OneBalance’s $20M Magic Trick: Making Crypto Easy-Peasy for Developers!
Ah, OneBalance! A beacon of hope in the chaotic sea of crypto, where developers and fintechs alike flounder like fish out of water. With a dazzling $20 million Series A funding round, they’re here to sprinkle some fairy dust on the user experience (UX) for all those poor souls trying to navigate the multichain madness. 💸✨
Led by the illustrious cyber•Fund and Blockchain Capital, with a sprinkle of support from Bybit’s Mirana Ventures and L2IV, this funding round is like a party where everyone’s invited, and the punch is spiked! 🍹
Founded by a former Coinbase wizard and a band of merry contributors from Flashbots, OneBalance is on a noble quest to tackle the fragmented UX issue plaguing the crypto realm. Their Toolkit technology promises to let users transfer, swap, or earn yield with just one click—no need to worry about the underlying network, bridging funds, or managing those pesky gas tokens. It’s like magic, but with fewer rabbits and more blockchain! 🐇💻
“Developers that integrate via the Toolkit can earn revenue directly through configurable transaction fees,” said Daniel Worsley, co-founder and chief operating officer of OneBalance, in a moment of sheer brilliance. “These fees, including gas, can be bundled into a single abstracted payment from the user.” Because who doesn’t love a good bundle deal? 🛍️
The result? “Faster execution, higher conversion, and better capital efficiency,” he added, as if he were selling a used car. 🚗💨
OneBalance’s Toolkit has already proven to be a hit with native Bitcoin-to-Ethereum Virtual Machine (EVM) swaps, and they’re not stopping there! Support for Solana and other major networks is on the horizon, like a train that’s just about to leave the station. 🚂
OneBalance introduces Resource Locks for safer bridging
Now, let’s talk about the company’s shiny new Resource Lock feature, which they rolled out in early 2024. This clever little invention offers a fresh take on crosschain transactions, allowing asynchronous execution across blockchains. It’s like a synchronized swimming team, but for your crypto! 🤿
Resource Lock “allows users to lock funds across chains with a single cryptographic intent — no pre-bridging required,” Worsley explained, probably while wearing a wizard hat. 🎩
“Combined with balance aggregation, it lets users deploy funds fragmented across many chains, eliminating the need to bridge before taking action,” he added, as if he were revealing the secret to eternal youth. 🧙♂️
Unlike those clunky blockchain bridges, Resource Locks toss aside pooled assets, central vaults, and smart contract balances that could be as vulnerable as a cat in a dog park. 🐱🐶
In 2022, hackers made off with a staggering $600 million from Axie Infinity’s Ronin Bridge, proving that the crypto world can be as dangerous as a walk through a dark alley. OneBalance is here to shine a light on those risks and offer a safer path forward. 💡
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2025-06-11 19:22