KaJ Labs raises $400 million to develop a cross-chain application platform

The KaJ Labs закрыл a $400 million seed round of funding with participation from Global Emerging Markets Digital, Four Capital and other investors.

The amount raised was the second-largest at this funding stage in 2022.

The funds will be used to develop Lithosphere, a cross-chain application platform.

Investors in the round received the right to subscribe to LITHO tokens. The asset is available on the MEXC exchange in a USDT trading pair.

The team has built resources to broaden the platform’s toolkit and its global rollout.

Lithospere solutions, in particular, are already used by the Jot Art Metaverse project. Developers launched an RPG game Finesse with P2E elements. NFTs on the Ethereum and BNB Chain networks are supported at the initial stage. In the future, expansion of this list is planned.

The KaJ Labs team has set a goal to ensure compatibility of dapps across all existing blockchains.

Litosphere uses deep neural networks for intelligent use of smart contracts. Interoperability enables several methods of value transfer within a single governance framework.

Earlier in May, the Polkadot запустила cross-chain messaging system XCM, which enables communication between different parachains.

Earlier, the interoperability-focused blockchain project Connext представил its native NEXT token and announced the creation of a DAO.

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