Odaily News: Layer1, a blockchain project created by former Meta employees, has completed a $6 million financing round. Borderless Capital led the investment, with participation from a16z, Laser Digital, ArkStream Capital, DFG, Jsquare, and CADENZA, among others. The project aims to introduce Web2-level scalability to Web3 applications through an unlimited number of small-scale user chains. The new funds will be used to expand the team, launch the protocol's development network and testnet, as well as cultivate strategic influence in the Asia-Pacific region and further develop its developer academy. (CoinDesk)