Raydius announces official entry into zkSync and secures investment from Binance Labs Raydius

PRESS RELEASE

Published on September 8, 2023

In the dynamic landscape of blockchain technology, the focus is now clearly on Layer 2 solutions such as Optimism, Arbitrum, zkSync and Starknet. With recent launches and token distributions, zkSync has emerged as a frontrunner. With over 3 million independent addresses, a whopping $4.58 billion in funding, and $700 million in locked assets, zkSync is poised to advance groundbreaking projects.

Raydius, an experienced Layer 2 infrastructure service provider founded by Binance Labs, has officially joined the zkSync ecosystem. Building on zkSync, Raydius introduces an innovative launchpad platform and positions itself as a hub for high-quality projects within zkSync. As a bridge between early-stage projects and the crypto community, Raydius also offers project research and valuations to mitigate risks for investors.

Backed by investments from Binance Labs, Blocksync Ventures, MoonWhale, GBV Capital, Kryptos and LD Capital, Raydius has become a prominent player in the space. Their focus on product development, user service, and extensive experience in blockchain development and cryptographic algorithm research have contributed to their success. Before Raydius joined zkSync, he had already made a name for himself in the Layer 2 space by introducing innovative features. In particular, the Raydius Bridge Aggregator simplifies the process of switching between different cryptocurrencies, allowing users to choose different applications, supported assets and optimal fees through Raydius.

Additionally, Raydius facilitates two-way bridging with other Layer 1 and Layer 2 ecosystems by implementing proxy smart contracts for convenient interaction with other chains while ensuring the security of funds.

The combination of a talented team, technical capabilities and strategic investments led to Raydius being selected for the Binance Labs Incubation Program in November 2021 and securing further support from Binance Labs.

Building on this foundation and in light of their entry into the zkSync ecosystem, Raydius has expanded its technical advantages and introduced its Launchpad services, introducing four key innovations.

A notable innovation is Raydius’ NFT mechanism in its acceleration engine, which is based on the ERC-1155 protocol. This mechanism is intended to allow all users to participate in all IDOs on the platform.

In addition, Raydius has introduced precise platform tokens in its ecosystem, which serve not only as a medium of exchange but also as powerful governance tools. Token holders can make suggestions and vote on important decisions regarding the future development and direction of the Launchpad platform, improving the scientific and democratic aspects of Raydius’ Launchpad.

Raydius has also innovated by offering a cutting-edge combination of decentralized exchanges (DEXs). They will build their DEX based on the zkSync DeFi protocol, providing a one-stop Liquidity-as-a-Service (LaaS) solution. Beyond traditional DEX features, Raydius’ DeFi protocol on zkSync includes on-chain limit orders and automatic refunds of compound LP fees.

Finally, Raydius introduces a novel liquidity hook protocol. Raydius will create zkSync-based “hooks,” contracts that run at different points in the lifecycle of liquidity pools and allow dynamic fees, the addition of limit orders on-chain, or act as a time-weighted average market maker (TWAMM) as the pools move greatly diversify orders over time. This innovation introduces a “singleton” contract where all pools reside within a smart contract, creating a comprehensive platform with efficient routing capabilities, tailored pools, and cross-pool efficiency.

In an industry where many projects lack technical support beyond white papers, Raydius stands in stark contrast. Their innovations are built on a strong technical foundation, honed through their early successes in cross-chain bridges and middleware development.

Notably, early projects on Arbitrum rewarded early users with tens of millions of dollars in airdrops. For example, Camelot, a top DEX on Arbitrum, saw its token increase from $200 to $4,200, a 21x increase. AIDOGE, another example, rose from an initial $0.000301 to a high of $0.08112, recording a staggering 372x growth. Raydius is similarly positioned as a launchpad on zkSync and has the potential to recreate a wealth narrative while leveraging its technical expertise.

In summary, Raydius was founded with the vision of democratizing blockchain technology, making blockchain transactions more accessible to all users, and improving connectivity and cohesion within the blockchain ecosystem. With the entry into zkSync, this vision now remains steadfast and even more determined. Raydius admits that in addition to offering best-in-class cross-chain services, facilitating convenient financing channels for startups and providing greater opportunities for investors to participate in early-stage projects are equally important.

As an experienced Layer 2 infrastructure service provider supported by Binance Labs and a variety of renowned investment institutions and their exceptional technical understanding, Raydius has positioned itself advantageously. The entry into zkSync represents a strategic move and is in line with the clear trend in the zkSync narrative. There is every reason to be optimistic about Raydius’ tremendous growth potential and its ability to become a significant player in this space.

media contact
Company Name: Raydius
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Country: Singapore
Website: http://www.raydius-research.com/

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