The Ethereum dynamic storage expansion project EthStorage has completed a $7 million financing at a valuation of $100 million

ChainCatcher news, the Ethereum Layer 2 network data storage solution project EthStorage has completed a $7 million seed round financing with a valuation of $100 million. This round of financing was led by dao5, with participation from SevenX Ventures, Foresight Ventures, DragonRoark, Yunjiu Capital, Avant Blockchain Capital, Future Money Group, Gate Ventures, Vitalbridge, Galxe, GeekCartel, Rebase D. Ventures, W3.Hitchhiker, and other angel investors.

EthStorage is a Layer 2 solution that provides programmable dynamic data storage based on Ethereum data availability technology. The team has received funding from the Ethereum Foundation's Ecosystem Support Program (ESP) twice, for research on data availability sampling and research on dynamic data storage proofs for Layer 2 networks. Additionally, it won first place in the Super Demo event at the Ethereum Developer Conference (EDCON) held in Montenegro in 2023. All financing funds will be used to expand the team, support research, develop products, enhance the brand, and attract more ecosystem partners to use EthStorage.