Web3 security infrastructure Start-Up, Chainrisk Raises Pre-Seed Funding Led By Antler
Summary
Chainrisk, an economic risk management software for Web3, has raised an undisclosed pre-seed funding led by Antler in India. Chainrisks custom engine is 150x faster than the current test-driven tools, helping create a robust security ecosystem with built-in analytics, risk monitoring and alerting dashboards.Chainrisk was founded by IIT dropouts Sudipan Sinha and Arka Datta who were a part of the Antler India Fellowship for student founders. Every DeFi protocol goes through multiple rounds of mechanism design tests against adversarial market conditions while developing new features/versions. These tools are extremely difficult to configure for agent-based simulations, and also show high latency, and low fidelity, making it hard to handle high-throughput backtesting of strategies. Chainrisk is building a superior security mechanism that Web3 protocols and investors can use to safeguard against ever-emerging market risks.