Full-service investment company Genesis Block Ventures (GBV) announces a strategic partnership with Orbit Chain. Orbit Chain is a multi-asset hub blockchain that stores, transfers and verifies information and assets which exist on various public blockchains through decentralized Inter-Blockchain Communication (IBC). It currently bridges heterogeneous chain assets through its cross-chain bridging protocol, Orbit Bridge, which connects Ethereum, Klaytn, ICON, and Ripple assets.
With a mission of building the future through blockchain technology, Genesis Block Ventures would support the development of the decentralized inter-blockchain protocol and run a validator node on Orbit Chain. Additionally, GBV will become the key partner in bringing Orbit Chain to the global blockchain ecosystem.
As the world’s first decentralized IBC platform, Orbit Chain allows isolated public chains to connect to each other’s public blockchain. It ensures fast block generation with instant finality and high transaction performance with its Delegated Proof-of-Stake (DPoS) based consensus.
As a result, Orbit Chain uniquely innovates in the safe and reliable transfer of all kinds of blockchain assets. It is already supporting 8+ public chains including Bitcoin, Ethereum, Ripple, Tron, Klaytn, and Terra. It will power cross-chain transactions between stablecoin-based blockchains as the next significant step in its development.
Orbit Chain: Multi-chain Asset Transaction
Substantial progress has been made by the Orbit Chain team with the launch of Orbit Chain’s cross-chain IBC bridging protocol, Orbit Bridge. Orbit Bridge, launched just six months ago, has already bridged more than $3.4 billion worth of assets across heterogenous chains.
The Orbit Chain team is tackling the low liquidity problem in the DeFi space by creating a shared liquidity pool of various DeFi applications. It has successfully proved its potential in the KLAYswap protocol, which is an AMM DEX built on the Klaytn blockchain. KLAYswap has over $1.8B TVL with liquidity pools consisting of Orbit Chain bridged Ethereum assets. It is a DevTool partner of Klaytn, having also built the Klaytnscope block explorer and Klaystation staking tool.
We share the same vision with Orbit Chain that the disconnection between different blockchains isolates them and hinders the development of the technology. There is an urgent market need for a new blockchain network architecture that solves the problem.
Through this investment, Genesis Block Ventures is proud to be a contributor to Orbit Chain and become its new validator partner. More importantly, GBV will help further expand Orbit Chain’s business beyond South Korea to the global market. We are excited to participate in the journey to bring Orbit’s services to the wider audience around the world!
About Orbit Chain
Orbit Chain is a multi-asset hub blockchain that stores, transfers, and verifies information and assets which exist on various public blockchains through decentralized Inter Blockchain Communication (IBC).
Orbit Chain currently supports 8+ public chains including Bitcoin, Ethereum, Ripple, Klaytn, ICON, and Terra. It is committed to researching the interoperability of heterogeneous chains and further developing the DeFi ecosystem with better products and services. In doing so, Orbit Chain will create a more widespread audience and a stable blockchain ecosystem by allowing more dApp growth on various mainnets.
The team behind Orbit Chain, Ozys, has also created leading DeFi projects including Belt Finance on Binance Smart Chain (BSC) and KLAYswap on Klaytn. Ozys is a member of the Klaytn Governance Council alongside multinational businesses and organizations including Binance, Huobi, MakerDAO, LG Electronics, and Kakao.
About Genesis Block Ventures
Genesis Block Ventures (GBV) is a full-service investment company closely working with Genesis Block HK, Asia’s leading digital asset over-the-counter (OTC) trading center.
As a private investment company with a mission of building the future through blockchain technology, Genesis Block Ventures is an active participant in the DeFi revolution, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and DeFi projects.