Network Unveils Visionary Plans After Landmark Series A $48M Funding Round"},"content":{"rendered":"\n

Karak Network<\/a> has recently announced a monumental achievement – a successful Series A funding round that raised an impressive $48 million, valuing the company at over $1 billion. This substantial investment is set to propel Karak’s ambitious plans to accelerate universal security not only for Ethereum<\/a> but across the entire crypto economy and multiple blockchain ecosystems.<\/p>\n\n\n\n

<\/span>Revolutionizing Crypto economic Security with Restaking<\/span><\/h2>\n\n\n\n
\"Source:
Source: Karak<\/em><\/figcaption><\/figure>\n\n\n\n

With this significant funding secured, Karak is poised to revolutionize crypto economic security through its innovative approach to restaking. The network’s endgame includes the development of a universal restaking layer, harnessing the collective power of the crypto economy by allowing participants to contribute with any asset, on any chain.<\/p>\n\n\n\n

Karak’s mission is to democratize cryptoeconomic security, empowering developers to create innovative infrastructure designs that are both seamless and secure, without sacrificing the diversity of assets beyond just ETH. By expanding the pool of assets securing networks, Karak offers sustainable yields and reduced opportunity costs compared to traditional ETH-only environments.<\/p>\n\n\n\n

The Series A funding round provides Karak with the resources to empower developers and protocols across different ecosystems. By granting access to robust and secure trust networks from inception, Karak aims to enhance the scalability, accessibility, and affordability of bootstrapping security for new applications and protocols. This inclusive approach not only fuels the creation of powerful decentralized services and applications but also enhances existing ones, spanning chains, rollups, ZK Provers, AI Coprocessors, and more.<\/p>\n\n\n\n

Read more:<\/strong> Wifi Dabba\u2019s DePIN Initiative: Decentralizing Internet Access in India<\/a><\/p>\n\n\n\n

<\/span>Private Access: Unlock Enhanced Rewards and Exclusive Opportunities<\/span><\/h2>\n\n\n\n
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Karak is excited to announce that Karak Private Access is now live!

Private access is only accessible with an invite and those who join and restake earn Karak XP

Figure out how to get an invite code

If you are having a hard time finding one, drop by our Discord

*Hint: ZYYN1*<\/p>— Karak \ud83c\udf4a (@Karak_Network) April 8, 2024<\/a><\/blockquote>