How does bloXroute, the DeFi trading acceleration tool led by SoftBank Vision Fund, contribute to blockchain scalability?
bloXroute is dedicated to solving the scalability "bottleneck" and serving DeFi traders on public chains such as Ethereum, Polygon, and BSC.Source: bloXroute
Recently, the DeFi trading acceleration tool bloXroute announced the completion of a $70 million Series B financing round, led by SoftBank Vision Fund 2, with participation from Blindspot, Dragonfly, Flow Traders, Flybridge, GSR, Jane Street, Lightspeed, ParaFi Capital, and Rockaway Blockchain Fund. As the leading investor in this round, Robert Kaplan, the investment director of SoftBank Investment Advisers, will join the board of directors of bloXroute.
As a blockchain infrastructure provider, bloXroute is dedicated to solving scalability "bottlenecks" and serving DeFi traders on public chains such as Ethereum, Polygon, and BSC. Its provided mempool and transaction/block infrastructure products enhance trading profitability for DeFi traders. bloXroute's exclusive network topology outperforms existing market products, including a 2-second acceleration in block production speed and a 1-second acceleration in transaction speed, as well as a monitoring speed for new transaction orders (mempool service) of 50-400 milliseconds.
Currently, bloXroute has launched a global data distribution network BDN (Blockchain Distribution Network) to address blockchain scalability issues. BDN helps users avoid network congestion and stably query key data, such as buy and sell transaction orders, transaction prices, position sizes, liquidation data, and provides delay-free oracle services.
BDN also helps users monitor critical information, such as transactions in progress and newly produced blocks, allowing users to issue transaction orders with almost no delay. Crucially, bloXroute's network effects further strengthen its technological barriers. The more users, traders, mining pools, validators, and DeFi projects connected to BDN, the faster the speed of receiving data directly from the data source, and the greater the value provided to customers by BDN.
This DeFi infrastructure company, with a team of 30, is headquartered in Chicago, USA. By 2021, its total transaction volume had exceeded $1 trillion. With the increasing demand for peer-to-peer trading, bloXroute's daily DeFi trading volume has surpassed $1.5 billion.
Aaron Wong, an investor at SoftBank Investment Advisers, said, "We believe bloXroute has mastered the key technologies to provide faster transaction speeds and reduce latency across multiple blockchain networks. We expect its BDN to provide industry-leading transaction settlement solutions that will create exciting catalysts in the blockchain industry, such as in the NFT, gaming, and metaverse sectors. We are thrilled to work with Uri and his team to build a blockchain superhighway that won't get congested."
Uri Klarman, co-founder and CEO of bloXroute, stated, "This is an important milestone for the company, and we thank SoftBank Vision Fund 2 and other new investors for their trust in us. We are excited to use this investment to expand our team and product coverage and continue developing more efficient and reliable data generation mining solutions."
Haseeb Qureshi, managing partner at Dragonfly, remarked, "While DeFi has experienced explosive growth in the past few years, its infrastructure is still in its infancy. We are excited to partner with bloXroute and believe this collaboration will accelerate mainstream acceptance of DeFi and provide effective solutions for the DeFi space."
