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It’s been a busy week for VC pay raises, but some projects are catching heat around social media because it’s infrastructure play.
For example, like unto lab.
“We definitely put a bucket in ‘another L1, ah no’ (discussion).’ We were a bit sad about it, but we need to prove it.
But Yoo and co-founder Liam Heager said they are taking on the challenge because both “did this before,” but other teams “have not built a system that is supposed to perform on a very high level of scale.”
“We love Solana and I think they’ll be an incredible competitor, and we’re honored to compete with them,” Yu said. They “rip” Solana virtual machines in thrus and claim they will not compete with Solana’s clients in Jump.
Heeger is a Crypto jump, but he didn’t leave without making waves. Jump filed a lawsuit against Heeger after leaving Firedancer to start with Yoo. The incident was dismissed in February, and the two said they had a term sheet from electricity capital.
They will not comment further on the lawsuit.
The $14.4 million round combines pre-seed and seed pay raises. Framework Venture led the pre-seed.
Capital is directed towards building a core infrastructure on the thru and the ecosystem around it. They said, “We expect it to be capital-intensive, but we believe it will be capital-efficient because it will be a first-party rather than a third-party.
In their thru manifesto, the two claimed that blockchain has “lost a way.”
“The consensus of thrus expands through competition rather than accumulation. Operators ruthlessly push towards zero to zero, which they gain towards zero rather than attractive interests,” he said. The goal is to compete with Web2 as well as other Web3 projects.