Nomad Scores $22.4 Million Seed Round

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; Nomad&comma; a security-first cross-chain messaging protocol&comma; announced crypto industry giants Coinbase Ventures&comma; OpenSea&comma; Crypto&period;com Capital&comma; Wintermute&comma; Gnosis&comma; Algaé&comma; and Polygon as participants in their April 2022 &dollar;22&period;4 million seed round&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Because Nomad provides a trust-minimized protocol for cross-chain messaging&comma; there are potential applications that go well beyond just token bridging&comma;” said Anurag Arjun&comma; co-founder of Polygon&period; &OpenCurlyDoubleQuote;We look forward to seeing some of those exciting new use cases come to life on-chain&period;”<&sol;p>&NewLine;<p>Nomad’s primary goal is to create a safer crypto ecosystem where blockchains can communicate seamlessly and securely with each other&period; With more than &dollar;1&period;5 billion stolen this year by hackers exposing vulnerabilities in cross-chain bridges&comma; the industry is in need of security-first solutions that maximize the safety of users&comma; funds&comma; and messages&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Nomad’s optimistic security model is the gold standard for trust-minimized cross-chain communication&comma;” said Pranay Mohan&comma; CEO and co-founder of Nomad&period; &OpenCurlyDoubleQuote;Our team is comprised of some of the most renowned experts in the interoperability space&comma; and their work is bringing us closer to a world where cross-chain communication can be done securely and cost-efficiently&period;”<&sol;p>&NewLine;<p>Secure cross-chain messaging is key to uniting DeFi ecosystems and unlocking the true power and potential of blockspace across chains&period; Nomad’s protocol is tackling this head-on&comma; utilizing optimistic verification to provide a high level of security that allows watchers to challenge messages via on-chain fraud proofs&comma; without relying on custodians or validators&period; Unlike validator-based cross-chain bridges&comma; Nomad only requires a single honest watcher to keep the entire system safe&period;<&sol;p>&NewLine;<p>To date&comma; Nomad has facilitated nearly &dollar;700M in total transaction volume for more than 14&comma;000 unique users&period;<&sol;p>&NewLine;