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Orbiter Finance’s cross-chain bridge attracts a total of over 3 million users who want to exchange assets between different Layer 2 rollup networks. Additionally, the protocol recently announced a strategic investment of an undisclosed amount from OKX Ventures.
The protocol is currently planning to add its own L2. It’s Orbiter Rollup, a “meta-layer” with new zero-knowledge proof capabilities. (Orbiter Finance is not to be confused with Orbit Chain, a similarly named bridge protocol that was hacked earlier this month.)
The team at Orbiter touts Orbiter Rollup as preparation for an “omni-connected” future. “With a simple click of the interface, users can transfer all data, not just assets, to any L2,” the team said in the announcement.
With Orbiter Rollup, we expect this protocol to become the layer for accessing all other L2s. “Eventually, we believe that across Layer 2 environments, users will only need one EVM-compatible account to seamlessly explore the Ethereum ecosystem.” , competes with other ZK-based L2 networks such as Polygon zkEVM.
Orbiter’s team has not announced plans for the token. ”“The Orbiter Finance team’s primary focus is currently on product development and improving the user experience,” reads an FAQ on the company’s website.
Disclaimer: The Block is an independent media outlet that delivers news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful, and timely information about the cryptocurrency industry. Current financial disclosure information is as follows:
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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