Polychain Capital Led $6.5M Strategic Funding Round to t3rn
- t3rn, the next-generation fail-safe multichain protocol has raised $6.5 million in a private funding round.
- t3rn would make cross-chain transactions easier.
The world’s top investment firm for digital assets, Polychain Capital, launched a strategic funding round that raised $6.5 million for t3rn, a Polkadot-based blockchain interoperability protocol with the aim to make cross-chain transactions easier.
t3rn would support this innovative approach to cross-chain programming and it implies that cross-chain transactions simple and secure as those on a single chain. Also, this strategic funding round aids in the growth of t3rn’s cutting-edge strategy for blockchain interoperability.
Maciej Baj, Founder and Chief Technology Officer of t3rn said;
Interoperability between layer-1 blockchains and the applications built on top of 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.
Top Firms Participated in Funding Round
Top-tier investors like Angel investors, Huobi Ventures, Figment Capital, Open Process Ventures, and NetZero Capital joined the strategic fund round. Also, many of the well-known founders Blockchange, Lemniscap, D1 Ventures Bware Labs, MEXC, and Open Process Ventures were included in the fund rise.
t3rn has participated in the Substrate Builders Program and has supported the growth of the Polkadot ecosystem since its start. Further, the multichain protocol offers fail-safe smart contract interoperability with the flexibility of an SDK. And, t3rn enables the creation of multi-step transactions across many chains with just one request, as bridges.
However, last year, the project received $1.35 million in a seed round. Moreover, the protocol also announces the fulfillment of its second grant from the Web3 Foundation, which will be used to advance the development of XBI, a ground-breaking standard for smart contract communication built on XCM.