March 20, 2024
Morph, a fully permissionless Ethereum Virtual Machine (EVM) layer-2 protocol, has raised $19 million in a seed funding round. DragonFly Capital led the round, which also included Pantera Capital, The Spartan Group, MEXC Ventures, Foresight Ventures, MH Ventures, Public Works, Symbolic Capital, and Everyrealm. An additional $1 million was raised in an earlier angel round.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Morph | Mar 20, 2024 | $19M | Seed | $20M | Dragonfly | Layer 2 |
Morph combines optimistic and zero-knowledge rollup technologies to create a user-friendly development environment for decentralized applications (dApps) in the finance, gaming, social media, and entertainment sectors. It aims to address the blockchain trilemma by balancing decentralization, security, and scalability, which is crucial for the mass adoption of blockchain technology.
The platform is designed to offer a developer-friendly pipeline, supporting projects from the initial stages through to potential token listings. The technology is built on three core pillars: decentralized rollup technology, optimistic zkEVM integration, and a modular design. Morph is also the first Ethereum layer-2 solution to feature a decentralized sequencer, allowing multiple entities or nodes to participate in sequencing and reducing the potential for transaction order manipulation.
The funds from this seed round will be used to expand the engineering team, enhance technical infrastructure, and increase marketing efforts to boost visibility within the L2 ecosystem. Morph aims to provide developers with the necessary tools to create dApps that can achieve long-term success and attract a mainstream user base.
About Morph
Morph is a fully permissionless Ethereum Virtual Machine (EVM) layer-2 protocol that leverages optimistic and zero-knowledge rollup technologies to provide a scalable, secure, and decentralized platform for developers building finance, gaming, social media, and entertainment applications.
Website: https://www.morphl2.io/
X Account: https://x.com/Morphl2
X Followers today: 46,483
X Followers 30 days ago: 20,994
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About Investor
Investor: DragonFly Capital
DragonFly Capital, a venture capital firm known for investing in early-stage blockchain and cryptocurrency projects, led the seed funding round. DragonFly Capital supports startups with the potential to drive significant advancements in the blockchain industry.
Location: United States
Website: https://www.dragonfly.xyz/
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