EIN News — New York, NY, July 03, 2024 (GLOBE NEWSWIRE) — Nycrypto Labs, a blockchain development hub dedicated to simplifying the transition from Web2 to Web3, announced today that it has raised $800,000 in pre-seed funding. The round was led by DNA Fund, with participation from Michael Terpin’s Transform Ventures and a host of renowned angel investors. This funding milestone coincides with the launch of Nycrypto’s flagship product, Tidus Wallet – the only multi-chain wallet that enables lending, borrowing, and staking cross-chain without leaving the app.
KEY POINTS
- Tidus is Nycrypto Labs’ flagship product that enables users to transact in lending, borrowing and cross-chain staking
- The wallet has a multi-chain compatibility feature that reduces the potential risk for click fraud
- Tidus packs in one app the vital principles for a crypto project: accessibility, decentralization and security, said founder Dan Mulligan
As an intuitive, non-custodial wallet available for both desktop and mobile, Tidus Wallet extends blockchain and DeFi accessibility to millions who have been hesitant to explore Web3 due to its steep learning curve and perceived security risks. Available in both the iPhone and Android stores, Tidus features multi-chain compatibility, which can reduce potential risk for click fraud. Other features include decentralized security and privacy, educational resources, and native Dapp integrations, making Tidus a one-stop-shop for all of a user’s DeFi needs.
Three fundamental principles are vital for any crypto project: accessibility, decentralization and security”
said Nycrypto Labs and Tidus founder Dan Mulligan.
“Many platforms only focus on one principle, like accessibility, at the expense of decentralization and security––and without decentralization security is often compromised. Tidus and TidusDAO blend these principles seamlessly while simultaneously rewarding users for using the product.”
Tidus is poised to revolutionize the blockchain landscape as a multi-chain, non-custodial wallet, empowering users with unparalleled control and security over their digital assets. With a mobile-first approach, Tidus ensures that every function—from swapping to staking—can be performed with just a few clicks through an intuitive UI. Tidus also supports a wide array of blockchain networks, including Ethereum, Solana, Base, TON, Optimism, Arbitrum, Polygon, and Bitcoin, making it a versatile and indispensable tool for both novice and experienced users.
Tidus Wallet mitigates the risks associated with bridging – the process of transferring assets between different blockchain networks – which typically involves using intermediary protocols or platforms to convert tokens. Bridging often requires multiple steps and can introduce security risks, higher fees, and added complexity, which is particularly problematic for beginner traders. By eliminating the need for bridging, Tidus Wallet offers a much more secure and streamlined user experience, reducing transaction fees and helping users navigate the Web3 landscape with confidence.
About Nycrypto Labs
Nycrypto Labs was founded in 2022 to build easily accessible decentralized products. As its first product, Tidus Wallet is a game-changing, decentralized wallet offering a multi-chain, non-custodial platform that empowers users with unparalleled control and security over their digital assets. The Tidus Wallet is governed byTidusDAO, a new standard in DAO governance with its Roman rules framework, blending historical governance structures with cutting-edge blockchain technology. For more information, visit tiduswallet.com and tidusdao.com.
Disclaimer: This press release is for informational purposes only and does not constitute investment advice or an offer to invest.
