zkTube Labs, a Melbourne, Australia-based Ethereum Cross-Rollup Layer 2 protocol, completed a $15m round of funding.
The round was led by the Singapore DASH Foundation with participation from Canada OneUni Capital, Amplio Capital (Bitmart), Chainfir Capital, YFund, July Capital and other institutions.
The funds raised will be used for the comprehensive operation of the Mainnet after its launch on September 10th including Mainnet mining, PayTube Wallet, and the Layer 2 ecosystem construction. The funds will also help strengthen brand promotion globally, community building, and expansion of the team in several geographies.
zkTube is a network protocol based on Ethereum Layer 2 technology ZK-Rollup. Among other things, the protocol aims to solve Ethereum’s growing problems of congestion, delays when processing transactions, and high gas fees, all while maintaining Layer 1 security. To date, zkTube has achieved several notable technical and operational milestones, including the optimization of the PLONK algorithm, a testnet iteration, the completion of the beta version of PayTube, and its Mainnet launch, among others.
Next goals include listing its coin ZKT on different exchanges. They are also expanding their global presence with a growing team in Canada and Dubai.
FinSMEs
20/09/2021