Risk management L2 network Karak posted on the X platform that it has entered the early access stage of the main network. The KarakXP early access plan is now online and is only available by invitation. Users can cross-chain assets such as ETH and USDC to Karak to earn XP.
In December last year, Andalusia Labs announced the completion of a $48 million Series A round of financing, led by Lightspeed Venture Partners, with participation from Mubadala Capital, Pantera Capital, Framework Ventures, Bain Capital Ventures and Digital Currency Group. This round of funding will be used for product development and team expansion. The company has raised about $51 million in total so far. The company has three product lines: L2 called Karak; crypto risk management marketplace Subsea; and institutional platform Watchtower.