Odaily News Nitro Labs, the team behind Solana's scaling infrastructure platform Termina, announced the completion of a $4 million seed round of financing, led by Lemniscap, with participation from Animoca Ventures, Borderless Capital, Finality Capital, Race Capital, No Limit Holdings, Solana Foundation, Jump Crypto and Spartan, as well as several angel investors. Nitro Labs founder Yiwen Gao said the seed round ended this summer and was structured as a simple agreement for future equity (SAFE) with token warrants attached. Gao declined to disclose the company's valuation. Termina is an open source platform designed to enable developers to easily deploy custom Solana Rollup or SVM "network extensions." Nitro Labs said more than 20 projects are currently being built on Termina, covering Solana native projects and cross-chain projects. The platform's testnet is expected to be launched later this year. Currently, Termina is in the private alpha development network stage, and its mainnet is expected to go live next year. When asked whether Termina's token will be released at the same time as the mainnet, Gao said that the timeline for the token launch has not yet been determined. Nitro Labs is headquartered in San Francisco and has less than 10 employees. Gao plans to expand the team selectively. (The Block)