Strata Protocol
Creating a protocol to launch tokens around a person, project, idea, or collective on solana.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
* | N/A | Acquisition | |
| Total Funding | 000k | ||
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Strata Protocol operated as an open-source protocol on the Solana blockchain, designed to streamline the creation and management of tokens. Founded in 2021 by Noah Prince and Bryan Zettler, the Chicago-based company aimed to make tokenization accessible to a broad audience, including non-technical creators, through no-code tools. Prince, serving as CEO, and the Strata team developed a platform that catered to the creation of social tokens, GameFi tokens, and tokens for Decentralized Autonomous Organizations (DAOs).
The core of Strata's business was to provide infrastructure for the burgeoning creator economy on the blockchain. It offered a launchpad that functioned as a permissionless, no-code solution for anyone to launch and sell their own tokens on Solana. This approach was designed to eliminate the barriers to entry that smaller projects often faced with traditional launchpads, which typically vet for larger, high-potential launches. The protocol was open-source and free to use, abstracting away the complex layers typically involved in token creation on Solana.
A significant technical feature of Strata Protocol was its Liquidity Bootstrapping Curve (LBC), a mechanism for dynamic price discovery during a token launch. This system, similar to a dutch auction, started with a higher price that would decrease over time but increase with each purchase, allowing the market to determine a fair value. This was particularly useful in mitigating bot activity during NFT mints, a problem the protocol addressed through a partnership with Metaplex to enable dynamic pricing for new collections. In April 2022, Strata Protocol announced it had raised $1.5 million in a seed funding round. The round was led by Multicoin Capital and included notable investors such as Solana Ventures, Alameda Research, and Asymmetric Partners. According to reports, the company was acquired by the Helium Foundation in November 2022 and is considered inactive or "deadpooled".
Keywords: Strata Protocol, Solana, token launchpad, no-code, social tokens, Liquidity Bootstrapping Curve, LBC, Metaplex, dynamic pricing, Noah Prince, Bryan Zettler, decentralized finance, DeFi, token creation, GameFi, DAO tokens, creator economy, crypto infrastructure, blockchain tools, Multicoin Capital, Solana Ventures, Alameda Research, permissionless protocol