DePIN asset re-staking protocol Parasail completes $4 million seed round financing, led by Protocol Labs.

ChainCatcher news reports that the DePIN asset re-staking protocol Parasail has announced the completion of a $4 million seed round financing, with a valuation of $50 million. This seed round was led by Protocol Labs, with participation from D11 Labs, MH Ventures, BitRise Capital, EV3, Fenbushi Capital, Modular Capital, Faculty Group, DWF Ventures, Foresight Ventures, AGE Crypto, Waterdrip Capital, and others.

According to the Parasail team, the funds raised will be used to accelerate the realization of various product features in the Parasail Master Plan, which aims to aggregate assets and hardware on DePIN, provide service level guarantees for users, and dynamically coordinate hardware resources based on demand. It is reported that Parasail's TVL exceeds $50 million.

In addition to ensuring the security of hardware services through asset delegation, Parasail is building a universal adapter for hardware service provision and verification, enabling the flexible use and circulation of universal hardware resources (such as GPUs, storage, sensors, etc.) across different DePIN ecosystems. With the help of the Parasail protocol, DePIN projects can systematically and efficiently establish their networks and mobilize hardware resources.

According to the Web3 asset data platform RootData, Parasail is a re-staking protocol for DePIN assets. It aims to improve the efficiency of DePIN token locking, eliminate specific risks among DePIN service providers, and reduce the complexity of obtaining rewards from DePIN protocols.