Router Protocol Raises $4.1M to Bridge EVM and Non-EVM Chains


Router Protocol, a venture geared toward connecting a number of blockchains, has raised a $4.1 million funding spherical.

Router, which raised $485,000 of seed funding final yr, now has the backing of Coinbase Ventures, QCP, De-Fi Capital, Polygon, Wintermute, Shima, Woodstock and Bison Ventures.

As the blockchain universe matures, liquidity is liable to being fragmented throughout a raft of chains akin to Avalanche, Polygon, Solana, Terra and Algorand.

“Rapid growth of various blockchains means the need of the hour is the ability for these to talk to each other through bridges and other forms of connectivity,” mentioned Router CEO Ramani Ramachandran. “Our unique selling point is that we can do EVM [Ethereum Virtual Machine] and non-EVM chains, as well as layer 1 and layer 2 networks.”

Read extra: ‘Bridge Szn’ Continues With $2M Raise for Stablecoin Connector Symbiosis

When it comes to liquidity bridges, the “big elephant in the room” is safety, says Ramachandran. Hacks are virtually a ceremony of passage on this area, and any system that units out to join networks is simply as safe because the weakest hyperlink within the protocols on both facet.

Router’s precaution is to join solely main, well-established blockchains, in addition to finishing a “five or six audits” on its code.