Lumia Reports 25,000 HyperNode Sales, Completes New Funding Round
08/16/2024 17:26
With 25,000 nodes sold and fresh investments secured, Lumia is set to expand its blockchain infrastructure and DeFi integration.
Lumia recently announced the sale of over 25,000 HyperNodes. This achievement coincides with the closing an undisclosed fundraising round led by Nomura’s Laser Digital.
Lumia’s raise also saw participation from other investors, including DWF Labs and TRGC.
The Role of HyperNodes in Lumia’s Blockchain Vision
The funds raised will support Lumia’s efforts to advance its Layer-2 (L2) solution, which aims to integrate real-world assets (RWAs) into decentralized finance (DeFi) systems. Jez Mohideen, CEO of Laser Digital, expressed enthusiasm about supporting Lumia during this growth phase.
Read more: A Beginner’s Guide to Layer-2 Scaling Solutions
Kal Ali, Core Contributor at Lumia Foundation, explained to BeInCrypto that the company is currently focusing on several key initiatives. These include liquidity aggregation, node-owned liquidity, and cross-chain interoperability.
“As RWAs are brought on-chain, ensuring regulatory compliance and robust security measures is paramount. Lumia is dedicated to building a compliant and secure environment that meets global standards, ensuring that RWAs can be traded safely within the DeFi ecosystem,” Ali said.
Lumia is a zero-knowledge Ethereum Virtual Machine (zkEVM) L2. It is affiliated with the centralized exchange Orion and developed in collaboration with Polygon and GatewayFM.
Lumia began selling HyperNodes in mid-July as part of its fundraising efforts. The team claimed that in less than a month, they had raised $25 million from the sales.
HyperNodes, also known as Availability Committee (DAC) nodes, are integral to Lumia’s decentralized network. These nodes aim to ensure scalability, security, and compliance across various jurisdictions, supporting the integration of RWAs into the blockchain.
Read more: Layer-2 Crypto Projects for 2024: The Top Picks
HyperNodes maintain the network’s integrity by verifying transaction data and earning real yield through trading fees. This system provides financial incentives for active participation, contributing to the network’s overall liquidity and stability.
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Lynn Wang is a seasoned journalist at BeInCrypto, covering a wide range of topics, including tokenized real-world assets (RWA), tokenization, artificial intelligence (AI), regulatory enforcement, and investments in the crypto industry. Previously, she led a team of content creators and journalists for BeInCrypto Indonesia, focusing on the adoption of cryptocurrencies and blockchain technology in the region, as well as regulatory developments. Prior to that, at Value Magazine, she covered...
Lynn Wang is a seasoned journalist at BeInCrypto, covering a wide range of topics, including tokenized real-world assets (RWA), tokenization, artificial intelligence (AI), regulatory enforcement, and investments in the crypto industry. Previously, she led a team of content creators and journalists for BeInCrypto Indonesia, focusing on the adoption of cryptocurrencies and blockchain technology in the region, as well as regulatory developments. Prior to that, at Value Magazine, she covered...
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