Zeus Network Raises $8M to Boost Blockchain Interoperability with Focus on Solana

Zeus Network, a novel initiative striving to increase the operating and collaborating capacity of blockchains, with a special focus on students shared between Solana and other big blockchains, has managed to gather $8 million through the recent financed round. This financial leg revealed the Mechanism Capital that echoes the industry’s cross-chain solutions. By raising money from investors to the tune of $100 million, Zeus had been seen to have a good business and proven project by many investors.

Zeus Network: Uniting Solana with major blockchains

The whole thing that drives the Zeus Network mission is the creation of a strong interoperability layer for the spacious and fastest blockchain network – Solana. This liquidity bridge of Solana and other top blockchains, e.g. BTC, LTC, and DOGE, is created so that it could enrich the existing community and facilitate convenient asset transfers among different blockchain platforms. The project’s principal piece is Apollo by aims to aggregate Bitcoin liquidity to Solana, while at that time Bitcoin owners can participate in DApps on Solana. Surprisingly enough, Apollos has already garnered more than 40,000 users across the globe within only four days that it has been in the user trial phase.

The investors’ round lured a group with interests as varied as OKX Ventures, Animoca Ventures, Big Brain Holdings, Lemniscap, and The Spartan Group, all of which are the evidence of multifaceted endorsements for the Zeus Network project. It has to be deepened that this level two saw one-time participation from important angel investors including, Solana Cofounder Anatoly Yakovenko, Stacks co-Creator Muneeb Ali, and Mechanism Capital Founder Andrew Kang. The combined institutional investors’ backing and buying from individual investors demonstrate a highly optimistic reckoning of the affordability of Zeus Network to the blockchain inter-operability space.

See also  Solana DeFi TVL soars 80% in a month: How will SOL react?

Funding strategy and valuation: A strategic approach.

Zeus Network`s cryptocurrency funding strategy was designed thoughtfully, being the seed funding round comprised of simple agreements for future equity (SAFE). This strategy allowed the project for process of fundraising to proceed in an unpredicted manner, and received investments in parts at different valuations deepening from $30 million to $100 million. The majority of the funds we secured is represented by valuation groups at $70M and $100M level. Those heightened groups reflect the increasing investors’ interest and assumed value for Zeus Network, which led to more capital at a later stage of the round. With Zeus Network’s founder and CEO Justin Wang saying that the strategic fundraising effort entered last September and it just ended last month as the next stage of project development, the network is ready to start onto another level of development.

The network started by Zeus should take up the mantle of coordinating the development of interoperability between blockchain technologies. As the Zeus Network utilizes the package of the Solana Virtual Machine for this purpose, it will make the network of nodes, can work together and provide the opportunity for the Solana connection to other blocked chains, possible. This project under the name of Zeus Layer will broadcast it as the utmost imperative move to the blockchain space for the creation of an ecosystem with more interrelated and manageable actions. In particular, the main idea behind the project is to allow singling out those infrastructures that would act as bridges between blockchains, and hence, will contribute to the decrease of the gaps among the digital assets.

See also  Silent Protocol unveils Ghost Layer, a modular Layer 1.5 for Ethereum

Looking Ahead: The influence of Chicago network ‘

In contrast to the biggest magnitude indicators, intense fluctuations can have a relatively low impact if the overall price trend is rising. This is called the Law of Dampened Stock Market Effects. With the growing adoption and scaling of the project, the project will bring about great opportunities for interoperability solutions to mark a great stride in improving the functionality of the Solana ecosystem as well as the beyond. Industry experts assert that once the users adopt the protocol, there will be a significant increase in the number of investors and a fully integrated and plural system of the entire blockchain functions will emerge. It seems that this attempt will leave a trace of how the digital assets are shared across all interfaces, resulting in a transformation into a hyper-cooperation world.

Source link