ChainSwap raises $3M from investors including Alameda Research and NGC Ventures

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The multi-chain span hub aims to span Ethereum and BSC and beyond.

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ChainSwap raises $3M from investors including Alameda Research and NGC Ventures

Cross-chain plus span and exertion hub ChainSwap has closed a $3 cardinal strategical backing circular with information from immoderate of the biggest names successful decentralized concern and the crypto industry.

In an April 7 announcement, ChainSwap stated that it raised the funds successful bid to accelerate its imaginativeness of creating a multi-chain and multi-asset exertion hub.

Participants included immoderate large names successful crypto and DeFi specified arsenic Alameda Research, OKEx’s task limb OK Block Dream Fund, NGC Ventures, Spark Digital Capital, Metaconstant Ventures, CMS Holdings, Rarestone Captial, SRC Capital, DAO Ventures, and a fig of others.

The ChainSwap level allows projects to seamlessly span betwixt Ethereum, Binance Smart Chain, and the Huobi Eco Chain (Heco). It plans to adhd cross-chain solutions for Bitcoin, Polkadot, and Solana successful the aboriginal and has already begun with a Polkastarter span launched connected March 21.

The protocol presently supports 18 tokens from assorted platforms including stablecoins RAI and FEI, Polkastarter’s POLS, Vortex VTX token, Strongblock’s STRONG, and a fig of much obscure listings which tin beryllium seamlessly swapped betwixt the 3 presently supported blockchains.

It plans to motorboat its ain token which volition beryllium airdropped for protocol users and holders of the AntiMatter token, MATTER. AntiMatter Finance is simply a lightweight on-chain DeFi perpetual derivative protocol presently moving connected testnet.

ChainSwap is 1 of a fig of multi-chain platforms entering the DeFi abstraction successful caller months. Decentralized liquidity web THORChain volition beryllium launching what it calls a “multichain chaosnet” (MCCN) connected April 13.

The multi-chain AMM volition vie with the likes of Uniswap v3 erstwhile it goes live successful aboriginal May. Thor’s autochthonal token RUNE rallied to all-time highs successful precocious February aft Multicoin Capital revealed it had accumulated a ample position.

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