Kinetex, a decentralized platform that enables efficient cross-chain trading, has successfully completed its strategic funding round. Factor and Gnosis Chain lead this round, with Gnosis Chain being a community-owned EVM Layer-1 blockchain. This partnership will enable Kinetex to refine its cross-chain trading approach using zero-knowledge (Zk) technology, eliminating the need for asset pools and third-party validation.
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“We are excited to support Kinetex and its unique approach to integrating Zk into decentralized finance across the chain. With Kinetex Flash Trade, users can access many of the liquidity benefits and on-chain assets of centralized exchanges, but through a much more permissionless and credibly neutral system,” said Ken Li, partner at Factor.
“With the support of Gnosis Chain and Factor, Kinetex is poised to redefine DeFi.”
Tigran Bolshoi, co-founder of Kinetex
“Our upcoming innovations will significantly enhance our existing decentralized cross-chain protocol, allowing users to instantly and securely move liquidity between networks without trusting third parties and without the need to store TVL (Total Value Locked).”
Kinetex plans to launch its public testnet on Gnosis Chain early next year. The testing phase, which will last three months, is aimed at identifying bugs and refining the user experience.
“Kinetex has effectively eliminated the need for liquidity pools and slippage in cross-chain transfers, epitomizing the level of innovation of DeFi projects building on Gnosis Chain,” said Georgios Gontikas, Head of Bridges at Gnosis. “This partnership underlines our collective ambition: a more efficient and secure DeFi landscape.”
Gnosis Chain is the ideal testbed for Kinetex’s new technology due to their shared commitment to decentralization, transparency and inclusivity. Secured by a network of 150,000 validators worldwide, Gnosis Chain is open to everyone, without privilege or bias. Live information about the status of the network is available at https://gnosischa.in/charts.
To learn more about how Gnosis Chain can support your Web3 project, visit gnosis.builders/developers.
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About Kinetex
Kinetex is a blockchain technology company focused on revolutionizing cross-chain trading. The company was co-founded in 2023 by Tigran Bolshoi and Mikhail Shishko and has already launched its first version of liquidity aggregation via the Kinetex dApp. Kinetex was recognized by winning the ETH Global Hackathon in Paris for its innovative Zk light customers, setting a new standard for transaction verification.
To learn more about Kinetex or join the whitelist, visit kinetex.io or join the discussion on Discord, Twitter and Telegram.
About Gnosis Chain
Gnosis Chain is a community-owned Beacon Chain Ethereum Virtual Machine (EVM) Layer 1 blockchain that prioritizes credible neutrality. With more than 150,000 validators in 75 countries, Gnosis Chain is one of the most decentralized blockchains, second only to Ethereum. Gnosis Chain’s flexible development environment promotes innovation and simplifies application testing and deployment.