Former Fidelity Executive Joins DeFi Scaling Network Layer N Advisory Board

Table of Contents

• Luc Froehlich Provides Expertise on Regulated Digital Assets
• Layer N Nord Roll-up Achieves High Throughput in Testing
• Layer N Raises $5 Million to Expand Ethereum Scaling Solution

Luc Froehlich Provides Expertise on Regulated Digital Assets

Layer N, a roll-up network focused on scaling financial applications on Ethereum, has added Luc Froehlich to its advisory board. Froehlich brings over seven years of experience exploring cryptocurrencies and tokenized assets at Fidelity International, where he was most recently the global head of digital asset solutions.

In this role, Froehlich praised Layer N for its approach of addressing fragmentation in financial technologies. He noted the network’s use of customizable virtual machines that enable applications to communicate and share liquidity as a benefit. Layer N utilizes zero-knowledge proofs for transaction confidentiality, which Froehlich said addresses regulatory and competition concerns while still ensuring privacy.

As an advisor, Froehlich will provide Layer N with expertise on regulated digital assets. His background at Fidelity International exploring the institutional adoption of cryptocurrencies will be valuable as Layer N works to launch its Nord roll-up for decentralized exchanges (DEX) on Ethereum.

Layer N Nord Roll-up Achieves High Throughput in Testing

Layer N plans to launch a public testnet for its Nord roll-up engine, which is specialized for DEX applications. In closed testnet trials, the Nord Engine achieved throughput of 120,000 transactions per second at peak levels and sustained 20,000 transactions per second over an extended period, demonstrating its ability to provide high throughput with low latency for DEX users.

The Layer N mainnet launch is scheduled for later this month. CEO Dima Romanov tweeted that the network envisions multiple optimized roll-ups, including an Ethereum Virtual Machine compatible version that would enable any smart contract to be deployed. This would allow developers to natively integrate applications and build directly on DEXs using Layer N’s infrastructure.

Layer N Raises $5 Million to Expand Ethereum Scaling Solution

In September 2023, Layer N secured $5 million in seed funding led by Founders Fund. Other investors included dao5, Kraken Ventures, Mirana Ventures, GSR, and Amber Group. This capital will be used to continue developing the Layer N protocol and expanding its team.

Layer N is also expanding its presence in Asia through a strategic investment from BlackPine and a partnership with VSFG. This will help Layer N strengthen its Web3 ecosystem in the high-growth Asian markets.

Through its specialized roll-up architectures like Nord and optimized storage technique EigenDA, Layer N aims to provide developers and DEX users with low cost, high performance Ethereum scaling. The addition of Luc Froehlich to the advisory board signals Layer N’s commitment to integrating regulated digital assets and institutional needs into its DeFi network.

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