Chaos Labs, a software development company based in New York City, has announced that it raised $20m in a seed funding round to develop an automated economic security system for blockchain protocols. Galaxy and Paypal Ventures and other investors from the blockchain industry, including Uniswap Labs, Coinbase, Bessemer Venture Partners, and Lightspeed Venture Partners, lead this round,

According to the founder of Chaos Labs, Omer Goldberg, the funds will be used to develop its automated economic security system for crypto protocols, designed to protect users and projects from malicious actors.

He added that the system would use machine learning algorithms to detect and identify potential risks or vulnerabilities in the protocol and provide suggestions for addressing them.

In addition, it will help users better understand their financial risks and recommend ways to mitigate them. The ultimate goal is to make crypto protocols more secure and resilient against malicious attacks.