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Skip raises $6.5m in seed round led by Bain Capital Crypto

Skip Protocol (Skip) has raised $6.5 million in a seed funding round led by Bain Capital Crypto to support its development of a platform to bring the multi-billion dollar market for transaction prioritisation, reordering, and bundling (often known as “Miner Extractable Value” or “MEV”) to the Cosmos blockchain ecosystem and other fast-emerging proof-of-stake ecosystems. 

Jump Crypto, Galaxy, Robot Ventures, Lightspeed Faction, IEX Group, Informal Systems, Sommelier Cofounder Zaki Manian, Celestia Chief Operating Officer Nick White, and JUNO Cofounder Jake Hartnell, among others, also participated in the round.

Founded in 2022 by veteran software developers Barry Plunkett and Maghnus Mareneck, Skip’s platform allows users and traders to pay for transaction prioritisation and privacy in a sealed-bid auction with the goal of democratising access to MEV opportunities and profits. Skip’s infrastructure is designed to share MEV profits to validators, stakers, and protocols, while making it easier for traders to execute their strategies. It also protects users from gas wars, transaction spam, frontrunning and sandwich attacks, and other downsides of toxic MEV extraction.

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