Ariadne, is a Decentralised Finance (DeFi) marketplace that supports cross-chain transactions. The multichain aggregator recently revealed that following a funding round, $835,000 had been raised. In attendance of the fundraising event, established Venture Capital (VC) firms such as LedgerPrime, Impossible Finance, RareStone Capital, Incuba Alpha, D1 Ventures, Exnetwork and Parsiq to name a few of the many who participated. Plenty of angel investors also contributed alongside the businesses, some of the individuals included Santiago Santos, Darren Lau, Fabien Marino, Nick Chong, Sandeep Nailwal and more.
The Ariadne project is designed to reduce friction when transacting by minimising chain usage costs for exchanges, swaps and bridges, as well as lowering transaction fees for yield farm participants who enter and exit farms across multiple blockchain networks. Ariadne (ARDN) is the projects native cryptoasset, the token powers the protocol and its liquidity initiatives to help further reduce transaction costs. Investors can buy Adriadne (ARDN) at popular cryptocurrency decentralised exchange, PancakeSwap (CAKE).
Objectives set out by Ariadne are all overshadowed by its primary goal to address transaction costs for transactors as the problem remains a consistent issue for the DeFi industry despite recent efforts from DeFi platforms and protocols. The issues also spill into various veins of the cryptocurrency infrastructure and effect the fees for swapping and bridging, including all Ethereum Virtual Machine (EVM) and non-EVM chains.
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