Three points to understand why Multicoin led Wormhole $ 225 million in financing

Author: Kyle Samani, Multicoin Capital Partner; Translation: Bit Chain Vision Xiaozou

Crypto is moving towards the multi -chain future, and it needs a safe and flexible interoperability platform to Unicom’s entire industry.Wormhole is a comprehensive interoperability platform and a leading solution in the market.

On April 4, 2024, I was glad to announce that we participated in a round of $ 225 million in Wormhole.The round of financing was completed at the end of last year. When the W -token was released, we officially announced our investment.

1. The leading multi -chain platform

Most people think that Wormhole is just a Bridge.But it is far more than that.Wormhole是一个开发平台,许多类别的大量应用程序可以基于其上进行建设:多链DeFi协议和应用程序(Aave、Circle USDC、Hashflow、Pike、Magpie)、多链治理(Uniswap),代币桥(Portal, Carrier), multi -chain Oracle Feed (Pyth), Backpack, multi -chain NFTS (DEGODS, Y00TS), and so on.

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The most exciting part of Wormhole is that the applications it built is a variety of.And it is still in the early stage.As the asset scale using the Wormhole bridge exceeds 41 billion US dollars, the opportunity space for the native application of Wormhole will continue to grow.

Recently, Wormhole spans an important milestone: multi -chain news has reached 1 billion.This is the most among all cross -chain message transmission systems.

But perhaps, the most important point is that Wormhole supports nearly 30 different chains, which makes it a very powerful bridge solution.Wormhole runs almost all the main EVM chains, as well as Near, and chains based on MOVE language (such as Aptos and SUI), and of course solana.

Wormhole is one of the most diverse and flexible encryption stacks.It has given priority to diversity and flexibility since the first day of release, and they are constantly investing in multi -chain support.This is an adventure decision, but the final result proves that this decision is foresight.

2. The importance of user experience

One of the most important cases of Wormhole is asset hooks, and the front end of Portal is used.Portal is the first third -party product developed on Wormhole.

Soon after Portal went online, Wormhole released a front -end tool Wormhole Connect, which developers can directly embed them into their applications.Wormhole Connect allows applications to easily support deposits and withdrawals from any assets on any chain.Wormhole Connect enables derivatives DEXS (such as Drift) to provide user experiences comparable to CEXS (such as Binance, OKX, Bybit, and CoinBase International).Users can easily deposit any assets into Drift as a mortgage, without having to care about which chain the asset comes from.Wormhole Connect allows the cross -chain user experience without friction and achieved major unlocking.

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Recently, Wormhole launched the native token transfer function NTT.Tokens using the NTT framework can be seamless cross-chain transfer using the BURN-And-Mint mechanism, instead of using the traditional lock mechanism on the original chain.This reduces GAS costs, reduces delays, while increasing the security of end users.The most important thing is that the tokens are seamlessly bridged in Wormhole Connect.Both users and application developers do not have to consider this issue.

Finally, Wormhole also supports Circle CCTP for cross -chain native transfer USDC.

In short, Wormhole supports all three methods for cross -chain transfer assets: asset hooks, native token transfer, and CCTP.Because Wormhole uses a single SDK to support all three methods, developers can easily integrate and support all asset allocation.

3. Wormhole’s ZK Future

The biggest challenge facing the bridge system is verification.How does Chain B know the final state of chain A at a certain block height?

For a long time, each bridge (including Wormhole) depends on a certain degree of trust to conduct multi -chain verification.In January, Wormhole announced their ZK (zero -knowledge) roadmap.Wormhole is investing in ZK verification.In the end, this will bring a series of benefits, including a better user experience, better Devex, or even higher security.

We have cooperated with the Wormhole team for some time, and we are very excited.They are outstanding builders. Watching them carefully build the leading asset bridge in our minds and leading multi -chain development platforms, it is really amazing.We are honored to support Robinson Burkey and Wormhole teams.

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