Helix Labs
A universal ZK rollup focused on decentralized finance.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor investor investor | €0.0 | round | |
* | $2.0m | Seed | |
| Total Funding | 000k | ||
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Helix Labs is a blockchain infrastructure protocol focused on enhancing liquidity and utility for non-Ethereum Layer 1 assets through restaking mechanisms. The company is headquartered in Road Town, British Virgin Islands. In September 2024, Helix Labs successfully closed a $2 million pre-seed funding round at a $40 million valuation, with lead investors including Tribe Capital, EMURGO Ventures, Taureon Capital, LD Capital, and Double Peak Group.
The firm is led by CEO Sneh Bhatt, who possesses a background in systems and nuclear engineering and was previously the founder of Monarch wallet and a whitepaper author and technical advisor for Trust wallet. The company's core mission is to solve the "cold start" problem for Layer 3 ecosystems by providing liquidity as a service and increasing the use-cases for canonical Layer 1 assets. Helix Labs targets blockchain projects and developers, enabling them to optimize asset utilization across different ecosystems. The business model centers on maximizing yield-earning opportunities for asset holders through a suite of specialized products.
Helix Labs' product line includes three main offerings. The Helix Vault integrates liquid staking and restaking protocols from various Layer 1 blockchains, with a notable focus on Cardano. Its UniRollup L2 is a single Move Stack roll-up that hosts Liquid Staking Tokens (LSTs) from Layer 1s, allowing for their restaking and integration into diverse DeFi protocols. Finally, the OmniVM AVS is designed to bootstrap emerging Layer 3 ecosystems by providing liquidity abstraction. A key application of this technology is unlocking Cardano's ADA liquidity, estimated at approximately $12 billion, by issuing a liquid staked ADA token that can be bridged to other ecosystems for use in DeFi applications like lending and automated market makers (AMMs). The company is also part of Movement Labs' Move Collective accelerator program to further this initiative.
Keywords: restaking, liquid staking, blockchain liquidity, DeFi, Layer 3, Cardano, asset utility, cross-chain, MoveVM, OmniVM, Sneh Bhatt, Tribe Capital, EMURGO Ventures, liquid restaking tokens, LRTs, EigenFi, liquidity abstraction, decentralized finance, blockchain infrastructure, crypto protocol