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t3rn raises $6.5 million in a strategic funding round led by Polychain Capital

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Berlin, Germany, November 25, 2022, Kettendraht — Berlin, Germany, XX. November 2022 – t3rn, the next-generation resilient multichain protocol, has raised $6.5 million in a strategic funding round led by Polychain Capital, the world’s leading digital asset investment fund.

Investors in this strategic round also included Blockchange, Lemniscap, D1 Ventures, Huobi Ventures, Figment Capital, Bware Labs, MEXC, Open Process Ventures, NetZero Capital and a number of industry-leading angel investors, many of whom are celebrity founders.

“The future of Web3 is multichain,” said Maciej Baj, Founder and Chief Technology Officer of t3rn. “This means transactions across multiple blockchains can and should be as easy and secure as transactions on a single chain. t3rn supports this new paradigm in cross-chain programming. This strategic funding round supports the development of our innovative approach to blockchain interoperability.”

“Interoperability between Layer 1 blockchains and the applications built on top of them will help improve efficiency and liquidity across the ecosystem by reducing broken liquidity pools and increasing composability across different execution environments,” said Ben Perszyk, Partner at Polychain capital. “t3rn is building an expressive protocol for generalizable function calls across chains — an ambitious endeavor that will unlock new behaviors for crypto creators and users.”

“It’s one thing to say we need cross-blockchain interoperability and another to actually build it,” said Ken Seiff, Managing Partner of Blockchange Ventures. “t3rn actually does. They enable the future where smart contracts can actually run across chains, rather than being tied to a chain or being forced to work across risky bridges.”

Roderik van der Graaf, Founder and Managing Partner of Lemniscap said: “Given the contours of today’s multi-blockchain environment, the need for smart contract interoperability has never been greater. At Lemniscap, we’re particularly excited to drive the development of multichain solutions and cross-chain interoperability. As a pioneer in this space, t3rn greatly expands access to multiple decentralized applications and enables developers to seamlessly build cross-chain applications.”

t3rn enables resilient smart contract interoperability, no matter how many different blockchains involved, with the simplicity of an SDK. And unlike bridges, t3rn allows multi-step transactions across different chains to be assembled in a single call.

Since its inception, t3rn has supported the development of the Polkadot ecosystem and has been part of the Substrate Builders program.

The protocol also announces the completion of its second Web3 Foundation grant to further develop XBI – an innovative XCM-based standard for smart contract communication.

Jacob Kowalewski, Chief Strategy Officer at t3rn, said: “We are incredibly proud not only to have the backing of some of the leading investors in this space, but also to continue to provide ambitious grants to the Web3 Foundation. At a time when multichain solutions are hampered by hacks and exploits, we at t3rn are committed to building a breakthrough solution in a measured manner, and we look forward to becoming a central part of a secure multichain world. “

About t3rn:

t3rn is a multichain protocol that enables resilient, interoperable execution and smart contract building for the Polkadot ecosystem and beyond.

The ultimate goal of t3rn is to enable trustless collaboration between blockchains and create an ecosystem where anyone can use and deploy an interoperable smart contract, in an ecosystem where developers are fairly rewarded for their contributions. Welcome to the new generation of multichain composability.

Visit www.t3rn.io for more information

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communications manager
Adrian Garcia
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