Ethereum Bridge Router Protocol to Really wants to Build Its Very Own L1 With Proper Funding

Ethereum and BNB chain bridge Router Protocol just closed an oversubscribed funding round to increase the bridge to more systems.

Router Protocol, a modular mix-chain framework for building interoperable applications. By connecting different blockchain environments, bridges play a vital role in developing a more cohesive and streamlined network.

It had been launched in 2022 around the Polygon and BSC chains with the aim of creating existence simpler for future Web3 users.

Router Protocol stated in an announcement it has lately elevated greater than expected funds for more development—but did not disclose just how much. An investment recognized out of this raise will be employed to fuel its very own fully operational layer 1 blockchain, thus breaking from the Binance and Polygon ecosystem.

“Router Chain embodies the evolution in our unwavering vision to construct the universal interconnectivity layer between fragmented L1/L2 systems,” Ramani Ramachandran, Chief executive officer of Router Protocol, stated in an announcement.

The aim, he added, would be to eliminate complexity.

They is “laser-centered on delivering seamless and intuitive user and developer experience for multi-chain applications,” he added.

Based on Shubham Singh, the CTO of Router Protocol, the ecosystem has experienced an explosion with mix-chain projects like FolioX and StakeEase, that have made the decision to benefit from the Protocol’s unique characteristics to create a reputation for themselves.

In another development, Router Protocol has achieved a substantial milestone using the effective launch of Router Nitro. This mix-chain bridge leverages a cutting-edge reverse-verification approach to deliver speed and gas efficiency.

Since its launch, the Nitro bridge has facilitated over $350 million in volume, processed greater than 650,000 transactions, and attracted nearly 300,000 unique users within four several weeks.

This underscores the growing interest in seamless mix-chain interactions.

The Protocol will quickly launch an Ecosystem Grant for projects with potential customers that develop the Router Chain.

Edited by Stacy Elliott.