In Brief:
- ZkLink has closed $8.5 million in a funding round led by Republic crypto
- Funding came from various participants like Arrington, Capital, DeFi Alliance, Huobi Ventures etc.
- ZkLink aims to become the first multi-chain DEX to enable one-click, cross-chain transfers.
Decentralized exchange (DEX) ZkLink has closed $8.5 million in a funding round.
According to the announcement Republic crypto led the funding round. The funding also came from various participants like Arrington, Capital, DeFi Alliance, Huobi Ventures, GSR Marshland Capital, Skynet Trading, and others.
ZkLink aims to become the first multi-chain DEX to enable one-click, cross-chain transfers across both Ethereum Virtual Machine (EVM) and non-EVM compatible chains.
The company has launched testnet 2.0 that supports Fast Cross-Chain Swap and Fast Bridge. ZkLink layer 1 will support Ethereum, Binance Smart Chain, Huobi Eco Chain, Solana, Polygon Fandom, etc.
The ZkLink connects separate Layer1 networks with a single Layer 2 network. That the tokens belonging to various ecosystems can be directly swapped with each other on this Layer2, without an intermediate token.
Also Read: Solana-Based DeFi Protocol Synchrony Raises $4.2 Million
“Trustless interoperability is the holy grail of blockchain, but there aren’t many projects and products tackling cross-chain from user perspective,” Michael Arrington, founder of Arrington Capital said in a statement. “ZkLink’s innovative DeFi is tackling this obstacle and making it easier than ever for anyone to take part in secure, safe and cross-chain asset swaps.”
