Nycrypto Labs secures 800k funding to debut Tidus a comprehensive cryptocurrency application
A pioneering development in blockchain technology has emerged with the unveiling of Tidus Wallet, the inaugural multi-chain, multi-layer non-custodial wallet integrating in-app lending, borrowing, swapping, and staking, designed to mitigate bridging risks.
Nycrypto Labs, a leading blockchain development hub dedicated to advancing the transition from Web2 to Web3, announced a significant milestone with the successful securing of $800,000 in pre-seed funding. This achievement aligns perfectly with the launch of their flagship product, Tidus Wallet. Positioned as the premier multi-chain wallet, Tidus Wallet facilitates cross-chain lending, borrowing, and staking directly within its interface.
Leading the funding round was DNA Fund, accompanied by Transform Ventures under the guidance of Michael Terpin, alongside a consortium of distinguished angel investors.
Tidus Wallet addresses the inherent risks associated with bridging, the process of transferring assets across different blockchain networks. Traditionally, bridging involves intermediary protocols or platforms to facilitate token conversion, which can introduce security vulnerabilities, increased fees, and complexity, especially daunting for novice traders.
By eliminating the need for traditional bridging, Tidus Wallet delivers enhanced security and a streamlined user experience, reducing transaction costs and empowering users to navigate the Web3 ecosystem confidently.
Tidus Wallet boasts multi-chain compatibility, enhancing security through decentralized architecture, and ensuring user privacy. It offers educational resources and seamless integration with native Dapps, presenting a holistic solution for all DeFi needs.
This wallet significantly broadens blockchain and DeFi accessibility, simplifying engagement with Web3 for millions while addressing the learning curve and security concerns. Available as a non-custodial application for desktop and mobile platforms, Tidus Wallet can be found on both iPhone and Android app stores.
Dan Mulligan, founder of Nycrypto Labs and Tidus, highlighted the core principles guiding the project: accessibility, decentralization, and security. Emphasizing that these principles are interdependent, he underscored Tidus and TidusDAO’s commitment to integrating them seamlessly, while also rewarding user participation.
Tidus Wallet supports a diverse array of networks including Ethereum, Solana, Base, TON, Optimism, Arbitrum, Polygon, and Bitcoin, making it a versatile tool tailored to meet the needs of a broad user base.
