According to BlockBeats, on August 8, ZK order book trading platform Vessel successfully raised $10 million in a seed funding round. The investment was led by Sequoia Capital, with participation from Scroll co-founders Sandy Peng and Ye Zhang, Avalanche Foundation, Algorand Foundation, IMO Ventures, Folius Ventures, Incuba Alpha, and a group of angel investors.

The funds from this round will be utilized to combine the efficiency of centralized exchanges (CEX) with the transparency of decentralized exchanges (DEX), improve liquidity efficiency, and develop advanced zero-knowledge proof (ZKP) solutions for decentralized finance (DeFi).

One of the primary challenges in crypto trading is balancing transaction efficiency with on-chain transparency. Vessel addresses this issue by developing ZKP technology, which combines efficient off-chain transaction processing with on-chain verification to enhance security and scalability.