Karak
Unicorn · $1B10 known investors
OpenGDP is an operating layer for real-world economic execution that unifies money, assets, and autonomous systems with institutional-grade controls, security, and speed for enterprises, institutions, and governments. It enables stablecoin settlement, asset tokenization, and orchestration of complex economic workflows across applications, institutions, and autonomous systems.
Also known as Andalusia Labs · Karak Network · OpenGDP
Founders & leadership
Board
Investors · 10
Also in the syndicate · 6
Valuation · disclosed
Disclosed eventsSource: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.
Company profile
researched Aug 2026Karak (karak.network) began as a multi-collateral, or "universal," restaking layer that lets holders of staked assets redeploy those assets to provide crypto-economic security to other applications. Unlike restaking designs limited to staked Ether, Karak accepts Ether, a range of liquid staking and liquid restaking tokens, and stablecoins, and supports restaking on Ethereum mainnet, Arbitrum and Karak's own network. Services that consume Karak's restaked security are called Distributed Secure Services (DSS); stakers opt in to grant additional enforcement and slashing rights on their assets, and developers can incentivize validators to allocate restaked collateral to their services rather than bootstrapping a validator set with inflationary token emissions.
Secondary documentation describes Karak as an EVM-compatible Layer 2 oriented toward financial security, combining risk management, restaking and AI, with K2 as a risk-management L2 and sandbox for DSS development and testing before deployment. Ecosystem components listed include the Karak Bridge (Ethereum, Arbitrum, Optimism, Karak), Subsea (risk marketplace), SlashProof (zero-knowledge protection for staked assets), Watchtower (market-simulation stress testing) and Kekswap (a decentralized exchange).
The karak.network site today presents the company as OpenGDP, described as an operating layer for real-world economic execution: stablecoin settlement with built-in FX, pricing, routing and liquidity; issuance of programmable instruments for deposits, funds, securities, commodities, invoices, insurance and compute markets; and orchestration of economic workflows across applications, institutions and autonomous systems. It also offers deployment of sovereign, institutional, enterprise or sector-specific networks on an "OpenGDP Network Stack" with their own permissions, privacy and execution environments while connected to the base layer.
Business model
The public material does not state pricing or fee mechanics. The restaking layer functions as a marketplace in which developers of Distributed Secure Services incentivize validators and restakers to allocate restaked collateral to secure their services, while restakers earn rewards; the current OpenGDP positioning is a platform offering APIs, SDKs and EVM-compatible infrastructure for institutional economic workflows.
Traction
Deposits exceeded $136 million within days of private access going live in April 2024, of which $66.4 million was on the Karak Network, $59.4 million on Ethereum and $7.79 million on Arbitrum; $52 million of that arrived in a single 24-hour period. Growth was attributed in part to an XP points campaign rewarding deposits and referrals, widely read as a precursor to an airdrop. Karak said the first DSS would be unveiled in the weeks after April 2024.
Latest developments
The current karak.network site markets OpenGDP, with modules for stablecoin settlement, programmable asset issuance and workflow orchestration, plus the ability to launch sovereign, institutional, enterprise or sector-specific networks on the OpenGDP Network Stack. Listed ecosystem partners include KUDA (data availability), Wormhole (cross-network messaging and asset movement), Space and Time (ZK-proven data) and Hyperlane (permissionless cross-chain connectivity).
▸Full profile — market position, technology, go-to-market, history, risks & controversies
Market position
Coverage in April 2024 framed Karak as a challenger to EigenLayer, the dominant restaking protocol, which at the time held over $14 billion in deposited crypto assets versus Karak's $136 million. Karak's stated differentiation was broader collateral acceptance and multi-chain availability. A third-party project directory also lists Symbiotic as a related restaking project.
Karak extends restaking beyond staked Ether to liquid staking tokens, liquid restaking tokens and stablecoins, and beyond Ethereum mainnet to Arbitrum and its own network; stablecoins accounted for roughly 17% of restaked value in April 2024. It also offers turnkey access to an existing trust network so new protocols do not need to bootstrap validators with dilutive token rewards.
Technology
EVM-compatible infrastructure with APIs and SDKs. The restaking design accepts multiple collateral types (ETH, liquid staking/restaking tokens such as those from Lido, Rocket Pool, Mantle and Etherfi, and stablecoins including sDAI) deposited into Karak smart contracts, and supports opt-in slashing conditions for Distributed Secure Services. K2 is described as a risk-management Layer 2 built on Karak that acts as a lower-cost sandbox for DSS development, testing and protocol upgrades, with custom precompiles allowing more validators to validate DSSs. The OpenGDP layer adds controls (approvals, permissions, limits, policy and compliance enforcement), encrypted transactions and protected operational metadata, real-time monitoring, and audit artifacts such as receipts, traces, reconciliation records and export-ready logs.
Go-to-market
Under the OpenGDP positioning: enterprises (treasury movement, supplier payments, usage credits, reconciliation), financial institutions (tokenized assets, settlement, liquidity, controls, lifecycle operations) and governments (disbursements, collections, procurement). Under the restaking positioning: crypto asset holders and restakers, node operators, and protocol developers needing bootstrapped security.
History
Karak was documented in April 2024 as a universal restaking layer with co-founders Raouf Ben-Har and Drew Patel. On 8 April 2024 the company announced a $48 million Series A at a valuation above $1 billion; a reference cited in third-party documentation attributes that raise to Andalusia Labs. Private access to the restaking product launched the following day. The karak.network site now presents the project as OpenGDP, an operating layer for programmable money, tokenized assets and institutional economic workflows.
Risks & controversies
The XP points program was characterized by third-party coverage as an airdrop-farming incentive; Karak had not announced whether or when XP would convert to tokens or how long the campaign would run, and deposit growth was attributed partly to speculative airdrop farming. The company's public positioning has also shifted substantially from restaking to institutional economic infrastructure, and available sources do not document the transition.
Compiled by commissioned research from 7 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Competitors · 1
by search overlap
Companies competing with Karak for the same Google search keywords, organic and paid, via search-intersection analysis.
Timeline · 2
launches, deals, and filingsKarak's private access period went live on Tuesday 9 April 2024, accompanied by an XP points campaign rewarding depositors and referrals; deposits reached over $136 million in the days following.
Karak announced a $48 million Series A round on Monday 8 April 2024, valuing the protocol at over $1 billion, with backers including Coinbase, Digital Currency Group and Abu Dhabi sovereign wealth fund Mubadala Capital.
$48M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
Karak Free Zone cuts warehouse fees by 50% to attract investors - The Jordan News Agencypetra.gov.jo · Jul 2026▸Research sources · 7
primary sources listed
- Karakkarak.network · web
7 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Karak do?
- Karak, now operating as OpenGDP, runs a multi-asset restaking layer and an execution layer for programmable money and tokenized assets.
- Who are Karak's investors?
- Karak's investors include Coinbase Ventures, Pantera Capital, Digital Currency Group, Framework Ventures.