Summary
TLDR: Karak, a restaking layer-2 blockchain solution, has launched its mainnet to simplify economic security through restaking. It aims to address the fragmented crypto-economic security problem in the space and provide universal trust applicable across any software. The team has raised $50 million and plans to make economic security more accessible and affordable for developers on any chain. They are experimenting with ways to reduce liquidity fragmentation across chains.
Key Points
1. A universal restaking layer called Karak, designed by Andalusia Labs team, has launched its mainnet today to simplify the process of providing economic security through restaking.
2. Karak, based in San Francisco and Abu Dhabi, raised $50 million at a $1 billion valuation from investors like Coinbase, Mubadala, Lightspeed, and others to address the fragmented crypto-economic security in the industry.
3. Karak aims to provide a universal layer of trust applicable across any software, enabling developers to access and build on any trust network without being confined exclusively to Ethereum for security measures.