Nycrypto Labs Secures $800K in Pre-Seed Funding to Launch Tidus Wallet

Nycrypto Labs, a blockchain development hub dedicated to simplifying the transition from Web2 to Web3, has announced that it has secured $800,000 in pre-seed funding. The funding round was led by DNA Fund, with participation from Michael Terpin’s Transform Ventures and other renowned angel investors. This significant financial milestone coincides with the launch of Nycrypto’s flagship product, the Tidus Wallet, a multi-chain wallet that enables lending, borrowing, and staking across different blockchain networks without needing to leave the application.

Tidus Wallet, an intuitive, non-custodial wallet available for both desktop and mobile devices, aims to extend blockchain and DeFi accessibility to millions of users who have been hesitant to explore Web3 due to its steep learning curve and perceived security risks. Available in both the iPhone and Android stores, Tidus Wallet features multi-chain compatibility, reducing potential risks for click fraud. Other features include decentralized security and privacy, educational resources, and native Dapp integrations, positioning Tidus as a comprehensive solution for users' DeFi needs.

“Three fundamental principles are vital for any crypto project: accessibility, decentralization, and security,” said Dan Mulligan, founder of Nycrypto Labs and Tidus. “Many platforms only focus on one principle, like accessibility, at the expense of decentralization and security. Without decentralization, security is often compromised. Tidus and TidusDAO blend these principles seamlessly while simultaneously rewarding users for using the product.”

Tidus Wallet is poised to revolutionize the blockchain landscape as a multi-chain, non-custodial wallet, empowering users with unparalleled control and security over their digital assets. With a mobile-first approach, Tidus ensures that every function—from swapping to staking—can be performed with just a few clicks through an intuitive user interface. Tidus also supports a wide array of blockchain networks, including Ethereum, Solana, Base, TON, Optimism, Arbitrum, Polygon, and Bitcoin, making it a versatile and indispensable tool for both novice and experienced users.

One of the standout features of the Tidus Wallet is its ability to mitigate the risks associated with bridging—the process of transferring assets between different blockchain networks. Typically, bridging involves using intermediary protocols or platforms to convert tokens, which requires multiple steps and can introduce security risks, higher fees, and added complexity, particularly for beginner traders. By eliminating the need for bridging, Tidus Wallet offers a much more secure and streamlined user experience, reducing transaction fees and helping users navigate the Web3 landscape with confidence.

For more information, visit tiduswallet.com and tidusdao.com. The Tidus Wallet is available for download on Google Play, Apple's App Store, and the Chrome Web Store.