Polkaswitch Secures $3M in Seed Funding To Build Cross-Chain Exchange, Led by Arrington Capital and Ascensive Assets

We are beyond excited to announce our team has secured $3M in seed funding to help build the long awaited cross-chain liquidity protocol for Polkadot and Ethereum. A big thanks to Arrington Capital and Ascensive Assets for leading the way followed by further support from Signum Capital, LD Capital, Bitscale Capital, DFG, Skynet Trading, Waterdrip Capital and Vendetta Capital.

Polkaswitch will utilize Polkadot’s scalable architecture and Ethereum’s network effects and mature developer toolset. With these 2, we aim to build a powerful DeFi primitive for seamless cross-chain swaps.

“We see a large opportunity to aggregate decentralized liquidity across multiple blockchains, starting with Polkadot and Ethereum,” said Viveik Vivekananthan, Founder & CEO of Polkaswitch. “For the first time, the reality of decentralized finance will be able to match the promise of global access, full interoperability, and deep liquidity with useful tools for cross-chain ecosystems.”

Ninor Mansor, Partner at Arrington Capital, stated, “The promise of a multi-chain future is only dampened by increasingly fragmented liquidity, especially as DeFi emerges in other L1 ecosystems. Polkaswitch brings an experienced team, leveraging the native capabilities of Moonbeam, to deploy one of the first cross-chain liquidity aggregation protocols. Its unique approach allows users to identify and execute trades across blockchains, providing optimal routing for decentralized exchange at scale.”

Our team of industry veterans with backgrounds that include Apple, Amazon, Oracle, and LinkedIn, are excited to bring to you the Polkaswitch testnet in Q1 of 2021 with plans to launch our mainnet and asset exchange platform in Q2/Q3 of 2021.

Over the next bit, we will be on-boarding resources to cover a number of areas, including engineering, user experience design, and ecosystem development, marketing, and liquidity services. As well as additional resources to help grow Polkaswitch’s ecosystem include legal counsel, security partners, and technology auditors to ensure a safe protocol launch.

Lots of updates will be coming your way, partnerships, token distribution details, exchange listing and much more. Be sure to join our Telegram chat and announcements channel listed below, also follow us on Medium and Twitter to stay updated.

Interested in helping us and joining the team? Get in touch.

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Medium: https://medium.com/polkaswitch

Telegram Announcements: http://t.me/polkaswitchANN

Telegram Official Chat: http://t.me/polkaswitch

Twitter: https://twitter.com/polkaswitch

Email: team@polkaswitch.com

Website: https://polkaswitch.com/