BNB Chain execution layer project Matrix completed a Series B funding round of 7.5 million USD, with participation from ParaFi Capital, Point72 Ventures, and others

According to official news, the BNB Chain's executive Rollup project Matrix has completed a $7.5 million Series B financing round, with participation from ParaFi Capital, Tribe Capital, Point72 Ventures, CMT Digital, Lightspeed Faction, BITKRAFT Ventures, Makers Fund, and others.

The funds from this round will mainly be used to advance the mainnet launch, the construction of the ZK validity proof system, and the Stage 2 decentralization process. Matrix is built on the Facet technology stack and is adapted to the BNB Chain PoSA consensus, featuring no centralized sequencer and no administrator privileges, with the transaction order directly determined by the BNB Chain. The official claims that it can effectively increase the throughput of the BNB ecosystem by 3 to 5 times. Currently, the Matrix testnet Phase 1 has been launched on October 3.