Cross-Chain Bridge Platform Across Secures $41 Million in Strategic Token Sale

Cross-chain bridge platform Across has raised $41 million in a strategic token sale, attracting top venture capital firms in the crypto industry. The funding is part of Across Protocol’s effort to unify Ethereum via a cross-chain, intent-powered interoperability.

The Need for Interoperability in web3

The growth of web3 has led to significant improvements in scalability and reduction of transaction costs through top Ethereum layer 2 scaling solutions. However, this has also resulted in fragmented liquidity and a barrier to user experience due to disconnected chains.

Intents, a new infrastructural push, aims to provide a unified chain experience for users. The goal of Across Protocol is to bring this to users, and the recent funding provides the necessary capital injection to make this a reality.

Achieving Seamless Cross-Chain Experiences

The Across Protocol team stated,

“Our goal from inception is to accelerate the transition to seamless cross-chain experiences when users move between two chains. Our north star has always been two-second-bridging, no matter how many chains are involved. This latest raise further empowers us to achieve that vision.”

To advance this goal, Across will use the new funding to accelerate development of its core bridging infrastructure, add to current integrations, and fund technical advancements in cross-chain intent execution.

Key Developments and Partnerships

Venture capital firm Paradigm led the new funding round, with participation from Coinbase Ventures, Bain Capital Crypto, and Multicoin Capital. Across also received investment support from angel investor Sina Habinian.

The protocol currently integrates with Hyperliquid, Kraken’s Ink, Sony’s Soneium, and over 40 decentralized applications. Additionally, Across Protocol recently launched on Unichain, a decentralized L2 powered by Uniswap.

Benefits of Interoperability for Users

With this interoperability breakthrough, users can benefit from a seamless on-chain experience, unrestricted by the capabilities of the chain they are on at any one time. This means users can:

• Trade on Arbitrum
• Stake on another chain like Optimism
• Find the hottest token deal on Base
• Enjoy a unified chain experience across all platforms

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