Cross-chain liquidity network Side Protocol development company completes $1.5 million Pre-Seed round of financing

According to The Block, Side Labs, a cross-chain liquidity network Side Protocol development company, completed a $1.5 million Pre-Seed round of financing through SAFT. Participating parties include Hashkey Capital, KR1, Continue Capital, Symbolic Capital, Informal Systems, Dora Ventures, Charles Lu, Harry Halpin, Eric Chen, Mirza Uddin, Siddhartha Dutta and Vincent Niu. Side Labs intends to use the financing to expand its team and ensure compliance with legal and compliance standards while building a mesh liquidity network. Side Labs intends to launch a private testnet within the next month, in addition to building a public testnet to explore user rewards, grid liquidity, staking and governance, and other features, as well as launch the first version of its mainnet within six months, followed by a V2 testnet that introduces zero-knowledge technology. Side Lab plans to launch a V2 mainnet with ZK technology next year, providing grid liquidity for L1 and L2 protocols.