OKX Ventures, the venture capital subsidiary of the prominent Web3 technology company OKX, has officially announced a significant investment in the innovative blockchain project Taiko.

This investment, part of a Series A funding round, marks a pivotal moment in the development of a decentralized, Ethereum-equivalent ZK-Rollup technology.

Taiko, known for its leadership in blockchain innovation since 2022, has successfully conducted six testnets, engaging over 1.1 million unique wallets, more than 30,000 proposers, and over 14,000 provers.

With a vibrant community exceeding 850,000 members on Discord and supporting over 100 live applications, Taiko is at the forefront of scaling Ethereum by creating a decentralized, permissionless, and secure Layer 2 architecture.

Dora Yue, the founder of OKX Ventures, expressed enthusiasm for the investment, highlighting Taiko’s commitment to decentralization and its achievements in developing a network that allows developers to utilize Ethereum Layer 1’s capabilities without altering existing decentralized applications (DApps) deployed to Taiko.

Yue also noted the anticipation of Taiko’s mainnet launch in the first half of 2024, which is expected to signify a new era of growth for the platform.

OKX Ventures, established with an initial capital of $100 million, is dedicated to identifying and supporting the most promising blockchain projects worldwide.

By investing in groundbreaking blockchain technology and fostering the global blockchain industry’s development, OKX Ventures aims to contribute to the creation of innovative companies and provide them with the necessary resources and expertise.