Financing Project Decryption: Can Paradigm-led Parallel EVM Reddio Become Another Monad?

Funding Project Decryption: Can Reddio, the Parallel EVM Backed by Paradigm, Become Another Monad? According to the official disclosure, on May 31st, Reddio announced the completion of its Series A funding round, which was participated by institutions such as WAGMI Ventures, Oak Grove Ventures, and Skyland Ventures. After completing seed and Series A funding rounds, Reddio's total valuation has reached $80 million. As is well known, the Ethereum mainnet is limited by performance bottlenecks, and "Block expansion" as a native solution is undoubtedly inadequate. Therefore, since last year, parallel EVM has gradually entered the stage and become a new research direction in the scaling track. In this context, Reddio hopes to achieve Ethereum scaling by building a parallel, EVM-compatible L2 platform. In fact, as early as August last year, Reddio had completed a seed round of funding led by Paradigm and Arena Holdings, which Web3Caff Research had also previously commented on.