ChainSwap, the cross-chain asset bridge and application hub, has raised $3 million funds to accelerate multi-asset application hub.
It has been reported that participants included some big names in crypto and decentralized finance, such as Alameda Research, OKEx’s venture arm Block Dream Fund, NGC Ventures, Spark Digital Capital, Metaconstant Ventures, CMS Holdings, Rarestone Capital, SRC Capital, DAO Ventures and a number of others.
However, the ChainSwap platform allows projects to seamlessly bridge between Ethereum, Binance Smart Chain, and the Huobi Eco Chain.
The $3 million cash injection will allow ChainSwap to add more cross-chain bridging solutions. https://t.co/lSjWCdozYV — Cointelegraph (@Cointelegraph) April 8, 2021
It plans to add cross-chain solutions for Bitcoin, Polkadot, and Solana in the future and has already begun with a Polkastarter bridge launched on March 21.
The report said that the protocol currently supports 18 tokens from various platforms including stablecoins Rai and Fei, Polkastarter’s POLS, Vortex VTX token, Strongblock’s STRONG, and a number of more obscure listings, which can be seamlessly swapped between the three currently supported blockchains.
Likewise, it plans to launch its own token, which will be airdropped for protocol users and holders of the AntiMatter token, MATTER. AntiMatter Finance is a lightweight on-chain DeFi perpetual derivative protocol currently running on testnet.
Thus, ChainSwap is one of a number of multi-chain platforms entering the DeFi space in recent months.