Cross-Chain Asset Bridge and Application Center ChainSwap closed a strategic $ 3 million funding round with the participation of some of the biggest names in decentralized finance and the crypto industry.
In an April 7 announcement, ChainSwap said it has raised funds to accelerate its vision of creating a multi-channel, multi-asset app hub.
Among the attendees were big names in crypto and DeFi such as Alameda Research, venture capital affiliate OK Block Dream Fund, NGC Ventures, Spark Digital Capital, Metaconstant Ventures, CMS Holdings, Rarestone Captial, SRC Capital, DAO Ventures and a number of others.
The ChainSwap platform allows projects to bridge the gap between Ethereum, Binance Smart Chain and Huobi Eco Chain (Heco). It plans to add cross-chain solutions for Bitcoin, Polkadot and Solana in the future and has already started with a Polkastarter bridge launched on March 21.
The protocol currently supports 18 tokens from various platforms, including RAI and FEI stablecoins, POLS from Polkastarter, Vortex VTX token, STRONG from Strongblock and a number of more obscure lists that can be traded seamlessly. between the three currently supported blockchains.
He plans to launch his own token that will be air-dropped for protocol users and AntiMatter token holders, MATTER. AntiMatter Finance is a lightweight on-chain DeFi perpetual derivative protocol currently running on testnet.
ChainSwap is one of several multi-channel platforms entering the DeFi space in recent months. The decentralized THORChain liquidity network will launch what it calls a “multichain chaosnet” (MCCN) on April 13.
The multi-channel AMM will compete with Uniswap v3 when it goes live in early May. Thor’s native token, RUNE, hit all-time highs at the end of February after Multicoin Capital revealed that it had accumulated a significant position.