The Bitcoin ecosystem AVS platform Pell Network has completed a $3 million Pre-Seed round of financing, led by Halo Capital and others

reports that the Bitcoin ecosystem AVS platform Pell Network has announced the completion of a $3 million Pre-Seed funding round. This round was co-led by Halo Capital, Mirana Ventures, and Paper Ventures, with participation from ArkStream Capital, Caliber Venture Builder, Cogitent Ventures, and Contribution Capital.

It is reported that Pell Network is a fully-chain, composable, adaptive decentralized verification service network based on re-staking technology. With the completion of the funding, Pell Network's testnet has officially launched.

According to RootData, Pell Network aims to create a decentralized token economy security leasing platform for the Bitcoin ecosystem. By building a network that aggregates native BTC stake and LSD re-staking services, it allows stake holders to choose verification for new software modules built on the Pell Network ecosystem.