The decentralized cross-chain exchange zkLink, based on second-layer technology ZK-Rollups, raised $8.5 million in seed funding.
The funding round was led by Republic Crypto, with participation from Arrington Capital, DeFi Alliance, Huobi Ventures, Ascensive Assets, Morningstar Ventures, GSR and Marshland Capital.
The funds raised will be used to expand the team, launch the mainnet later this year, and add support for new features on the platform.
While zkLink operates in test mode, offering cross-chain swaps of tokens from the Ethereum, Binance Smart Chain, Polygon, and Huobi Eco Chain networks. In the future, the developers plan to add support for other blockchains, staking features, and cross-chain farming.
The fundraising used the SAFT model. The project plans to obtain additional investments after the mainnet launch.
The cross-chain DeFi hub Umee raised $6.3 million from Polychain Capital, Alameda Research, Coinbase Ventures, Consensys, Tendermint, and BKCM’s CEO Brian Kelly.
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