Yellow Network Seed Round Led by Ripple Co-Founder
Yellow Network, a web3 blockchain platform, recently secured $10 million in a seed round spearheaded by Chris Larsen, one of the co-founders of Ripple. Larsen’s investment will propel the team in launching their blockchain solution and tackling the hurdles faced by crypto traders. With this significant backing, Yellow Network aims to solidify its presence in the cryptocurrency space.
Introduction to Yellow Network
Yellow Network operates a layer 3 peer-to-peer protocol designed for decentralized clearing using state channels for trading and settlement through smart clearing. This innovative approach eliminates the reliance on centralized intermediaries, paving the way for efficient and secure financial transactions in the digital asset realm. The upcoming launch of its native token will further enhance its ecosystem, providing decentralized finance solutions for exchanges, brokers, and traders.
Upcoming YELLOW Token Launch
Partnering with Linea, a prominent layer 2 network for decentralized applications, Yellow Network continues to expand its reach within the crypto industry. The testnet for its P2P clearing protocol was introduced in December 2023, marking the path towards the anticipated launch of the YELLOW token in Q4 2024. Notable venture capital firms and investors, along with strategic partners like Consensys, Cobo, and Fireblocks, have shown significant support for Yellow Network’s vision and growth trajectory.
