SINGAPORE, July 16, 2024 — OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today announced that it has invested in zkLink. zkLink Labs develops zero-knowledge (ZK) infra solutions for the blockchain ecosystem with the goal of scaling and unifying assets across Ethereum and Ethereum Layer 2 Rollups (L2s).
zkLink’s flagship Aggregated Layer 3 zkEVM network (L3), zkLink Nova, aims to reduce liquidity fragmentation – trapped capital across multiple siloed blockchains – while providing security and scalability via zk-Proofs. Nova offers users an open platform to tap into aggregated assets for capital efficient transactions on a single L3.
zkLink Nova launched its mainnet in mid-March, securing a total value locked (TVL) of $1.05 billion in under two months. In addition, the L3 has garnered over 1 million unique wallet addresses, processing over 17 million transactions across nine integrated ecosystems including Ethereum and its ZK and Optimistic Rollups. These include Arbitrum, Optimism, Base, zkSync, Linea, Scroll, Manta Pacific, and Mantle.
zkLink’s potential to provide a unified platform for dApps and users, coupled with its commitment to security, positions it as a game-changer in the DeFi sector. This makes the Layer 3 rollup network an attractive investment for OKX Ventures, which invested in zkLink in December 2023.
OKX Ventures Founder Dora Yue said: “zkLink’s new aggregation solution is pivotal for expanding the Web3 user base in a security-first manner. It provides its users access to previously isolated assets across different rollups, benefiting the overall ecosystem. Its unique offerings, such as multi-chain assets and aggregated liquidity pools, not only unify diversified assets but also encourage new DeFi primitives. We are delighted to see that zkLink Nova has been growing steadily, becoming the largest Layer 3 network on Ethereum. We are looking forward to further refinements from zkLink and potential integrations with more DeFi products.”
About OKX Ventures
OKX Ventures is the investment arm of global leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.
Find out more about OKX Ventures here.
About zkLink
zkLink develops zero-knowledge blockchain solutions for the Ethereum ecosystem. Its flagship zero-knowledge Aggregated Layer 3 zkEVM Rollup network, zkLink Nova, is designed to bridge the gap among different Layer 2 rollup ecosystems to reduce liquidity fragmentation while providing security and scalability via zk-Proofs.
zkLink is funded by notable backers including Coinbase Ventures, Solana Ventures, SIG DTI, Huobi Ventures, Efficient Frontier, and others.
Find out more about zkLink here.
SOURCE OKX Ventures
