Lava Foundation is building a modular blockchain network and is currently operating in a testnet phase. The project runs a Magma program that rewards users with points. The foundation completed an $11M financing to support development. Participating backers include Animoca Brands, Gate.io Ventures, CoinGecko Ventures, Polygon co‑founder Sandeep Nailwal, Ash Crypto, CryptoLark, Crypto Times Japan, Le Journal Du Coin and The Rollup. Lava plans a mainnet launch and a token airdrop in the first half of 2024. The funding is positioned to help advance the network toward that launch and user incentives.

Total raised

$11M

Funding rounds

1

Latest round

Equity

Latest activity

May 2024