OneBalance is a developer platform aimed at multi-chain applications, recently completing a $20 million Series A funding round, with the goal of optimizing the cryptocurrency user experience (UX) for developers and fintech companies.
This round of $20 million investment was led by cyber•Fund and Blockchain Capital, with participation from Bybit's Mirana Ventures and L2IV.
OneBalance was founded by a former Coinbase engineer and a core contributor to Flashbots, aiming to address the fragmented user experience in the crypto industry through its Toolkit technology. It is said that this technology allows users to complete transfers, exchanges, or earn yields with just one click, without worrying about the underlying networks, fund bridging, or managing Gas tokens.
Daniel Worsley, co-founder and COO of OneBalance, stated in an interview with Cointelegraph: "Developers integrated with Toolkit can earn revenue directly through configurable transaction fees. These fees, including Gas fees, can be bundled and charged to users in a single abstract payment."
He added that this results in "faster execution speeds, higher conversion rates, and better capital efficiency" for users.
According to the company, OneBalance's Toolkit technology has successfully facilitated native exchanges from Bitcoin to Ethereum Virtual Machine (EVM), with support for Solana and other major networks set to launch in the coming weeks.
The Resource Lock feature, launched by the company in early 2024, provides a new method for cross-chain transactions by enabling asynchronous execution across blockchains. The system jointly signs and orders user transactions through the protocol itself, preventing double spending.
Worsley stated: "Resource Lock allows users to lock funds across chains with a single crypto intent, without needing to bridge in advance."
He added: "Combined with balance aggregation features, users can deploy funds spread across multiple chains without needing to bridge before taking action."
Unlike blockchain bridges, Resource Locks eliminate the need for pooled assets, central vaults, and potentially vulnerable smart contract balances, providing a more secure solution for cross-chain transactions.
In 2022, hackers stole $600 million from Axie Infinity's Ronin Bridge due to a compromised multi-signature private key setup, highlighting the risks that OneBalance aims to address.
Related: PancakeSwap launches one-click cross-chain swap feature to simplify DeFi user experience
Original article: “OneBalance raises $20 million to simplify cryptocurrency experience for developers”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
