PANews reported on December 13 that according to IBTimes, the smart contract platform Waterfall Network announced the completion of a new round of financing of US$11.6 million, with participation from Bolt's Capital, Alpha Token Capital and Enflux, providing it with funds to advance its research and development. The new funds will be used to strengthen the platform's infrastructure, simplify nodes and make further improvements.

According to reports, Waterfall Protocol was launched in July 2024. It is a Layer 1, scalable, decentralized smart contract platform developed by software development company BlueWave based on DAG technology and fast final PoS consensus. It is designed for the development of Dapps and aims to provide scalability, security and a truly decentralized governance platform while being compatible with the Ethereum Virtual Machine (EVM).