Pell Network Has Raised $3 Million in Pre-Seed Funding to Build an Omnichain DVS Network

2 min readOct 15, 2024

We are excited to announce the successful completion of our pre-seed funding round, raising $3 million to develop an omnichain, composable, adaptive Decentralized Validation Services (DVS) Network powered by restaking.
This round was co-led by prominent investors Paper Ventures, Halo Capital, and Mirana Ventures, with participation from ArkStream Capital, Caliber Venture Builder, Cogitent Ventures, Contribution Capital, Delta Blockchain Fund, D11-Labs, J17 Capital, Mantle EcoFund, Sats Ventures, Side Door Ventures, Web3Port, 071Labs and other angel investors.

What Our Investors Say

Oliver Blakey, co-founder of Paper Ventures, said: “Pell’s vision for a universal trust network aligns perfectly with the evolving needs of BTCFi users. We are excited to support their journey in addressing critical challenges and unlocking fresh possibilities for Bitcoin-based DeFi.”

What Is Pell Network

Pell Network is an omnichain, composable, adaptive Decentralized Validation Services (DVS) Network. By leveraging the restaking mechanism of LST (Liquid Staking Tokens), Pell eliminates the barriers between all siloed blockchains. Our modular components — Restaking Layer, Pell Chain, and Service Layer — together forge a robust cryptoeconomic security marketplace.

Pell Network’s innovation lies in its omnichain architecture for cryptoeconomic security network. By intelligently bridging funding sources (Restaking Layer) with decentralized validation services (Pell Chain), we deliver robust, secure, and adaptable services through our Service Layer. This precise alignment of capital, assets, and consumers optimizes resource allocation and maximizes returns.

Pell’s Mission

This innovative network enables protocols to access efficient, cost-effective, and transparent cryptoeconomic security across all blockchains. Simultaneously, it provides stakers and validators with real economic incentives, fostering the long-term sustainability of the entire ecosystem.

Pell Network is redefining the landscape for cross-chain application building and bootstrapping. Developers can now rely on DVS networks underpinned by tangible economic incentives, marking a paradigm shift from traditional trust-based systems to quantifiable, auditable economic security models.

Product Market Fit from Day One

• Omnichain deployment on almost 20 chains including BNB Smart Chain, Core, Babylon, Bitlayer, BOB, BounceBit, Merlin, B² Network, BEVM, AILayer, Rootstock, Ethereum, Mantle, Scroll, Base, Arbitrum One, ZKsync Era, IoTeX and more.

• $300M+ TVL and 430K+ stakers across Pell’s Omnichain Restaking Network

Start Your Journey with Pell

Pell Testnet launched on 15 October: https://app.pell.network/
50 Million Pell Points Airdrop Campaign with Satoshi App: https://pell.satoshiapp.xyz/
GoldMiner Campaign : Finish tasks to earn up to 1 BTCB + 11 BNB raffle and 30% Yield: https://app.pell.network/gold-miner
Early testnet participants are eligible for generous incentives. Stay tuned!

Written with 💙 from Pell

Learn more about Pell Network: https://pell.network/

Join Pell Discord: https://discord.com/invite/pell-network