SINGAPORE , Aug. 5, 2021 /PRNewswire-PRWeb/ — Router Protocol is building a suite of cross-chain liquidity infra primitives that aims to seamlessly provide bridging infrastructure between current and emerging Layer 1 and Layer 2 blockchain solutions. Router has announced partnerships with multiple protocols, including Polygon, Avalanche, Elrond, Algorand, HECO, Chainlink, and OKEC, and plans to launch its mainnet in the next few weeks. Router Protocol’s testnet went live last week and can be accessed at https://testnet.routerprotocol.com/ .
Dfyn is a multi-chain AMM DEX currently functional on Polygon, and has also been developed by the team behind Router. Dfyn nodes on various chains act as liquidity entry and exit points into the cross-chain liquidity super mesh that is being enabled by Router Protocol. Dfyn has most recently launched on OkExChain, and plans to expand support to multiple blockchains including emerging L2 platforms.
Router Protocol seamlessly connects blockchains, enabling liquidity to seamlessly flow between these chains. This is increasingly important in a world where liquidity is getting fragmented across chains apart from Ethereum. Beyond cross-chain swaps and transfers, Router’s bridging infrastructure can enable a host of use cases in lending, money markets, and governance across chains and is truly the dawn of cross-chain in DeFi.
Surojit Chatterjee was a former Head of Product for the Indian e-commerce giant Flipkart and served as VP of Product at Google until the beginning of 2020. Last year, Chatterjee joined Coinbase, where he serves as the Chief Product Officer. While this investment is in Chatterjee’s personal capacity, it clearly resonates with his professed goal of using Coinbase as an enabler to deliver economic freedom to everyone. “Crosschain liquidity migration is a key problem currently and the combination of the DFYN multichain AMM mesh and the Router XCLP Crosschain Protocol has real potential to be a pioneer in this space “, Chatterjee commented.
Gokul Rajaram is often referred to as the Godfather of Google AdSense, and has headed product development at companies such as Facebook and Square subsequently. In addition to his role on the board of Coinbase, Rajaram is also on the board of consumer-focused unicorn Pinterest. Commenting on his investment, Rajaram had this to say – “The team behind Dfyn and Router have been building and iterating and experimenting in the crypto space for a while now, and that level of continuous innovation has been key to building up to the current product suite which has a high degree of product-market fit and significant growth potential in a DeFi market that is poised for take-off”
Dfyn has been growing rapidly since its IDO (Initial DEX Offering) on launchpad platform Polkastarter on May 10th. Within a month after its full-fledged launch, it crossed a billion dollars in lifetime traded volume, and it is one of the top Dapps on the Polygon network, even before full-fledged expansion to other chains such as the OKExChain node that was recently announced. The Dfyn Network has come a long way in a very short period of time, with a very strong community at the heart of it. Dfyn currently has almost $300 million in liquidity added by the community and has saved it’s users tens of millions of dollars by offering a feeless i.e. gasless trading experience on Polygon. DFYN investors include CMS Holdings, QCP, De-Fi Capital, Shima Capital, Krypital, AU21, GBIC, DFG, Spark Capital, Signum Capital, Rarestone Capital, Aave’s Ajit Tripathi, as well as Polygon co-founder Sandeep Nailwal among others.
Router Protocol is now embarking on a growth round with confirmed participation from leading investment funds as well as major blockchain platforms. The funds raised will be used to build upon and augment Router Protocol’s technical and marketing capabilities.
Commenting on the addition of Rajaram and Chatterjee to the cap table, Ramani Ramachandran, CEO/Co-founder of Dfyn & Router Protocol had this to say – “We have gone from a niche DeFi project to a fast-growing DeFi ecosystem in less than six months. With decades of combined experience in building and scaling industry-defining products to billions of users at companies such as Google, Coinbase, Doordash and Flipkart, their involvement add a different dimension to the team and will help us scale the product suite to serve the next wave of retail and institutional DeFi adoption across blockchains”.
Priyeshu Garg, Router Protocol, +91 8076140255, [email protected]
SOURCE Router Protocol