ZK Rollup-based DEX zkLink Raises $10M

zkLinka multi-channel decentralized exchange which exploits the technology ZK Rolluphas raised 10 million dollars from Coinbase, BigBrain and others.

Presented as a decentralized infrastructure layer for cryptocurrency exchange, zkLink is based on the very fashionable technology ZK Rollup which takes advantage of Zero-Knowledge proof.

On Thursday, the startup developing the multi-chain protocol announced a 10 million round of funding. Among the investors, we note the participation of the VC branch of the giant Coinbase, Ascensive Assets, BigBrain Holdings and Efficient Frontier.

The deal follows a previous $8.5 million round of funding closed in the fall of 2021 from GSR, Morningstar and Huobi Ventures, among others. It brings the company’s total funding to $18.5 million.

The new capital will allow us to accelerate the development of our protocol and bring it to market faster. We believe the ZK-Rollup-based trading infrastructure will usher in a seamless, unified and secure multi-channel DeFi landscape,” commented zkLink co-founder Vince Yang in a statement.

Connecting layers1 and 2 via its ZK-Rollup software, zkLink allows traders to take advantage of aggregated assets and liquidity on different chains. The ZK-Rollup multi-chain technology has the potential to revolutionize the way traders execute trades, according to the announcement.

“zkLink addresses many of DeFi’s weaknesses that have, until now, hindered the industry’s growth. We have full confidence in the team’s ability to improve the user experience with its multi-channel trading layer “said Oliver Blakey, partner at Ascensive Assets.

According to the roadmap posted on its website, zkLink plans to launch the mainnet of its protocol in the 3rd quarter of 2023.

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