Router Protocol, an upcoming DeFi project positioning itself as the best cross-chain liquidity aggregator, has announced the successful completion of its first seed funding round. The project raised a total of $ 480,000 from a prominent consortium of crypto, fintech and DeFi investors from Singapore, India and the USA.
The router protocol is in the process of creating a DeFi ecosystem that will create a bridge between Layer 1 and Layer 2 blockchain solutions. In this way, it contributes to scalability and promotes a greater diffusion of DeFi solutions in a world that continues to be dominated by conventional financial infrastructure. The router accomplishes its mission by implementing a number of cross-chain liquidity infra primitives.
By facilitating cross-chain interoperability, the router protocol connects blockchains in order to enable the free flow of information and values between them. In addition, the connected networks are equipped with intelligent routing functions for orders, so that users can seamlessly exchange assets between them in the most transparent way.
In a recent fundraising statement, the Router Protocol team said, “We believe that in the current DeFi environment and in the spirit of open source building, flashy VC names and glamorous NDAs are not required. It’s about adding real value to the community and solving real problems instead of capturing the next wave of the ongoing crypto hype cycle … “
With the funds raised recently, the Router Protocol will expand the team as well as the number of blockchains and blockchain solutions supported. The Easy Access program is another important step in the evolution of the router protocol as it makes the router token available to the DeFi community before listing it on centralized exchanges. The router easy access program was oversubscribed within 19 minutes of listing.
In the meantime, the project will soon roll out cross-chain agriculture to provide liquidity for Ethereum and Matic, which is expected to expand to other platforms in the near future. Liquidity providers on various exchanges such as Uniswap, 1Inch, Sushiswap and Dfyn can use their LP tokens and earn Router’s governance token – $ ROUTE.
