Solana Leads $3M Funding Round in Blockchain Data Platform PARSIQ
Blockchain data monitoring startup PARSIQ has closed a funding round of $3 million, led by the Solana Foundation.
The funding round also included notable investors such as Axia8 Ventures, Mindworks VC, Krypital Group, CoinUnited, and others.
PARSIQ To Use Fund To Expand Product Suite
The PARSIQ platform allows users to customize their notification settings to block out undesired noise while receiving important information in real-time.
The blockchain data firm revealed that the fund raised would be used to expand its product suite.
PARSIQ tools include notifications for token transfers, price fluctuations, and other blockchain-related movements.
Solana Founder Anatoly Yakovenko, while speaking on the investment, said access to blockchain data through apps like PARSIQ was critical.
He noted that PARSIQ would help developers of Solana-based projects worry less when building out their stack, allowing them to concentrate more on their product.
The investment into PARSIQ comes after Solana raised $314 million in a private token sale.
The sale was led by Andreessen Horowitz and Polychain Capital with participation from Alameda Research, Block change Ventures, CMS Holdings, Coinfund, and others.
Founded in 2017, Solana is an advanced open-source blockchain project focused on providing a highly scalable, secure, and maximally decentralized platform.
Dubbed the Ethereum killer, Solana has been active in building tools and networks for others to build on the platform.
It has several decentralized exchanges (DEXes) and protocols built on it such as Serum, Raydium, KIN, Audius, Mango Markets, Bonfida, Maps.me, Pyth Network, USDC, Phantom wallet, and more.
Solana Hackathon’s Step Finance To Aggregate With Solana’s DEXes
The Solana blockchain had attracted thousands of developers to its network, breaking records for the most number of participants in a hackathon this year.
The hackathon, in collaboration with Serum, had over 3,000 registrations and over 100 project submissions.
One of the projects that emerged from the Solana hackathon is Step Finance, a DeFi position manager and aggregator. Although Step Finance did not win any prize during the event, it appears to be doing very well.
Step Finance started aggregating Solana’s decentralized exchanges (DEXs), including automated market maker Raydium, SerumDex, and Orca, to give traders faster access to price information.
Step Finance’s trading dashboard, called the Step Dashboard, will enable traders to have access to $845 million of liquidity and execute trades quickly at low fees.
Earlier this year, the aggregator completed a private token sale for $2 million in a round that saw participation from various Solana backers including Almaeda Research and Raydium.