Berlin, Germany, November 25, 2022, Chainwire
Berlin, Germany, XX November 2022 – t3rnthe next-generation multi-chain fail-safe protocol, raised $6.5 million in a strategic funding round led by Polychain Capital, the world’s leading digital asset investment fund.
This strategic funding round also counted among its investors Blockchange, Lemniscap, D1 Ventures, Houbi Ventures, Figment Capital, Bware Labs, MEXC, Open Process Ventures, NetZero Capital, and an array of industry-leading angel investors, many of whom are prominent founders.
“The future of Web3 is multi-channel,” said Maciej Baj, Founder and CTO of t3rn. “This means that transactions on multiple blockchains can and should be as simple and secure as those on a single chain. t3rn supports this new cross-chain programming paradigm. This round of strategic financing supports the development of our innovative approach to block chain interoperability”.
“Interoperability between Layer 1 blockchains and the applications built on them will help improve efficiency and liquidity across the ecosystem by reducing fractured liquidity pools and increasing composability across different execution environments. “, said Ben Perszyk, partner at Polychain Capital. “t3rn is building an expressive protocol for generalizable function calls across different strings – an ambitious undertaking that will unlock new behaviors for crypto builders and users.”
“It’s one thing to say we need interoperability across blockchains and quite another to actually build it,” said Ken Seiff, managing partner at Blockchange Ventures. “t3rn actually does it. They enable the future where smart contracts can actually run across chains instead of being bound by a chain or being forced to work across risky bridges.
Roderik van der Graaf, Founder and Managing Partner of Lemniscap, said, “Given the contours of today’s multi-blockchain environment, the need for smart contract interoperability has never been more pronounced. At Lemniscap, we are particularly excited to lead the development of multi-chain solutions and cross-chain interoperability. As a forerunner in the field, t3rn greatly expands accessibility to multiple decentralized applications, allowing developers to seamlessly build cross-chain applications. »
t3rn enables interoperability of fail-safe smart contracts, no matter how many different blockchains are involved, with the simplicity of an SDK. And unlike bridges, t3rn allows multi-step transactions to be dialed across different chains in a single call.
Protocol also announces the completion of its second grant from the Web3 Foundationto continue developing XBI, an innovative standard based on XCM for intelligent contract communication.
Jacob Kowalewski, Chief Strategy Officer at t3rn, said, “We are extremely proud to not only have the support of some of the biggest investors in the industry, but also to consistently provide ambitious grants for the Web3 Foundation. In an era where multi-channel solutions are hampered by hacks and exploits, at t3rn we are committed to creating a revolutionary solution in a measured way, and we look forward to becoming a central part of a secure multi-channel world.
t3rn is a multi-chain protocol that brings failsafe interoperable execution and smart contract composability to the Spotted ecosystem and beyond.
The ultimate goal of t3rn is to enable trustless collaboration across blockchains and create an ecosystem where anyone can use and deploy an interoperable smart contract, in an ecosystem where developers are fairly rewarded for their contributions. Welcome to the next generation of multi-string composability.
For more information, please visit www.t3rn.io