Strata Protocol- a token launch and management protocol built to make token creation and monetization extremeely easy, has managed to raise $1.5 million in funding from a series round led by Multicoin Capital. The funding will be used to develop no-code tools for permissionless token issuance and management. Permissionless blockchains, also known as trustless or public blockchains. These networks are open networks that are available to everyone to participate in the consensus process that blockchains use to validate transactions and data. They are fully decentralized across unknown parties
On April 5th, The team at Strata announced the participation of Solana Ventures, Starting Line, Alameda Research and Asymmetic Partners as well as the co-founder of Craft Ventures, Bill Lee,Chris McCan of Race Capital, Saurabh Sharma of Jump Crypto, the founders of Audius Ronel Rumburg and Forrest Browning, and finally Tristan Yver of FTX.
The funds will be used to grow and scale the Strata protocol and the co-founder of Strata ,Noah Prince, expressed his excitement in a statement:
I’m super excited to see what people build on top of it. I think gamefi will be one of the biggest use cases. A plug-and-play protocol to quickly launch your token will enable a lot of smaller companies in the GameFi space
Redacted Noah as he is known on twitter went on to announce that the Strata Protocol has also created a launchpad at the recently concluded Riptide Hackathon. Available to everyone the launchpad will provide for the creation, selling, and trade of tokens that can also be used to raise money for a cause or aid in the creation of Dynamic Pricing or NFT mints. The launchpad is touted as being the Wix or Shopify of token creation, Wumbo a web3 application that allows for users to easily mint, buy, or sell social tokens and directly trade inside of Twitter is the first application built upon the Strata protocol, it is also a Chrome extension.
Strata is Solana mainnet and entirely open-source and has been touted as teh fastest and easiest way to get social tokens into the hands of fans as stated upon a Mar.2022 SlowMist protocol audit. The tokenized economies created by Strata that are centered on a person, project, or collective can begin trading on day one using a liquidity bootstrapping curve and automated markets. Strata also provides SDKs for instantly launching tokens without needing prior coding experience with Solana or Rust.