Today we are pleased to announce the completion of Series A funding for Zenlink, a cross-chain DEX protocol based on Polkadot. This round of funding was led by Alameda Research and followed by IOSG Ventures, Hashkey Capital, OKEx Blockdream Ventures, Hypersphere Ventures, SNZ Holding, SevenX Ventures, DFG, TRG Capital, PAKA. The angel round investors HashKey Capital and IOSG Ventures continued to invest in this round.
Since completing its angel round of funding in September 2020, Zenlink has grown rapidly, delivered two rounds of Web3 Foundation Grants while steadily advancing its product development, and reached deep cooperation with 10+ quality projects, accumulating a good community base and solid implementation of Roadmap. The funds raised in this round will continue to be invested in expanding development resources, driving integration, developer incentives, third-party security audits, and global market development to drive widespread adoption of Zenlink in the Polkadot ecosystem and prepare Zenlink for a successful launch and continued growth.
As an important protocol layer project in the Polkadot DeFi stack, Zenlink will play a key role in connecting the huge liquidity of the Polkadot DeFi ecosystem, such as helping parachain projects to deploy DEX and achieve liquidity sharing with one click, linking all DEX aggregation liquidity on the Polkadot. Parachain projects that are currently planning or have already started integrating the Zenlink DEX Protocol include Astar Network (Shiden Network), Bifrost, Acala Network (Karura Network), Moonbeam Network (Moonriver Network), and others.
Zenlink’s vision is to create the ultimate, open, and universal cross-chain DEX protocol and a new generation of cross-chain trading network, enabling Polkadot developers to easily build DEX and provide users with an efficient and smooth trading experience. We believe that the continuous improvement of Polkadot infrastructure and the development of Zenlink will bring more connectivity and imagination to the Web3 world.
About Alameda Research
Alameda Research was founded in October 2017. We manage over $1 billion in digital assets and trade $1–10 billion per day across thousands of products: all major coins and altcoins, as well as their derivatives. We have a full-scale global operation with the ability to trade on all major exchanges and markets.
About IOSG Ventures
IOSG Ventures, founded in 2017, is a community-friendly and research-driven early-stage venture firm across China, the US and Singapore. We focus on open finance, Web 3.0 and infrastructure for decentralized economy. Our portfolio covers more than 60 projects, including the Layer 1 (NEAR, Polkadot, Cosmos), DeFi (1inch, Synthetix, UMA). We commit ourselves to working alongside various developer & DAO communities and helping the most aspiring founding teams to achieve success. As a developer-friendly fund with long-term values, we launch Kickstarter Program which offers capitals and resources for innovative and courageous developers.
About Hashkey Capital
We are HashKey Capital，who combines the agility and independent risk-taking traditionally found in the most successful venture firms, together with differentiated access to the network of relationships found in one of the world’s largest industrial and financial conglomerates. And as one of the most experienced global blockchain investors based in Asia, we offer unrivalled knowledge of the region’s blockchain ecosystem, with a network connecting entrepreneurs, investors, developers, community participants, and regulators.
About OKEx Blockdream Ventures
OKEx Blockdream Ventures support the most cutting-edge blockchain technology innovation, promote the sustainable development of the global blockchain industry, and focus on long-term structural value investment.
The initial capital of OKEx Blockdream Ventures is $100 million. We will bring forward our global resources and historical experience. We are committed to helping entrepreneurs who contribute to the development of the blockchain industry to build great companies.
About Hypersphere Ventures
Hypersphere Ventures was founded by Polkadot co-founders Robert Habermeier and Jack Platts, who was previously deeply involved in the Polkadot ecosystem project at the Web3 Foundation for over two years. Jack Platts currently serves as an advisor to the Web3 Foundation and continues to support the Polkadot ecosystem through the Hypersphere Ventures.
About SNZ Holding
SNZ is a crypto fund founded by a group of engineers, blockchain evangelists and entrepreneurs passionate about disruptive blockchain technologies. We envision blockchain as a way to restore the original spirits of the internet and an opportunity to build a better future with protected privacy, validated information, distributed supercomputing, digitalized assets and beyond.
About SevenX Ventures
SevenX Ventures is a research-driven blockchain investment firm that adheres to immersion investing, with a team that fully empowers project owners in terms of market, economic system, and resources. The portfolio includes Bifrost, Oasis, Parastate, MaskBook, Das, Litentry, Crust, Darwinia, MXC, Dodo, Vega, Opium, Furucombo, DAO Maker, DeepDAO, Finnexus, Kine, Zerion, Poolz finance, YGG. MXC, Dodo, Vega, Opium, Furucombo, DAO Maker, DeepDAO, Finnexus, Kine, Zerion, Poolz finance, YGG.
Digital Finance Group (DFG) is a global blockchain and cryptocurrency investment firm, founded in 2015 with assets under management of over $1 billion. We focus on the discovery and creation of value through our investment and research team thanks to analytical research based on the most impactful and promising global blockchain and Web3.0 projects that will bring a paradigm shift to the world.
About TRG Capital
TRGC is a digital asset fund focused on investment opportunities that will spark the internet’s next paradigm shift. TRGC invests exclusively in liquid digital currencies, assets and tokens, supporting exceptional project teams that are utilising blockchain technology to usher in the internet’s next architectural shift. Through a research-driven and rigorous bottom-up investment process, TRGC looks to generate asymmetric risk-adjusted across all spectrums of digital assets.
PAKA is a DAO fund, which is jointly established by the founders of Stafi, Phala, Bifrost, Crust and Litentry, focusing on both hatching and investing teams with robust and innovative technology to support of Polkadot ecosystem. PAKA aims to support top-level technologies and products for Polkadot ecology, making Polkadot the ultimate blockchain infrastructure.
Zenlink is an underlying cross-chain DEX protocol based on Polkadot and is committed to become the DEX composable hub of Polkadot. By accessing the ultimate, open, and universal cross-chain DEX protocol based on Substrate, Zenlink DEX Protocol enables all parachains to build DEX and achieve liquidity sharing in one click. Zenlink DEX Protocol includes Module, WSAM, and EVM implementations, which are flexible and adaptable, allowing for customizable compositions and interoperability with different DeFi modules.
In addition, the Zenlink DEX Aggregator connects all DEX DApps on Polkadot and aggregates liquidity, providing a low slippage trading experience for users. Zenlink DEX Composable Hub enables developers to access the Zenlink DEX Module to build their own unique DEXs, forming a DEX composable hub for the Polkadot ecosystem. Currently, Zenlink has received 2 rounds of Web3 Foundation Grants and investments from well-known institutions such as Alameda Research, Hashkey, IOSG, Continue, and Hypersphere.
Learn more about Zenlink
Zenlink Completes Series A Funding Led by Alameda Research was originally published in Zenlink Foundation Ltd. on Medium, where people are continuing the conversation by highlighting and responding to this story.