Analog Raises $5M, Valued at $300M, to Connect Web3 Blockchains

Analog, a startup focused on enhancing web3 interoperability, has raised $5M in a funding round, bringing its total funding to $21M. This investment values the project at a $300M fully diluted valuation and underscores investors' confidence in Analog's vision to create a more connected web3 ecosystem.

Analog aims to address the challenge of seamless interaction between blockchains, which limits the true potential of web3 as a fully interconnected digital economy. The funding will accelerate the development of Analog's innovative tech stack, including its General Message Passing (GMP) protocol and developer-centric tools. These tools empower developers to create omnichain decentralized applications capable of operating seamlessly across multiple blockchains.

Analog has several ideas to bring blockchains closer together, such as omnichain DEX trading, streamlining NFT minting across chains, and aggregating liquidity from multiple blockchains. Its Software Development Kit (SDK) already supports EVM and Polkadot, with plans to integrate Solana and TON in the future. This will enable developers to deploy dapps that pull data from a rich array of omnichain sources.

Zenswap, a decentralized exchange built using Analog's proprietary technology, serves as a demonstration of the startup's interoperability capabilities. Zenswap allows users to seamlessly swap assets across multiple blockchains, utilizing USDC-based liquidity routing to support networks such as TON, Solana, and Bitcoin.

Analog's growing ecosystem suggests it will play a pivotal role in blockchain infrastructure for years to come. Over 50 projects are already building or committed to building on its protocol, including partnerships with notable names like Rarible, Pixelport, and StationX. Additionally, Analog's testnet has attracted over 345,000 participating accounts, indicating strong developer and user interest ahead of its mainnet deployment.

At the core of Analog's stack is its Proof of Time protocol, which ensures secure and efficient cross-chain communication. This mechanism is complemented by the General Message Passing (GMP) protocol, enabling developers to transmit data and execute transactions across chains with cryptographic assurance. With a public token sale and mainnet launch on the horizon, Analog is well-positioned to make good on its promise of bringing blockchains closer together.