Grvt Raises $19M to Bring Privacy and Scale to On-Chain Finance

Grvt (pronounced "gravity"), a decentralized speech (DEX) focused connected privateness successful on-chain finance, has raised $19 cardinal successful Series A funding.

The circular was co-led by ZKsync, its foundational exertion partner, on with Further Ventures, EigenCloud (formerly EigenLayer) and 500 Global, the institution announced via email connected Thursday.

Built connected the ZKsync Validium L2, Grvt uses zero-knowledge (ZK) proofs to guarantee transactions inherit Ethereum-level information portion keeping commercialized details backstage and colony costs low. The institution says this architecture addresses long-standing barriers to mainstream adoption of on-chain finance: privacy, scalability and accessibility.

ZK exertion is simply a cryptographic method successful which 1 enactment tin show to different that a definite portion of accusation is true, without revealing thing astir said information. This is an important facet of blockchain-based concern arsenic it allows users to verify transactions and transfers without revealing thing astir the sender, receiver, amount.

“Privacy is uncompromising for the aboriginal of on-chain trading and investing,” said co-founder and CEO Hong Yea, adding that Grvt aims to acceptable the modular for however zero-knowledge cryptography powers fiscal markets.

The rise comes amid a resurgence successful Ethereum activity, with August’s on-chain measurement topping $320 billion, its highest since mid-2021. Backers spot Grvt arsenic a imaginable liquidity hub for a trillion-dollar on-chain concern market, with applications spanning cross-exchange vaults, cross-chain interoperability, real-world assets, and structured options, according to the announcement.