The startup has developed a decentralized cross-rollup bridge focused on layer 2 solutions, enabling low-cost and secure asset transfers across multiple blockchain networks. This platform addresses the high fees and inefficiencies associated with traditional cross-chain transactions, providing users with a more convenient alternative.
Funding
$8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Users transferring assets between Ethereum Layer 2 rollups face challenges such as long withdrawal times, high gas fees, and the necessity of routing transactions through the mainnet. This process is inefficient and costly, hindering the user experience.
Solution
Owlto Finance provides a decentralized cross-rollup bridge designed for efficient and low-cost transfers of native assets within the Ethereum ecosystem. By enabling direct transfers between Layer 2 networks, Owlto Finance eliminates the need to route transactions through the Ethereum mainnet, significantly reducing transaction times and gas fees. The platform supports bridging between various EVM and non-EVM networks, offering a seamless experience for users interacting with decentralized applications across different rollups. Owlto Finance also features a swap function, rewards program, and portfolio tracking, enhancing its utility for DeFi users.
Target Audience
The primary target audience includes DeFi users, traders, and developers who require efficient and cost-effective asset transfers between different Ethereum Layer 2 rollups and are looking to enhance their experience with rewards and portfolio management tools.
Features
- Cross-rollup asset bridging between Ethereum Layer 2 networks
- Support for EVM and non-EVM compatible chains
- Integrated swap functionality for token exchanges during bridging
- Rewards program to incentivize platform usage
- Portfolio tracking to monitor bridged assets
- API and SDK for developers to integrate bridging functionality into dApps
- Daily check-in feature for earning points
- Multi-chain aggregator for optimal routing