Quick take:
- Fluent Labs is building an Ethereum L2 that blends WebAssembly, EVM and SVM to create an extended execution network.
- The new L2 allows developers to create applications leveraging multiple blockchain ecosystems without compatibility concerns.
- The firm claims that 60 blockchain projects are already building on its ecosystem.
Fluent Labs has raised $8 million in seed and extended funding round led by Polychain Capital. Primitive, dao5, Symbolic Capital, Builder Capital, Nomad Capital, and Public Works also participated in the fundraising.
Balaji Srinivasan, Mustafa Al-Bassam, Jason Yanowitz, Santiago Santos, Dingaling, Cristian Manea, and Will Price were among the angel investors who joined the round.
The company plans to use the funds to accelerate the development of its Ethereum layer-2, which leverages WebAssembly (Wasm), EVM and SVM to create an extended execution network, allowing developers to build apps across different blockchains without facing compatibility issues.
The company will also use the capital to expand its team of core contributors, especially in the engineering department, The Block reported.
Commenting on his firm’s leading role in the fundraising, Polychain Capital General Partner Luke Pearson said in a statement: “Today’s blockchain execution environments are constrained by the VMs they support and their limited functionalities.” Fluent addresses this challenge by letting developers “use the best tools for each task when building applications without worrying about compatibility.”
The network also allows users to access applications from different virtual machine ecosystems in the same place without switching wallets.
Fluent’s pseudonymous co-founder and CEO Dino commented: “What fundamentally transforms user experience is the enablement of true cross-VM composability.”
Comparing the Fluent UX to using a Solidify-based decentralised exchange that supports Solana SPL tokens, thus allowing users to swap ERC-20 tokens and SPL tokens, such a use case alongside many others is possible with blended execution.
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