Crypto infrastructure platform Conduit announces $37 million Series A funding led by Paradigm and Haun Ventures

Conduit, an encryption infrastructure platform, announced the successful completion of a $37 million Series A financing led by Paradigm and Haun Ventures, including participation from Bankless Ventures, Coinbase Ventures, etc.

It is reported that since its launch, Conduit has helped teams such as Degen and Proof of Play build their first Layer 3.

The founder of Conduit hopes to make on-chain computing as accessible as cloud computing so that cryptocurrency developers can build without restrictions.

The Conduit team said: "DeFi protocols, game companies, NFT platforms and other on-chain providers can use Conduit to quickly and easily expand their applications, provide a better user experience and unlock new use cases that were previously unattainable due to network congestion."

Conduit releases Degen Chain downtime incident report: Alerts and monitoring of Orbit chain have been improved

According to ChainCatcher, Conduit released a post-mortem analysis report on the previous downtime of Degen Chain. On May 10, Conduit increased the batch size of Degen and Proof of Play Apex to 10MB to reduce costs, which delayed the time for data to be published in batches from these networks to their parent chains. On May 12, this configuration was restored to fix the batch release. This led to a reorganization on both networks because the batch was released after the 24-hour mandatory inclusion window. Arbitrum Nitro will insert any inbox messages before any transactions in the batch and replay these transactions with a new timestamp.

After the reorganization, the node came back with a corrupted database because its depth was not well handled by geth. This required resynchronizing the data directory from genesis. The sync time for each network was over 40 hours, with a replay rate of about 100M gas/s. Once the node was resynchronized, Conduit tried various transaction replay schemes, although not all transactions were able to be recovered because some transactions relied on accurate timestamps.

In consultation with each rollup team, Conduit discussed and tried various strategies in parallel to bring the network online and restore the state before the reorganization. The Degen Chain network was restored after being paralyzed for 54 hours. Proof of Play's Apex chain was restored at about the same time, but was not available to the public until another recovery scheme was implemented afterwards.

Conduit claims that it has improved alerting and monitoring of the Orbit chain to cover this situation and is committed to working with Offchain Labs to improve observability for all Orbit chain operators. The team will continue to invest and research mechanisms to better simulate mainnet conditions and transaction payloads in a test environment. Degen Chain Explorer has been displaying the latest status of Degen Chain normally.

According to RootData, a Web3 encrypted asset data platform, Conduit completed a $7 million seed round of financing in March last year, led by Paradigm.

In addition, Conduit also announced a partnership with the Optimism Foundation to help support Optimism's superchain vision and contribute to the Optimism builder community. According to the agreement, Conduit enables builders to launch their own OP Stack rollups and include them in the superchain.

Conduit provides rollup hosting services

Conduit provides rollup hosting services, providing automatic updates for OP Stack and upgrades for Superchain. The team also handles roadmap feedback and custom support SLAs to ensure that users successfully deploy rollups.

What is Conduit

Conduit is a crypto-native infrastructure platform designed to empower and accelerate builders in the crypto space. Its first product allows teams to launch production-grade Rollups based on OP Stack in a very short time, thereby expanding their application performance by 100 times. Application-specific Rollups on Conduit are launched, maintained, and scaled by infrastructure professionals so that teams can focus on what matters most: building products that users love.