Connext Weekly #73 - Total Valuation Hits $250M, Metamask Integrates Connext and Inverter Network Partnership
June 11-18, 2023
Welcome to a new week of the cross-chain world of Connext!
Let's dive in and explore the latest developments in the Connext Network Ecosystem👇
Subscribe to receive your weekly dose of cross-chain alpha every week 🟣
Connext Raised $7.5M at a Valuation of $250M
Connext just closed a $7.5m strategic fundraising round on a $250m valuation. This brings the total capital raised by Connext Labs to $23.2M as featured in Fortune Magazine.
The team explained Connext’s goal with this raise is to establish & fund the Connext Foundation, an organization that will be dedicated to stewarding the protocol by:
- Implementing a public RFC process for protocol improvements
- Coordinating with the many orgs contributing to protocol development
- Working with projects building in the ecosystem to help them succeed long term
We can’t wait to see Connext as the HTTP of Web3 in the making!
Metamask Integrated Connext
MetaMask, the most popular web3 non-custodial wallet, now offers routes supported by Connext!
You’ll see Connext quotes for bridge requests across Ethereum Mainnet, Polygon, BNB Chain, Optimism, and Arbitrum.
Try Metamask Bridge via Connext now here or click the button in the
extension.
Connext Partnered with Inverter Network
Connext partnered with Inverter Network, a versatile protocol that enables smart contract processes to allocate resources, unlocking project funding from any chain and cross-chain payments.
Some early use cases include:
Employee compensation, allowing users to receive payments on their preferred chain
Simplified accounting for the employer (funds are managed from a single chain);
DAO cooperation, for digital orgs that don’t “live” on the same chain
Read more about the partnership here.
Connext Community Call #6 Was Lit!
On Community Call #6, Connext Core Team discussed protocol updates, roadmap, and more!
The teams from OptyFi and Inverter Network unveiled the latest advancements in their protocols and shared some surprises for The Connext community.
Listen the recording here.
From the Connext Community
https://twitter.com/CryptoPorsh/status/1670066690732818433?s=20
https://twitter.com/FortuneMagazine/status/1668948330481692672?s=20
https://twitter.com/optyfi/status/1669779141036572699?s=20
https://twitter.com/optyfi/status/1668653653220294656?s=20
https://twitter.com/alpergintr/status/1669325623758553092?s=20
https://twitter.com/doganeth_en/status/1669058930872295434?s=20
https://twitter.com/binji_x/status/1669033485489643551?s=20
https://twitter.com/ConnextNetwork/status/1668532150344245248?s=20
://twitter.com/ethereumJoseph/status/1669379831283470338?s=20
(Tweets are not viewable because Twitter API is currently disabled on Substack.)
WEEK #73 BY THE NUMBERS
TOTAL VALUE LOCKED (TVL): $33,283,115
TOTAL VOLUME: $105,272,972
TOTAL TXS: 171,511
The graphic above shows the statistics only after the Amarok upgrade.
Check out the full metrics dashboard: transfers, routers, and status on ConnextScan.
Bridge, Swap, LP and Buidl with Connext.
About Connext Network
Connext is a modular interoperability protocol that lets you build secure cross-chain apps (xApps).
Website | Twitter | Medium | Docs | Connext Scan | Wiki (Community Owned)
Interact with other Contextors in your preferred language:
Chinese | Japan | Korean | Thai | Turkish | Russian | Spanish | Italian | Vietnam
Join The Official Connext Discord
Thanks for reading Connext Weekly!
Support The Newsletter👇
If you find our content useful, here’s how you can support:
Reply to this email with what you would like to read next
Tweet about us so we can know your thoughts
And most importantly: