Orbiter Finance, a remote provider of a decentralized cross-Layer 2 (L2) protocol, received an investment from OKX Ventures.
The amount of the deal was not disclosed.
The company intends to use the funds to expand operations and its development efforts.
Orbiter Finance is advancing a protocol that has integrated ZK Simplified Payment Verification (SPV) to authenticate L2 transactions on the mainnet and to arbitrate fraudulent re-layers via EVM. This establishes an efficient, low-cost and quick communication mechanism for Ethereum. Thanks to the fund security ensured by ZK-SPV, Orbiter Finance can now extend complete access to the ‘Maker’ role, marking the final step in achieving the ultimate goal in blockchain infrastructure: decentralization.
Over the last two years, Orbiter Finance has processed over 12 million transactions, amassing a total of over US$7.8 billionin total transaction volume. The protocol boasts a large user base exceeding three million and a thriving community of more than 700,000 users and fans.
FinSMEs
26/01/2024