SAN FRANCISCO, June 16, 2023 (GLOBE NEWSWIRE) -- OKX Ventures, the investment arm of the second-largest crypto platform by trading volume and Web3 technology company OKX, has issued updates for the day of June 16, 2023.
OKX Ventures Announces Investment in Taiko, a Decentralized ZK-Rollup
OKX Ventures is proud to announce its recent investment in Taiko, a decentralized, Ethereum-equivalent ZK-Rollup. Taiko is currently building a Type-1 ZK-EVM (Ethereum Virtual Machine) that enables developers and users to experience Ethereum securely with lower transaction fees, while retaining the ability to re-use their existing codebase and tooling.
As a fully permissionless and decentralized ZK-Rollup, Taiko's goal is to empower a vibrant community of block proposers, provers and node runners via its trustless network. The project will launch its mainnet next year.
OKX Ventures Founder Dora Yue said: "We are honored to announce our investment in Taiko, which seizes "Type 1" positioning across the zk-EVM spectrum and has a host of advantages in regards to UX and technical design. We strongly support the team's commitment to being a fully permissionless and decentralized ZK-Rollup."
Over the past two years, OKX Ventures has invested in 300 projects across five continents with a fund size of approximately USD$1 billion, covering almost all tracks of investment. OKX Ventures focuses on supporting cutting-edge blockchain innovations and exploring high-quality projects that demonstrate long-term value. It remains bullish on the ZK ecosystem, infrastructure, multi-chain and Web3 projects, and its recent investments in projects like Taiko, Berachain, Sei Network, Cetus Protocol and Alienswap reflect this focus.
For further information, please contact:
Media@okx.com
About OKX Ventures
OKX Ventures is the investment arm of the second-largest crypto exchange by trading volume and Web3 technology company OKX, with an initial capital commitment of USD 100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.
Find out more about OKX Ventures here.
About OKX
A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including the OKX Wallet, NFT Marketplace and DEX.
OKX partners with a number of the world's top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.
As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology to replace existing centralized systems.
To learn more about OKX, download our app or visit: okx.com
Disclaimer
THIS ANNOUNCEMENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY. IT IS NOT INTENDED TO PROVIDE ANY INVESTMENT, TAX, OR LEGAL ADVICE, NOR SHOULD IT BE CONSIDERED AN OFFER TO PURCHASE, SELL, OR HOLD DIGITAL ASSETS. DIGITAL ASSETS, INCLUDING STABLECOINS, INVOLVE A HIGH DEGREE OF RISK, CAN FLUCTUATE GREATLY, AND CAN EVEN BECOME WORTHLESS. OKX IS NOT REGULATED BY THE FCA, THUS, PROTECTIONS SUCH AS THE FINANCIAL OMBUDSMAN SERVICE OR FINANCIAL SERVICES COMPENSATION SCHEME WILL NOT BE AVAILABLE. YOU SHOULD CONSIDER WHETHER YOU UNDERSTAND HOW CRYPTO WORKS AND WHETHER TRADING OR HOLDING DIGITAL ASSETS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THE VALUE OF YOUR DIGITAL ASSETS, INCLUDING STABLECOINS, CAN INCREASE OR DECREASE AND PROFITS MAY BE SUBJECT TO CAPITAL GAINS TAX. PAST PERFORMANCE DOES NOT INDICATE FUTURE RESULTS. OKX IS NOT ASSOCIATED WITH ANY PARTICULAR DEFI PROTOCOL, MAKES NO WARRANTIES, REPRESENTATIONS OR UNDERTAKINGS RELATING TO ANY DEFI PROTOCOL’S OFFERINGS, AND IS NOT RESPONSIBLE OR LIABLE FOR ANY DIRECT OR INDIRECT LOSS OR OTHER DAMAGE ARISING FROM YOUR USE OF ANY DEFI PROTOCOL. OKX WALLET IS AN AGGREGATOR; ALL DISPLAYED ESTIMATED RETURN RATES ARE PROVIDED BY THE DEFI PROTOCOL, AND ARE NOT GUARANTEED NOR INDICATIVE OF FUTURE RETURNS. PLEASE CONDUCT YOUR OWN DUE DILIGENCE BEFORE INVESTING IN ANY DEFI PROTOCOL. PLEASE CONSULT YOUR LEGAL/TAX/INVESTMENT PROFESSIONAL FOR QUESTIONS ABOUT YOUR SPECIFIC CIRCUMSTANCES.
