Kinetex, a decentralized platform enabling 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 empower 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’re excited to support Kinetex and its unique approach to incorporating Zk into cross-chain decentralized finance. With Kinetex Flash Trade, users are able to access many of the liquidity benefits and on-chain assets of centralized exchanges, but via a much more permissionless and credibly neutral system” says 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 improve 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. Scheduled to last three months, the test phase is geared towards identifying bugs and refining the user experience.
“Kinetex has effectively removed the need for liquidity pools and slippage in cross-chain transfers, epitomizing the level of innovation of DeFi projects building on Gnosis Chain” says Georgios Gontikas, Head of Bridges at Gnosis. “This partnership underscores our collective ambition: a more efficient and secure DeFi landscape.”
Gnosis Chain is the ideal testbed for Kinetex’s new technology because of 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 prejudice. Live information about the state of the network is available at https://gnosischa.in/charts.
To learn more about how Gnosis Chain can support your Web3 project, please visit gnosis.builders/developers.
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About Kinetex
Kinetex is a blockchain technology company focused on revolutionizing cross-chain trading. Co-founded in 2023 by Tigran Bolshoi and Mikhail Shishko, the company has already launched its first version of liquidity aggregation through the Kinetex dApp. Kinetex earned recognition by winning the ETH Global Hackathon in Paris for its innovative Zk light clients, setting a new standard for transaction verification.
For more information about Kinetex or to join the whitelist, please 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 over 150,000 validators in 75 countries, Gnosis Chain is one of the most decentralized blockchains, second only to Ethereum. Gnosis Chain’s agile development environment promotes innovation and simplifies application testing and deployment.
