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Matter Labs raises $200 million for its Ethereum layer2.



Matter Labsa startup that develops a layer 2 solution for Ethereum called zkSynchas completed a C series from $200 million.

The layer2 Compatible with EVM developed by Matter Laboratories, zkSynchas once again attracted investors. This Wednesday on Twitter, the start-up announced to have collected 200 million dollars as part of a Series C financing round. led by Capital Blockchain and Dragonfly Capital.

Additional fresh capital

Other donors include. LightspeedVariant and a16z, which was already leading Matter Labs’ fall 2021 Series B round. This latest round of funding brings the company’s total fundraising to €458 millionincluding a $200 million fund dedicated to its ecosystem.

Matter Labs plans to use the new funding to launch proprietary projects in. zkSyncfund third-party ecosystem projects, develop its training center. Materia University and expand its equipment.

zkSync: a layer 2 Ethereum zkEVM.

Based on zkEVM technology, zkSync is compatible with the Ethereum virtual machine, the second largest blockchain engine on the market. It is positioned as a rival to scaling solutions such as Arbitrum or Optimism.

zkSync boasts greater efficiency and safety of capital by eliminating reliance on watchdogs. But also, lower commissions and faster withdrawals for NFTs.

Several projects, such as Aave, Chainlink and UniSwap, have expressed interest in deploying their product on zkSync.

The launch of zkSync 2.0 (main network) is going through several phases. The first, Baby Alpha, took place last month and is designed to ensure its operation. The final stage, Full Alphais expected by the end of the year or early 2023.

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