Grvt (pronounced “gravity”)a decentralized exchange (Dex) Focused on privacy in financing on chain has collected $ 19 million in Serie A Financing.
The round was co-led by Zksync, its basic technology partner along with additional ventures, eigencloud (Former Egelayer) And 500 Global announced the company via E email on Thursday.
Built on ZKSYNC Valid L2, uses GRVT zero-knowledge (Zk) Proof to ensure that transactions inherit Ethereum-level security while the trading information is private and settlement costs make. The company says this architecture addresses long-standing barriers to mainstream resolution of financing on chain: privacy, scalability and accessibility.
ZK technology is a cryptographic method in which one party can demonstrate to another that one particular piece of information is true without revealing anything about the said information. This is an important facet of blockchain-based financing as it allows users to verify transactions and transfers without revealing anything about the sender, the recipient, the amount.
“Privacy is uncompromising for the future of trade and investment on chain,” said co-founder and CEO Hong Yea, adding that GRVT is aiming to set the standard for how zero-knowledge cryptographic forces financial markets.
The swelling comes in the midst of a resurgence in Ethereum activity, with August’s volume on chain on the topping of $ 320 billion, the highest since mid-2021. Backmen see GRVT as a potential liquidity nap for a trillion dollar on hunting financing market, with applications spanning cross-bargain, transverse chain inter operability, real-world assets and structured options, according to the message.
