Flash News: OKX Ventures Announces Series A Investment in Taiko, a Decentralized, Ethereum-Equivalent ZK-Rollup

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Mar 02, 2024, 20:00 ET

SINGAPORE, March 2, 2024 /PRNewswire/ -- OKX Ventures, the investment arm of leading Web3 technology company OKX, has issued updates for March 2, 2024.

OKX Ventures Announces Series A Investment in Taiko, a Decentralized, Ethereum-Equivalent ZK-Rollup

OKX Ventures is pleased to announce its Series A investment in Taiko – a decentralized, Ethereum-equivalent ZK-Rollup.

Since 2022, Taiko has been a leader in innovation, conducting six successful testnets involving over 1,100,000 unique wallets, 30,000+ proposers and 14,000+ provers. With a bustling community of over 850,000 members on Discord and support for over 100 live apps, Taiko plays a crucial role in scaling Ethereum. It's building a decentralized, permissionless and secure Layer 2 architecture.

OKX Ventures Founder Dora Yue said: "We are thrilled to participate in Taiko's Series A funding round, the ZK-Rollup-based Ethereum Layer 2 network. We have participated in two of Taiko's funding rounds so far and applaud its growth over the past year. Taiko has consistently pursued its initial goal of building a fully decentralized network. It has decentralized sequencers and validators that allow developers to leverage the power of Ethereum Layer 1 without altering existing DApps deployed to Taiko. The mainnet is expected to launch in the first half of 2024, marking the next milestone and ushering in a new phase of growth."

About OKX Ventures

OKX Ventures is the investment arm of the second-largest crypto exchange by trading volume and Web3 technology company OKX, with an initial capital commitment of USD 100 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.

SOURCE OKX Ventures