LayerBank completes $2.3 million financing, cross-chain lending protocol to launch token

2025-12-05 12:40:17

[Crypto World] LayerBank, the cross-chain lending protocol, recently secured $2.3 million in pre-seed round funding. The investor lineup is pretty interesting—led by Move Industries CEO Torab Torabi, along with Coin Bureau Chinese, DVchain, Taiko, Rootstock, plus a group of angel investors and ecosystem players.

Most of the funds will be invested in the development of their native token, ULAB. According to the team, this token will serve as the core of the platform’s value capture and incentive mechanism. The token generation event (TGE) is planned to take place on Movement Network.

Currently, LayerBank supports 17 chains and runs over 150 markets. In essence, what they’re trying to do is—through chain abstraction technology—let users enjoy a smoother experience when lending and yield farming across different chains. This “one-stop money market” approach is quite interesting, especially now that multichain liquidity is becoming increasingly fragmented.

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DaisyUnicorn

· 19h ago

Cross-chain lending is about to issue tokens again. How many seasons can this flower bloom... 17 chains and over 150 markets—it sounds impressive, but I wonder if ULAB will eventually become the unicorn of virtual assets 🌼

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PessimisticLayer

· 19h ago

Another token launch and fundraising story, 2.3 million isn’t that impressive. Everyone’s heading to the Movement Network TGE. Will retail investors avoid getting wrecked this time? Taiko and Rootstock backing it? I think this token needs strong support to survive. 17 chains, 150 markets—it sounds impressive, but what about actual users? These cross-chain projects all have similar schemes to fleece retail investors. Let’s wait and see.

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alpha_leaker

· 19h ago

Another fundraising news, I just want to ask if ULAB's launch price can hold.

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NFTArchaeologis

· 19h ago

I've heard a lot about chain abstraction, but there are very few that can actually coordinate liquidity across chains. The ULAB story depends on future execution. Their list of investors is impressive, but endorsements from ecosystem players and technical reliability are two different things.

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MetadataExplorer

· 19h ago

Another cross-chain project is about to launch a token. I’m all too familiar with this routine... 2.3 million in funding is just so-so; the main thing is whether ULAB can hold up after going live.

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PanicSeller69

· 19h ago

Another cross-chain lending protocol is about to launch a token. I know this routine by heart now.

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MultiSigFailMaster

· 19h ago

Same old story: raise funds, issue tokens, then dump on retail investors. It's really getting tiresome to watch.

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