ChainCatcher news, the cross-chain settlement layer Union has announced the launch of the Union Foundation. The Union Foundation is an independent organization dedicated to building a safer, decentralized, and interoperable Web3. Its core focus is to fund initiatives that support the Union network and to incentivize its development through maintenance, continuous development, and the creation of decentralized applications (dApps), including grant programs and the Union Fellowship program. The Union Foundation has announced that a token economic model will be released soon, and the Union mainnet is also set to launch.

ChainCatcher news, the cross-chain settlement layer Union announced the completion of a $12 million Series A funding round, led by Gumi Cryptos Capital and Longhash Ventures, with participation from Borderless Capital and Blockchange, as well as blockchain founders from Polygon, Movement, and Berachain. The total funds raised have reached $16 million.The funding will be used for core team expansion, partner integration, and ecosystem development.According to RootData, Union is an efficient interoperability protocol that connects all blockchains and Rollups within any ecosystem. It is based on consensus validation and does not rely on trusted third parties, oracles, multi-signatures, or MPC.

ChainCatcher news, according to an official announcement, venture capital firm Pantera Capital has announced a $5 million investment in Everclear to support its development of cross-chain settlement layer technology.It is reported that Everclear (formerly known as Connext) has been working since 2017 to solve the problem of asset transfer between blockchain networks. The company's latest settlement layer is a decentralized network designed to achieve settlement and purification of inter-chain liquidity through complex intent solutions and self-developed optimistic convolution technology, which is expected to reduce the cost and complexity of cross-chain transactions by five times.In addition, Everclear's settlement layer supports custom settlement logic, allowing any blockchain to access seamlessly, promoting widespread growth of the network.