Add as a preferred source on GoogleMatrix Raises $7.5 Million to Advance Its BNB Chain Rollup
Funding will support mainnet work, zero-knowledge validity proofs and Stage 2 decentralization. The project’s Phase 1 testnet launched Oct. 3.
Matrix raised $7.5 million in Series B funding for its BNB Chain execution layer, which could increase the ecosystem’s effective transaction throughput three to five times.
The funding will primarily support a mainnet launch, development of a zero-knowledge validity-proof system and progress toward Stage 2 decentralization. ParaFi Capital, Tribe Capital, Point72 Ventures, CMT Digital, Lightspeed Faction, BITKRAFT Ventures and Makers Fund participated in the round.
Matrix is built on the Facet technology stack and adapted for BNB Chain’s PoSA consensus. Matrix has no centralized sequencer or administrator permissions, and BNB Chain determines transaction order.
The project’s Phase 1 testnet launched Oct. 3.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.