September 17, 2024
Chris Larsen, one of Ripple’s co-founders, has spearheaded a $10-million seed funding round for Yellow Network, a decentralized clearing network designed to tackle inefficiencies in the cryptocurrency market. This investment will help address issues such as liquidity fragmentation, scalability, and capital efficiency in the digital asset market. Other significant supporters include Consensys, GSR, NxGen, MV Global, Gate Labs, ZBS Capital, Moonrock Capital, Math, Cobo, NOIA Capital, and LD Capital.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
Yellow Network | $10M | September 17, 2024 | Seed Round | Ripple Co-Founder | Web3 |
Yellow Network’s decentralized clearing protocol aims to tackle significant challenges within the industry. Utilizing state channel technology, this chain-agnostic network enhances capital efficiency, reduces latency, and scales effectively to meet the demands of the growing digital asset market. Chris Larsen highlighted the protocol’s importance for new entrants, describing it as a transformative solution that offers rapid trade execution and improved capital efficiency.
About Yellow Network
Yellow Network is a decentralized clearing system designed to improve the efficiency of cryptocurrency trading. It uses state channel technology to facilitate real-time, cross-chain trading without the need for brokers to bridge assets. This setup helps reduce latency, enhance capital efficiency, and aggregate liquidity from multiple exchanges. By connecting various blockchain networks, Yellow Network aims to create a more seamless and scalable trading environment for digital assets.
Website: https://www.yellow.org/
X Followers today: 113,702
X Followers 30 days ago: 64,406
X Change: 49,296 (+76.54%)
About Investor
Chris Larsen, one of Ripple’s co-founders, has spearheaded this funding round.
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
Σχόλια