Plume Network Secures $10M in Seed Funding from Haun Ventures, Galaxy Ventures and Others
Plume hosts over 80 RWA projects spanning collectibles, alternative assets, synthetics, luxury goods, real estate, DeFi and more, all built on the network.
San Francisco, CA; May 23, 2024 | Plume , the first modular Layer-2 EVM built to bring any real-world asset (RWA) to the blockchain, announces its $10M seed round led by Haun Ventures with participation from Galaxy Ventures, Superscrypt, A Capital, SV Angel, Portal Ventures, Reciprocal Ventures, and others. Notable angels include founders and executives of leading projects such as Anthony Ramirez of Wormhole Labs, Calvin Liu of Eigenlayer, Zon of Initia, Andrew Kang of Mechanism, Jeff Feng and Jayendra Jog of Sei Network, Adam Lawrence of rwa.xyz, Austin King and Tyler Tarsi of Omni, Martin Quensel of Centrifuge, among others.
The RWA (real world assets) industry is one of the fastest-growing verticals in crypto today, but a critical gap remains – to date there has not been a restriction-free blockchain equipped with full-stack RWA infrastructure to deploy any asset class in a compliant manner. Plume was founded to solve this challenge of real-world asset integration, providing the infrastructure necessary for traditional financial participants to participate, while offering innovative products that appeal to the crypto-native community. By integrating asset tokenization and compliance on-chain, along with RWA-specific chain-level modifications, Plume simplifies the deployment process and offers a dynamic ecosystem for cross-investment and diversification. Plume’s robust DeFi ecosystem allows users to do everything with RWAs, from earning yield, borrowing/lending, trading, and speculating with leverage.
On testnet alone, Plume has already seen rapid growth with over 80 RWA and DeFi projects building on its private testnet with everything from collectibles, alts, synthetics, luxury goods, real estate, lending protocols, perpetual DEXs, and more.
Chris Yin, CEO and co-founder of Plume , stated: “ We are thrilled to have Haun Ventures lead our round as our approach to RWAs represents a fundamental shift. While many are trying to solve tokenization through permissioned environments, Plume sets itself apart by prioritizing a crypto-first approach. We operate as a constrained chain, offering seamless compliance tools as a notable feature. Our modular EVM-based L2 and end-to-end tokenization engine make both onboarding and interacting with assets and capital easy for everyone from the largest institutions to retail.”
Chris Ahn, Partner at Haun Ventures, said: “The Plume team’s vision for tokenizing assets goes beyond tokenizing treasury bills. The Plume Network provides custom tools and an ecosystem designed specifically for RWAs of any kind. Plume will reshape the way the world interacts with and derives value from real-world assets.”
The Plume team features top-tier talent from Web3 and traditional finance who joined from leading firms such as Coinbase, Binance, Robinhood Crypto, dYdX, JP Morgan, and LayerZero.
Teddy Pornprinya, co-founder of Plume, formerly of Coinbase Ventures and Binance, said: “The traditional view of tokenized real-world assets is no longer interesting in today’s markets; what people are looking for today are crypto use cases involving RWA. Plume makes it easy to trade, yield, and speculate on any real-world asset so people can benefit from both the upside of crypto and exposure to RWA.”
To learn more about Plume, visit their website and stay tuned for incentivized testnet details coming soon: https://www.plumenetwork.xyz/
About Plume
Plume is the first dedicated modular L2 EVM blockchain for all real-world assets (RWAs) that integrates asset tokenization and compliance providers directly on the blockchain. Plume’s mission is to simplify the convoluted processes of deploying RWA projects and offer investors a blockchain ecosystem to cross-pollinate and invest in multiple RWAs. Additionally, Plume enables RWA composability across its thriving DeFi applications and provides access to high-quality buyers to increase liquidity for all tokenized RWAs. To learn more about Plume, please visit: