Zeus Network Bags $8M in Seed Funding for Solana Interoperability Layer

Zeus Network, a Solana interoperability layer, has secured $8 million in funding led by Mechanism Capital. This seed round, structured as a SAFT, attracted notable investors including OKX Ventures, Animoca Ventures, and Solana co-founder Anatoly Yakovenko. Zeus Network aims to connect Solana to other blockchains, beginning with Bitcoin through its decentralized app, Apollo. The project plans to launch its mainnet in June or July and will airdrop its token on April 4th via Jupiter LFG Launchpad.

Zeus Network Secures $8 Million in Seed Funding for Solana Interoperability Layer

New York, March 8, 2023 - Zeus Network, a groundbreaking interoperability layer built on the Solana blockchain, has successfully raised $8 million in a seed funding round led by Mechanism Capital. A distinguished consortium of investors, including OKX Ventures, Animoca Ventures, Big Brain Holdings, Lemniscap, and The Spartan Group, participated in the funding round.

The seed round was structured as a Simple Agreement for Future Tokens (SAFT), providing Zeus Network with the resources to further develop its innovative platform. Notably, the fundraising process commenced in September 2022 and concluded in February 2023, with the round comprising tranches valued between $30 million and $100 million. The most substantial funding allocations were secured at valuations of $70 million and $100 million.

Zeus Network: Bridging the Blockchain Divide

Zeus Network is a revolutionary interoperability layer designed to connect the Solana ecosystem with other prominent blockchains, including Bitcoin, Litecoin, and Dogecoin. Its mission is to foster seamless interactions and enhance the utility of digital assets across these diverse networks.

Zeus Network's flagship decentralized application, Apollo, epitomizes this vision by bringing Bitcoin liquidity to Solana. Apollo enables Bitcoin holders to connect with the vibrant decentralized finance (DeFi) ecosystem on Solana, unlocking a world of financial opportunities and innovative applications. Within just four days of its testnet release, Apollo has attracted an impressive user base of over 40,000 worldwide.

Cross-Chain Infrastructure for a Connected Blockchain Future

"Zeus Network's unwavering commitment is to establish a robust cross-chain infrastructure," the project emphasized. "We are achieving this through the development of Zeus Layer, a highly adaptable and programmable network of nodes operating on the Solana Virtual Machine."

Zeus Layer serves as the backbone of Zeus Network's interoperability capabilities, facilitating secure and efficient data transfer between different blockchains. This interoperability empowers developers and users alike to leverage the unique advantages of each blockchain, creating a more interconnected and versatile ecosystem.

Mainnet Launch and Token Airdrop

Zeus Network anticipates the launch of its mainnet in June or July 2023, bringing its interoperability vision to fruition. Concurrently, Zeus Network's native token, ZEUS, is scheduled to be launched and airdropped on April 4, 2023, via Jupiter LFG Launchpad, a platform designed to support the token launches of Solana projects.

"The ZEUS token airdrop will allocate 3% of the total supply to Jupiter voters, zuPoint holders, and Dappie Gang holders," the project announced.

The total supply of ZEUS is set at 1 billion tokens, with an initial circulation of 167.5 million allocated across various segments, including early backers, ecosystem and community growth, the foundation, the team, liquidity, and advisors. Each allocation is subject to specific vesting periods to ensure the long-term stability and alignment of incentives.