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Grvt Secures $19 Million to Advance Privacy-Focused Decentralized Exchange

The ZKsync-based DEX leverages zero-knowledge proofs to enhance privacy, scalability, and cost efficiency in on-chain finance.

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Summary

Grvt, a decentralized exchange focused on privacy in on-chain finance, raised $19 million in a Series A round co-led by ZKsync, Further Ventures, EigenCloud, and 500 Global. Built on ZKsync Validium L2, the platform uses zero-knowledge proofs to provide Ethereum-level security with private, low-cost transactions. CEO Hong Yea emphasized privacy as critical for the future of on-chain trading. The funding comes amid rising Ethereum activity, with August on-chain volume at $320 billion, and supporters view Grvt as a potential liquidity hub for the expanding on-chain finance market.

Terms & Concepts
  • Decentralized Exchange (DEX): A cryptocurrency exchange operating without a central authority, enabling peer-to-peer trading via smart contracts.
  • Zero-Knowledge Proofs (ZK Proofs): A cryptographic technique allowing one party to prove the truth of a statement without revealing the underlying information.
  • ZKsync Validium: A Layer 2 scaling solution for Ethereum that uses zero-knowledge proofs while storing data off-chain to reduce costs.