Yellow Network, a decentralized platform for digital assets, has secured a $10 million seed investment in a round led by Chris Larsen, Co-Founder of Ripple and a prominent Silicon Valley investor. This significant backing comes when Yellow Network is poised to lead the next wave in DeFi, with the market valuation exceeding $200 million. Among the notable supporters are ConsenSys, NxGen, GSR, Gate Labs, ZBS Capital, MV Global, MATH, Moonrock Capital, and other key players.
Yellow Network is revolutionizing the crypto space with its decentralized clearing protocol, addressing critical issues such as liquidity fragmentation, scalability, and counterparty risks. Utilizing state channel technology, the platform enhances capital efficiency, reduces latency, and provides a scalable solution for the expanding digital asset market.
Industry Leaders Spearheading Innovation
Louis Bellet, a seasoned fintech entrepreneur and systems architect, founded Yellow Network. With his experience as the founder of Openware, a leading provider of crypto exchange software, Bellet brings in-depth knowledge of industry challenges and has been pivotal in shaping the network’s architecture.
Joining him is Alexis Sirkia, Co-Founder of GSR and a pioneer in market-making. Sirkia’s extensive trading and market dynamics expertise has been crucial in developing Yellow Network’s unique value proposition. Together with Camille Meulien, a seasoned software architect, this team is driving innovation and redefining the future of crypto trading.
Larsen’s Endorsement and Yellow Network’s Vision
Chris Larsen’s involvement marks a pivotal moment for Yellow Network. His endorsement clarifies the relevance of the Yellow Network’s mission in restoring trust, efficiency, and security in cryptocurrency trading. Considering his history of innovation regarding Ripple’s cross-border payments, Larsen’s support emphasizes the strategic fit of both companies when Yellow Network adopts the XRPL markup.
Yellow Network’s CEO, Louis Bellet, expressed his gratitude, stating that Larsen’s support validates their efforts and gives them the confidence to push forward in reshaping the digital asset markets.
The Future of Yellow Network and $YELLOW Token
Looking forward, Yellow Network is preparing for the launch of the $YELLOW token in Q4 2024. This token will power transactions within the ecosystem, acting as the network’s lifeblood. Additionally, Yellow Network will introduce an exclusive liquidity-locking campaign, enabling the community to engage actively in the platform’s expansion through liquidity mining.
Source: https://blockchainreporter.net/larsen-invests-10m-in-yellow-network-pushing-crypto-trading-innovation/