What Milkomeda does

Milkomeda is a Layer 2 network protocol that delivers EVM (Ethereum Virtual Machine) functionality to non-EVM Layer 1 blockchains, with a first-to-market EVM sidechain on Cardano and an EVM rollup on Algorand. Its core products are Milkomeda C1, a Cardano sidechain launched in April 2022 that uses wrapped ADA (MilkADA/mADA) as its base fee and gas asset, and Milkomeda A1, an Algorand EVM rollup launched on mainnet on October 19, 2022, with A1 validators scheduled to shut down by the end of May 2024. The protocol's distinguishing technical component is Wrapped Smart Contracts (WSC), an account-abstraction mechanism that allows users to interact with L2 EVM applications directly from their Layer 1 wallets via Actor smart contracts bound to L1 addresses. Supporting infrastructure includes the Milkomeda Bridge for cross-chain asset wrapping/unwrapping, the WSC UI React component library for DApp integration, Liquid Staking to preserve Layer 1 staking rewards, and an open oracle service.

Milkomeda is operated as a decentralized protocol by the Milkomeda Foundation, a Cayman Islands entity, with the Milkomeda Foundation structured as a non-profit providing open-source infrastructure; the foundation has raised $3.1 million in a single seed round led by Archetype with participation from Coinbase Ventures (announced October 2022). The core development partnership is with dcSpark, which also develops the Flint Wallet that includes native Milkomeda mode. The protocol's revenue model is based on transaction fees: bridge wrap and unwrap fees (0.1 TADA and 1.0 TADA respectively) plus EVM gas fees on L2 transactions, with no publicly disclosed commercial pricing tiers.

Milkomeda's go-to-market is product-led and community-led, targeting Solidity developers from the Ethereum ecosystem who want to deploy unchanged code on Cardano or Algorand. Distribution is entirely self-serve through developer documentation (docs.milkomeda.com, localized in English, Japanese, Korean, and Chinese), wallet integrations (MetaMask, Flint), npm-distributed UI components, the Milkomeda DApp Store, and an Incubator program. Customer segments span developers porting DApps, DeFi users, NFT and gaming users, and ADA holders seeking L2 access without forfeiting staking rewards. Security posture is reinforced through audits by Certik and Arbitrary Execution and formal verification of bridge smart contracts by Certora.

Name

Milkomeda

Legal name

Milkomeda Foundation

Website

https://milkomeda.com

Company type

Private

Founded year

2022

Operating status

Operating

Short description

Milkomeda is a Layer 2 protocol providing EVM compatibility for non-EVM blockchains via the C1 Cardano sidechain and A1 Algorand rollup, enabling Solidity developers to deploy unchanged smart contracts and users to transact with Layer 1 wallets.

Ownership category

akta.pro rank

Product category

Blockchain Layer 2 Protocol

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Layer 2 Scaling & Rollups (optimistic/ZK, sequencers, DA usage) (FSAPAAAB)

akta.pro secondary industries

Layer-2 (L2) / Rollup Sequencer & Validator Operations (FSADAKAB), Liquidity Bridges & Cross-Chain Swaps (bridge aggregators, intent-based swaps) (FSAPAKAC), Smart Contract Developer Platforms & Tooling (SDKs, APIs, frameworks, indexing) (FSAPAAAH)

Keywords

• EVM sidechain protocol
• Layer 2 rollup
• Blockchain interoperability
• Solidity development platform
• Cross-chain asset bridge

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations

Revenue model

1. Protocol Fees: Transaction fees generated from bridge operations and L2 transactions. Users pay fees in mADA/ALGO for transactions on Milkomeda sidechains. Bridge fees apply for wrapping (0.1 TADA) and unwrapping (1.0 TADA) operations plus EVM gas fees.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Milkomeda delivers Layer 2 rollup and sidechain protocols that bring Ethereum Virtual Machine (EVM) functionality to non-EVM blockchains, currently supporting Cardano (C1 sidechain) and Algorand (A1 rollup). The protocol enables Solidity developers to deploy smart contracts without code modification, supports cross-chain asset bridging, and provides Wrapped Smart Contracts (WSC) for Layer 1 wallet control of Layer 2 transactions. Revenue is generated through transaction fees on bridge operations and L2 transactions.

Product overview

Milkomeda is a Layer 2 network protocol that brings Ethereum Virtual Machine (EVM) functionality to non-EVM compatible blockchains, currently supporting Cardano (C1 Sidechain) and Algorand (A1 Rollup). The core offering consists of EVM-based sidechains/rollups that enable Solidity developers to deploy smart contracts without rewriting code, using the same tooling as Ethereum. Key products include the C1 Sidechain for Cardano and A1 Rollup for Algorand, along with the Milkomeda Bridge for cross-chain asset transfers. Additional products include Wrapped Smart Contracts (WSC) for seamless Layer 1-to-Layer 2 interaction, the Milkomeda WSC UI React component library for DApp integration, Milkomeda Open Oracle for external data, and Liquid Staking for earning L1 rewards. The ecosystem is supported by Milkomeda Devnet and Mainnet environments, the Milkomeda Incubator acceleration program, and the DApp Store marketplace.

Differentiator

Problem solved

Functional benefit

Brands

• Milkomeda C1: The first Cardano EVM-based sidechain that uses mADA (wrapped ADA) as its base asset for fees and gas.
• Milkomeda A1
• Wrapped Smart Contracts (WSC)

Products and services

• Milkomeda C1 (Cardano EVM Sidechain) An EVM-based sidechain connected to Cardano that enables Solidity smart contract deployment without requiring developers to learn Cardano's native languages. Uses MilkADA (wrapped ADA) as base asset for fees and gas, allowing auto-delegation to Cardano stake pools.
• Milkomeda A1 (Algorand EVM Rollup) An EVM-based rollup solution connected to Algorand, bringing EVM functionality to the Algorand ecosystem. Uses wrapped ALGO (wALGO/mALGO) for fees and gas on the rollup.
• Milkomeda Bridge Cross-chain asset bridge connecting Cardano and Algorand with their respective Milkomeda sidechains. Supports wrapping and unwrapping of native assets including ADA, ALGO, and various ERC-20/ASA tokens with bridge fees (0.1 TADA wrapping, 1.0 TADA unwrapping).
• Wrapped Smart Contracts (WSC) Protocol enabling execution of Layer 2 smart contracts directly from Layer 1 wallets. Uses account abstraction with Actor smart contracts bound to users' L1 addresses, allowing seamless cross-layer interaction without managing multiple wallets.
• Milkomeda WSC UI React component library (npm package: milkomeda-wsc-ui) for integrating Wrapped Smart Contracts into decentralized applications. Provides ConnectWSCProvider, TransactionConfigWSCProvider, and ConnectWSCButton components for seamless DApp integration.
• Milkomeda Devnet Test environment for Milkomeda C1 that uses test ADA and interacts with Cardano Preprod Testnet. Allows developers to experiment and test before deploying to mainnet.
• Milkomeda Open Oracle Oracle service integrated with Milkomeda for bringing external data onto the blockchain for smart contracts.
• Milkomeda Liquid Staking Standard for Milkomeda allowing users to keep earning Layer 1 staking rewards while assets are deployed on the sidechain, combining DeFi yields with staking rewards.

Quantifiable outcome

• Supports 15+ native Cardano tokens and multiple Algorand assets
• +2 more outcomes

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature8 records

Partnerships

15 partnerships are on record, tiered core partner, security partner and featured integration.

• dcSparkcore partnerTechnology or IntegrationdcSpark is the core development team behind Milkomeda, building the protocol infrastructure, wallets (Flint), and ecosystem tools. Copyright notices indicate dcSpark involvement in smart contract development.
• Flint Walletcore partnerTechnology or IntegrationFlint wallet is a recommended Cardano wallet for Milkomeda, with native Milkomeda mode support for seamless L2 interactions. Developed by dcSpark.
• Cardano Foundationcore partnerStrategic or Co-development PartnerEcosystem partner for Milkomeda C1 sidechain deployment on Cardano. Milkomeda is the first EVM sidechain for the Cardano blockchain ecosystem.
• Algorandcore partnerStrategic or Co-development PartnerEcosystem partner for Milkomeda A1 rollup deployment on Algorand. A1 provides EVM compatibility for the Algorand blockchain.
• Arbitrary Executionsecurity partnerTechnology or IntegrationSecurity auditing firm that conducted formal verification of Milkomeda bridge smart contracts.
• CertiKsecurity partnerTechnology or IntegrationLeading blockchain security firm that audited Milkomeda smart contracts.
• Certorasecurity partnerTechnology or IntegrationFormal verification company that conducted formal verification of dcSpark SidechainBridge smart contracts.
• Djed Protocolfeatured integrationTechnology or IntegrationStablecoin protocol integrated with Milkomeda WSC, enabling ReserveCoin transactions from L1 wallets.
• WAGMIfeatured integrationTechnology or IntegrationReact hooks library for Ethereum, integrated with Milkomeda C1 for DApp development.
• Thirdwebfeatured integrationTechnology or IntegrationWeb3 development framework integrated with Milkomeda for DApp deployment.
• Gnosis Safefeatured integrationTechnology or IntegrationMulti-signature wallet platform supported on Milkomeda C1 for secure asset management.
• API3featured integrationTechnology or IntegrationOracle service providing quantum random numbers (QRNG) for Milkomeda C1 smart contracts.
• SupraOraclesfeatured integrationTechnology or IntegrationOracle provider integrated with Milkomeda for pulling external data into smart contracts.
• MetaMaskcore partnerTechnology or IntegrationRecommended EVM wallet for interacting with Milkomeda C1 and A1 sidechains. Supports custom network configuration for Milkomeda networks.
• Nomadfeatured integrationTechnology or IntegrationCross-chain bridge protocol supporting WETH, WBTC, USDT, and USDC on Milkomeda A1.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/Milkomeda_com

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds3 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Milkomeda