PANews reported on May 22 that according to Cointelegraph, Stripchain raised $10 million in the latest round of financing, aiming to simplify the blockchain user experience. This round of financing was led by Sora Ventures, and participants included Hyperithm, Shima Capital, Hypersphere, Mechanism and Ascending Assets, as well as angel investors Santiago Santos, Stephane Gosselin of Frontier Research, and Ryan Selkis of Messari. This financing will drive Stripchain to achieve its goal of promoting the widespread application of Web3 by improving user experience and interoperability.

Stripchain is an interoperability protocol that aims to achieve large-scale chain abstraction, allowing users to use decentralized applications without having to pay attention to the underlying blockchain system. The protocol is led by pseudonymous researcher "0xnovachrono" along with Isa Sertkaya and Narayana Pryusty. Stripchain is based on a system called stripVM that allows applications to communicate and coordinate between different protocols, with a focus on the transaction layer and the use of a proof-of-authority system. Stripchain is currently in private beta and is expected to launch a testnet in the coming months.