Ethereum (ETH)
Ethereum (ETH)
$1 356.14 (-0.94 %) Ver moneda |
Polkadot (DOT)
Polkadot (DOT)
$6.37 (-1.51 %) Ver moneda
News
27 ene. 2021

CMS Trading leads $1.3 million fundraise for Ethereum-Polkadot bridge

CMS Trading leads $1.3 million fundraise for Ethereum-Polkadot bridge

ParaState — a project that offers Ethereum developers access to the Polkadot blockchain — has raised $1.3 million in a seed fundraising round, the firm told The Block. 

Led by CMS Trading, the funding round included participation from Kenetic Capital, FBG Capital, and JRR Capital, according to a press statement. The firm raised at a $12 million valuation. 

In essence, ParaState provides Ethereum apps and smart contracts an on-ramp onto the Polkadot blockchain. "We aim to bridge the application and developer ecosystem between Ethereum and Polkadot," the firm's co-founder Marco Chen described. 

ParaState said it had originally targeted a $1.2  million round but oversubscribed by $100,000.  The firm said the funds will be used to expand its team and launch its mainnet. 

The funding round is the latest in the burgeoning DeFi world. Earlier this week, dYdX — a decentralized exchange – announced a $10 million Series B. Last week, Saddle, an automated market maker for stablecoins, went live after raising $4.3 million.

No other news.
No hay evento próximo.

3 coins to keep an eye on 👀

Subscribe to receive a weekly selection of 3 coins to watch closely, based on upcoming events and technical analysis.