ChainCatcher news, Sui ecosystem DeFi crypto startup Siphon Lab announced the completion of a $1.2 million seed round financing, led by Kima Ventures, with participation from Waveline Capital, BT Growth Capital, Uno Ventures, Quidnet Ventures, Mava Ventures, and a group of angel investors from both Web3 and Web2. The new funds will be used to scale its operations, develop talent, and accelerate growth.It is reported that Siphon Lab is currently building the "Siphon Universe" on the Sui network, with products including liquidity staking protocols such as Tradeify and Liquidify, aimed at maximizing the capital efficiency of SUI across the ecosystem. (Source link)