Leap Announces $3.2 Million Private Sale, Co-Led by Blockchain-Focused Investment Firms CoinFund and Pantera Capital
India, Bengaluru – April 7th, 2022 – Leap, a non-custodial Terra wallet offering access to dApps, staking, DeFi, NFTs, and more on one platform, today announced a $3.2 million private sale co-led by blockchain-focused investment firm CoinFund and Pantera Capital. The private sale also saw participation from Arrington Capital, Accel and Terraform Labs. The sale proceeds will continue to 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 simple and intuitive design of 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 funds and does not store users’ private keys. The platform is developed with best-in-class security, dedicated to protecting 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 prioritizing ease of use and safety, every step of our development process has kept our users front of mind.”
Founded in Nov’21, Leap is building a robust product that will allow users to access everything on the Terra 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 at best prices, 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 & 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.”
“Wallets are the primary gateway to broader crypto adoption, sourcing the benefits of DeFi and presenting users with a familiar and sleek mobile interface,” said Do Kwon, Co-Founder and CEO of Terraform Labs (TFL). “Leap is a meaningful step forward in onboarding new users to Terra, offering a user-friendly mobile experience rich with features brandishing the power of Terra’s DeFi ecosystem – with simplicity and security at its core.”
India has significant, untapped potential in the Web3 space, and Leap aims to create opportunities for Indian talent to innovate in the space. Most of the engineering and marketing team of Leap is based in India and the company is looking at scaling its team in the coming months. Leap is currently working closely with the Terra India team to raise awareness and build a robust DeFi ecosystem in the country.
To learn more about Leap Wallet, please visit leapwallet.io