Grvt (pronounced “gravity”)a decentralized exchange (Dex) Focused on Privacy on On-chain finance, raised $ 19 million in Series A.
The cycle is led by Zkssync, its foundational technology partner, along with additional adventures, eigencloud (former eigenlayer) And 500 global, the company announced via email on Thursday.
Built in Zksync Validium L2, GRVT uses zero-knowledge (Zk) Proofs to ensure that transactions inherit security at Ethereum levels while maintaining trading details in private and low settlement costs. The company said this architecture corresponds to prolonged obstacles to the basic adoption of on-chain finance: privacy, scalability and access.
ZK technology is a cryptographic technique in which one party can present to another that one specific piece of information is true, without revealing anything about such information. This is an important aspect of blockchain-based financial aspects as it allows users to verify transactions and transfers without revealing anything about the sender, recipient, value.
“Privacy is not a compromise for the future of on-chain trading and investment,” said co-founder and CEO Hong Yes, who added that GRVT aims to set the standard for how zero-knowledge cryptography empowers the financial markets.
The rise came in the middle of a resurrection in Ethereum activity, along with August’s on-chain volume leading to $ 320 billionThe highest since mid-2021. Supporters see GRVT as a potential liquidity hub for a trillion-dollar on-chain finance market, with applications covering cross-exchange vaults, cross-chain interoperability, real-world assets, and outlined options, according to announcement.
