Raze Network Collects $2.2M to Build Private DeFi on Polkadot
SINGAPORE / ACCESSWIRE / April 19, 2021 / Raze Network, a Substrate-based blockchain enabling private decentralized finance (DeFi), has successfully completed its fundraising efforts after collecting over $2.2 million from venture investors in private and seed rounds.
The seed round, held early in March, saw participation from major funds such as Signum Capital, AU21 Capital, CMS Holdings, Spark Digital Capital, Master Ventures, PNYX, Moonwhale and Flurry Capital.
In the subsequent private sale, OKEx Block Dream Fund, Tenzor Capital, Lotus Capital, Arpa Labs, X21 Digital, Illusionist Group, AngelONE, GAINS Associate, Evangelion Capital and Kyros Ventures, showed their support to Raze Network. Some of the funds who had previously invested also joined the private round.
Raze Network is a Substrate-based cross-chain privacy protocol in the Polkadot ecosystem. It builds on the Zether framework co-authored by Dan Boneh, one of the most prolific researchers in the zero knowledge space. Raze Network improves on Zether by utilizing Efficient Sigma Bullets, an improved encryption algorithm over the original proposal.
The zero knowledge proving technology used by Raze Network does not require trusted setups and is specifically made for use on account-based blockchains such as Ethereum or Polkadot. The Raze Network blockchain uses zero knowledge proofs to create private assets that are completely untraceable from the outside. Anyone can “shield” their token to receive a private version of it, and then seamlessly redeem it back into the transparent representation.
Raze Network is fully interconnected with the Polkadot ecosystem and is homogenous, supporting all Polkadot-based assets. It is also fully interoperable with Ethereum, providing a useful bridge to the smart contract blockchain. Raze also supports anonymity mining, a special twist on liquidity mining that maintains user privacy.
Raze Network CEO Justin Kellison adds:
“We executed the $RAZE Token launch via a Triple IDO + Eco Launch + Balancer LBP combination. We pride ourselves in doing this launch in the most crypto-characteristic way. Through this, we had the opportunity to witness the level of support and unprecedented love this supportive space had for us.
By using multiple seasoned whitelisting and IDO processes, we believed we protected our community and RAZE token launch from malicious acts and also got blown away by the number of whitelist requests we have received”, Justin adds.
The company concluded it’s IDO’s on several platforms like Bounce, DuckStarter, Gate.io and Poolz and started a Liquidity Bootstrap Pool on Balancer and a TGE (Token Generation Event) on Uniswap.
About Raze Network
Raze Network is a Substrate-based cross-chain privacy protocol for the Polkadot ecosystem. It is built as a native privacy layer that can provide end-to-end anonymity for the entire DeFi stack. The Raze Network applies zkSNARKs to the Zether framework to build a second-layer decentralized anonymous module. It will then be imported as a substrate-based smart contract. The objective of Raze Network is to enable cross-chain privacy-preserving payment and trading systems while protecting the transparency of your assets and behaviors from surveillance.
Justin Kelliso, CEO
View source version on accesswire.com: