LayerBank completes $2.3 million financing, ULAB token is coming

2025-12-05 12:34:15

Abstract generation in progress

[BlockBeats] There was a noteworthy piece of news in early December—a DeFi platform called LayerBank secured $2.3 million in pre-seed funding. The lineup of investors is quite interesting, including Move Industries CEO Torab Torabi, the Coin Bureau Chinese team, institutions like DVchain, as well as Taiko and Rootstock, along with a group of angel investors.

This funding will mainly be used for two things. First, to develop and launch their native token, ULAB. The design of this token is quite sophisticated—it uses a ve (vote-escrow) model for rewards, transaction fees are returned to users, and there’s an ongoing buyback and lock-up mechanism. Essentially, from the very beginning, the interests of the users and the platform are tied together.

The other portion of the funds will go toward product iteration. Their goal is to make DeFi tools more user-friendly—a simpler interface, higher automation, enabling regular users to easily utilize complex yield strategies. After all, many current DeFi products are still too unfriendly for newcomers.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

11 Likes

Reward
11
6
Repost
Share

Comment

0/400

FarmToRiches

· 12-05 15:04

Another ve model is here... But the fee rebate part is indeed attractive. The key is whether ULAB's launch price can hold up.

View OriginalReply0

ChainMelonWatcher

· 12-05 13:04

The ve model is back again. Whether it will benefit the grassroots users this time still depends on how it’s implemented going forward.

View OriginalReply0

Deconstructionist

· 12-05 13:00

The ve model is back again. Can we avoid turning it into another worthless token this time?

View OriginalReply0

GasFeePhobia

· 12-05 12:52

Another ve model is coming again. Can we not get rekt this time... Taiko and Rootstock have both joined in, at least the endorsements are decent. As long as ULAB can actually deliver, just don’t let it become another shitcoin.

View OriginalReply0

FUD_Vaccinated

· 12-05 12:41

Is the ve model making a comeback? This strategy has been used so many times—how many people will actually HODL...

View OriginalReply0

SybilSlayer

· 12-05 12:41

It's the same old routine of fundraising and issuing tokens. Let's see if ULAB can survive its first month after going live.

View OriginalReply0