September 20, 2024
PayPal Ventures, the venture capital division of PayPal, has announced an additional investment in Chaos Labs, a leader in onchain risk management. This move highlights PayPal Ventures’ confidence in Chaos Labs’ potential and their blockchain products. Chaos Labs recently launched Edge, a new decentralized oracle protocol that has attracted significant industry attention. In just two months, Edge has secured $30 billion and has been adopted by top exchanges like Jupiter on Solana and GMX on Arbitrum.
Project | Latest Raise Date | Lead Investor | Category |
|---|---|---|---|
Chaos Labs | September 20, 2024 | PayPal Ventures | Infrastructure |
Edge provides a comprehensive, low-latency oracle solution that combines accurate price data with actionable market intelligence. Its advanced architecture enhances the security and efficiency of DeFi applications while offering insights into market dynamics and security risks. Edge monitors the market for specific risk signals, processes offchain data, and outputs a single actionable data point.
Omer Goldberg, CEO and Founder of Chaos Labs, expressed excitement about the additional support from PayPal Ventures. He noted that Edge represents the culmination of the company’s work and expertise, delivering unmatched contextualized risk and price data for various assets, including stablecoins and other real-world assets.
Last month, Chaos Labs announced a $55 million Series A funding round led by Haun Ventures, with new investors like F-Prime Capital, Slow Ventures, and Spartan Capital, along with existing investors including PayPal Ventures. Chaos Labs has seen significant growth, tripling its customer base and securing billions in trading volume, loans, and incentives.
PayPal Ventures’ investment aligns with PayPal’s commitment to the blockchain ecosystem. In May 2024, PayPal launched its stablecoin, PYUSD, on the Solana blockchain.
Amman Bhasin, Partner at PayPal Ventures, stated that their continued investment in Chaos Labs reflects their belief in the company’s vision to create a safer crypto ecosystem and move more financial services onchain. Chaos Labs has become a leading risk authority in the sector, and PayPal Ventures is excited to see their evolution with innovative products like Edge.
Chaos Labs will receive the total investment in PYUSD on-chain, with a live simulation to be shown at the annual Solana Breakpoint conference in Singapore on September 20th.
About Chaos Labs
Chaos Labs, founded in early 2022 by a team of ex-FAANG engineers, is a New York City-based cloud platform dedicated to securing blockchain protocols. The company specializes in on-chain risk management, economic security, and incentive optimization. By leveraging sophisticated data analytics, modeling, and simulations, Chaos Labs automates real-time protocol parameter recommendations. Their technology helps decentralized finance (DeFi) protocols, such as Aave, GMX, and Jupiter, identify vulnerabilities and prevent exploits. With a mission to bridge traditional finance and digital assets, Chaos Labs aims to provide a safer operating environment for crypto protocols, ensuring resilience against market volatility and economic manipulation.
Website: https://chaoslabs.xyz/
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About Investor
Investor: PayPal Ventures
PayPal Ventures is the venture capital arm of PayPal, focused on investing in innovative companies within the fintech, payments, commerce enablement, artificial intelligence, blockchain, and regulatory technology sectors. Their mission is to accelerate the development of transformative solutions by providing startups with the necessary capital, resources, and industry expertise. By leveraging PayPal’s extensive network and experience, PayPal Ventures helps these companies grow and succeed, ultimately bringing cutting-edge technologies to market more quickly.
Location: San Jose, CA
Website: https://paypal.vc/home/default.aspx
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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