PANews reported on December 12 that according to official news, the DeFi protocol Spicenet announced the completion of a US$3.4 million seed round of financing, led by Hack VC and Magnus Capital, with participation from TPC Ventures, Public Works, WAGMI Ventures, DoraHacks, P-OPS Team, The Rollup Ventures, and multiple angel investors.

According to reports, Spicenet is a unified and composable liquidity layer, and its underlying technology is Celestia. The protocol integrates solutions and market makers into one network and allows two forms of liquidity to be provided from other chains without bridging assets to Spicenet. Its unified margin system improves capital efficiency. Spicenet is about to launch its private testnet, and the final bug fix is in progress.