An upcoming DeFi project positioning itself as the best cross-chain liquidity aggregator, Router protocol has announced a successful completion of its first round of seed funding. The project has raised a total of $ 480,000 from a prominent consortium made up of crypto, fintech and DeFi investors from Singapore, India and the US.
The router protocol is in the process of creating a DeFi ecosystem that bridges layer 1 and layer 2 blockchain solutions. In doing so, it contributes to scalability and drives greater penetration of DeFi solutions in a world still dominated by conventional financial infrastructure. Router accomplishes its mission by implementing a series of cross-chain liquidity infrastructure primitives.
By facilitating cross-chain interoperability, the router protocol connects blockchains to allow the free flow of information and value between them. In addition, it also provides the connected networks with smart order routing capabilities so that users can seamlessly exchange assets between them in the most transparent way.
In a recently published statement regarding the fundraising round, the Router Protocol team said,“We believe that in today’s DeFi environment and in the spirit of open source building, there is no need for flashy VC names and glamorous NDAs. It’s all about adding real value to the community and solving real problems instead of capturing the next wave of the eternal crypto hype cycle … “
With the recently raised funds, 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 router protocol development as it will make the router token readily available to the DeFi community long before it is listed on centralized exchanges. The Easy Access program for router was oversubscribed within 19 minutes of being posted.
Meanwhile, the project will soon introduce cross-chain farming to provide liquidity on Ethereum and Matic, which will be further expanded to other platforms in the near future. Liquidity providers on various exchanges such as Uniswap, 1Inch, Sushiswap and Dfyn will be able to wager their LP tokens and earn the router’s governance token – $ ROUTE.