PANews reported on August 8 that according to official news, ZK order book trading platform Vessel announced the completion of a $10 million seed round of financing, with participation from Sequoia Capital, Scroll co-founders Sandy Peng and Ye Zhang, Avalanche Foundation, Algorand Foundation, IMO Ventures, Folius Ventures, Incuba Alpha, and a group of angel investors. Vessel said that the new funds will be used to combine CEX efficiency with DEX transparency, improve liquidity efficiency, and develop advanced ZKP solutions for DeFi.
According to reports, Vessel is an order book exchange driven by zero knowledge (ZK), which aims to combine the efficiency and user-friendliness of centralized exchanges (CEX) with the transparency and security of decentralized platforms (DEX). In order to balance security and efficiency, Vessel has developed its own ZK-Proof circuits, enabling it to perform order matching, zero-knowledge AMM, and self-custodial asset management. In addition to its main functions, it is also committed to innovating in margin trading and expanding to multiple chains to solve the problem of decentralized liquidity.
