Cross-chain asset bridge and utility hub ChainSwap has closed a $three million strategic funding spherical with participation from a number of the greatest 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 utility hub.
Individuals included some large names in crypto and DeFi akin 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 few others.
The ChainSwap platform permits tasks to seamlessly bridge between Ethereum, Binance Sensible 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 presently helps 18 tokens from varied platforms together with stablecoins RAI and FEI, Polkastarter’s POLS, Vortex VTX token, Strongblock’s STRONG, and quite a few extra obscure listings which could be seamlessly swapped between the three presently supported blockchains.
It plans to launch its personal token which can be airdropped for protocol customers and holders of the AntiMatter token, MATTER. AntiMatter Finance is a light-weight on-chain DeFi perpetual spinoff protocol presently operating on testnet.
ChainSwap is considered one of quite a few multi-chain platforms coming into the DeFi house in current months. Decentralized liquidity community THORChain can 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 dwell in early Could. Thor’s native token RUNE rallied to all-time highs in late February after Multicoin Capital revealed it had collected a big place.