Nycrypto Labs Secures $800K To Scale Tidus, The 'Everything' App Every DeFi User Needs

In the emerging Web3 space where cryptocurrency users have various apps or extensions to track their digital assets, blockchain development hub Nycrypto Labs has come up with Tidus Wallet, which is "the only multi-chain wallet that enables lending, borrowing, and staking cross-chain without leaving the app."

Nycrypto Labs announced Tuesday that it raised $800,000 in pre-seed funding in a financing round led by DNA Fund, with participation from Michael Terpin's Transform Ventures and other prominent angel investors.

Coinciding with the funding milestone is the launch of Nycrypto Labs' flagship "everything" app, the Tidus Wallet, designed as an intuitive, non-custodial wallet that users can have on both desktop and mobile. The wallet is available on both the App Store and Play Store.

Tidus empowers millions of users with accessibility to blockchain and decentralized finance (DeFi), especially those who were previously hesitant to dabble into Web3 due to perceived security risks and the steep learning curve associated with it.

Through Tidus' multi-chain compatibility, the potential risk for click fraud is reduced, given its features focused on decentralized security and privacy. Users can also find educational resources and native decentralized application (dApp) integrations, making the unique wallet a one-stop-shop for every DeFi user's needs.

Nycrypto Labs' commitment to providing consumers with ease of use is further demonstrated in the Tidus Wallet's bridging-free feature. Transferring assets across different blockchain networks typically involves the use of intermediary protocols or platforms for token conversion. The bridging process also often involves multiple steps, which can potentially introduce security risks, complexity for beginner traders, and higher fees.

Since users no longer need to go through the complex processes involved in bridging, the Tidus Wallet provides a more secure and streamlined user experience that not only reduces transaction fees but also empowers users to navigate the vast and burgeoning Web3 landscape with utmost confidence.

"Three fundamental principles are vital for any crypto project: accessibility, decentralization and security," Nycrypto Labs and Tidus founder Dan Mulligan told International Business Times in a statement.

"Many platforms only focus on one principle, like accessibility, at the expense of decentralization and security – and without decentralization, security is often compromised. Tidus and TidusDAO blend these principles seamlessly while simultaneously rewarding users for using the product," he added.

Tidus is poised to revolutionize the blockchain landscape with its mobile-first approach that ensures every function – from swapping to staking – can be performed with just a few clicks through an intuitive user interface. As a multi-chain, non-custodial wallet that allows users to have unparalleled control and security over their cryptocurrencies, Tidus is the promising change DeFi users need to eliminate the need to juggle different apps and browser extensions to monitor their digital assets.

The wallet supports a wide range of blockchain networks, including Bitcoin, Polygon, Solana, Base, Ethereum, Optimism, TON, Arbitrum and more. With all the key features DeFi users need in a single wallet, Tidus is proving that it's possible for one wallet to rule them all.