According to DeepFlow TechFlow, on December 5, as reported by Chainwire, the decentralized lending protocol LayerBank has completed a $2.3 million pre-seed funding round. This round was participated in by Move Industries CEO Torab Torabi, Coin Bureau Chinese, DVchain, Taiko, Rootstock, as well as several well-known angel investors and ecosystem contributors.
The funds raised will be used for the development and launch of LayerBank’s native token $ULAB, which features ve-enhanced rewards, fee-driven value distribution, and a continuous buyback and lock-up mechanism. LayerBank’s token generation event (TGE) will be held on the Movement Network, making it one of the first ecosystem token launch projects on the network.
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