February 12, 2025
Cabal, a governance-focused protocol built on Initia’s Layer 1 blockchain, has secured $3 million in seed funding. The round was backed by Hack VC, Delphi Ventures, and Nascent, along with contributions from individual investors in the blockchain sector.
Operating within Initia’s ecosystem, Cabal enables users to deposit INIT tokens and Enshrined Liquidity positions in exchange for liquid, yield-bearing assets. These deposits contribute to governance power within Initia’s VIP rewards system, where rollup projects can direct incentives to participants. By leveraging this system, Cabal aligns governance influence with liquidity management while creating an incentive structure for rollup adoption.
About Cabal
Cabal is a governance protocol on Initia’s Layer 1, allowing users to stake INIT tokens and liquidity positions for liquid assets while influencing governance power. Rollup projects compete within the ecosystem to direct VIP incentives.
Website: https://thecabal.xyz/ X: @CabalVIP
About Investors
Hack VC
Hack VC is a venture capital firm focused on early-stage blockchain and decentralized finance investments. The firm supports projects developing financial infrastructure and crypto applications.
Location: San Francisco, California Website: https://www.hack.vc/
Delphi Ventures
Delphi Ventures is the investment division of Delphi Digital, a research-driven firm that funds blockchain projects in areas such as DeFi, governance, and gaming.
Location: San Mateo, California Website: https://delphiventures.io/
Nascent
Nascent is an investment and incubation firm specializing in early-stage crypto and blockchain ventures, with a focus on decentralized finance and infrastructure.
Location: San Francisco, California
Website: https://www.nascent.xyz/ A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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