Cross-chain asset bridge and software hub ChainSwap has closed a $three million strategic funding spherical with participation from a number of the
Cross-chain asset bridge and software hub ChainSwap has closed a $three million strategic funding spherical with participation from a number of the largest names in decentralized finance and the crypto business.
In an April 7 announcement, ChainSwap said that it raised the funds as a way to speed up its imaginative and prescient of making a multi-chain and multi-asset software hub.
Individuals included some large names in crypto and DeFi similar to Alameda Analysis, OKEx’s enterprise arm OK Block Dream Fund, NGC Ventures, Spark Digital Capital, Metaconstant Ventures, CMS Holdings, Rarestone Captial, SRC Capital, DAO Ventures, and quite a lot of others.
The ChainSwap platform permits tasks to seamlessly bridge between Ethereum, Binance Good Chain, and the Huobi Eco Chain (Heco). It plans so as to add cross-chain options for Bitcoin, Polkadot, and Solana sooner or later and has already begun with a Polkastarter bridge launched on March 21.
The protocol at present helps 18 tokens from numerous platforms together with stablecoins RAI and FEI, Polkastarter’s POLS, Vortex VTX token, Strongblock’s STRONG, and quite a lot of extra obscure listings which may be seamlessly swapped between the three at present supported blockchains.
It plans to launch its personal token which might be airdropped for protocol customers and holders of the AntiMatter token, MATTER. AntiMatter Finance is a light-weight on-chain DeFi perpetual by-product protocol at present working on testnet.
ChainSwap is one among quite a lot of multi-chain platforms getting into the DeFi house in current months. Decentralized liquidity community THORChain might be launching what it calls a “multichain chaosnet” (MCCN) on April 13.
The multi-chain AMM will compete with the likes of Uniswap v3 when it goes reside in early Might. Thor’s native token RUNE rallied to all-time highs in late February after Multicoin Capital revealed it had gathered a big place.