Crypto platform Leap has raised $3.2 million in a funding round co-led by blockchain-focused investment firm CoinFund and Pantera Capital. The private share sale also saw participation from Arrington Capital, Accel and Terraform Labs.
Leap is a non-custodial Terra wallet offering access to dApps, staking, DeFi, NFTs, and more on one platform. The company said that the investment will support the growth of the team, particularly in the areas of engineering and design, in addition to progressing product development.
As the Terra ecosystem continues its remarkable growth, the Leap team works to develop their cutting-edge wallet with ease of use and safety at the forefront of their operations.
The platform is modeled after Web2 consumer applications, allowing crypto-curious and crypto native users alike to easily store, send, stake, and swap tokens. As a non-custodial wallet, Leap does not have access to user funds and does not store their private keys. The platform is designed to protect users from scams and phishing attacks.
“Leap Wallet was created to give users of the Terra blockchain an all-encompassing application that allows them to fully utilize the offerings of the ecosystem,” said Leap's Founder Sanjeev Rao. “By prioritising ease of use and safety, every step of our development process has kept our users front of mind.”
Founded in November 2021, Leap is building a product that will allow users to access everything on the Terra crypto ecosystem in one place. In addition to traditional wallet features, the application will integrate NFTs, gaming, identity, social, commerce and interactive media experiences.
Some of the existing capabilities include in-wallet swaps, fiat on ramps, and cross-chain transfers. Users can view their NFT collection in-wallet, with floor price metadata coming soon. Over time, Leap plans to build a scalable Dapp-store that would allow developers to create in-wallet mini apps in a permissionless manner. Leap also recently announced the launch of their iOS and Android apps.
“The Leap team is building a home for all of the tools that users need to transact on the Terra blockchain.” said Austin Barack, CoinFund Partner. “The simple platform and wide array of offerings enhance the user experience significantly. The sheer number of applications necessary to fully immerse oneself in the ecosystem can be daunting for new users – Leap Wallet is solving that issue.”
