Seoul based Digital Asset Fund, Blockwater Management, has completed a large scale $3M investment in the cross-chain bridge known as RelayChain. The OTC investment was completed on the week of 11/22/2021. The capital injection will allow the RelayChain team to scale their efforts in their mission to become the leaders in blockchain interoperability. Blockwater will also play a major role in advisory and networking.
Blockwater is known for being ahead of the curve in digital asset investing. They were seed investors in Fantom, Playdapp and BiFrost. One of the major pillars for their blockchain venture investment portfolio is Interoperability. Cross-chain bridges will be the key infrastructure pieces to enable blockchain interoperability. In his search for a promising new bridge, Blockwater CSO, Isaac Lee, discovered RelayChain. Lee was impressed with their number of bridge deployments, early revenue generation, profitability, and the tokenomics model. In just a few months of operation, RelayChain is already connected to 11 blockchains, has completed almost 20,000 bridge transfers, and generated over $250,000 in profits which are being used to reward token holders for staking. A portion of the revenues are also used to market buy and burn the RELAY token, making it deflationary. Many bridges have a token, but none can match this level of utility. The bridge transaction volume has been experiencing triple digit percentage growth month over month. Blockwater recognized that the RelayChain market cap was significantly undervalued given current revenues and the model based revenue projections.
BlockWater is a leading Digital Asset Fund (DAF) focusing on bringing blockchain enabled projects to the real world application.Their investment portfolio is built on the belief that current disruption through cryptoeconomics and blockchain is only the start. BlockWater deploys multiple investment strategies by leveraging its profound industry background. BlockWater not only invests in blockchain ecosystems but also provides consulting to great minds across the globe.
Blockwater is one of the first digital asset investment firms founded in Korea. Since its inception in 2018, Blockwater has become the crypto finance powerhouse assisting clients to gain exposure to crypto assets through its data driven approach.
Blockwater products provide investors with a full spectrum of exposure to the space, ranging from a Passive Bitcoin Fund with daily liquidity to Bitcoin Income Bond, and an actively managed Quantitative Hedge Fund.
RelayChain enables fast, secure and low cost cross-chain token transfers between the world’s leading blockchains. The platform offers Bridging as a Service (BaaS) to partner networks and dApps wishing to expand their footprint beyond a single chain. RelayChain currently supports bridges between any combination of Cronos, Harmony, Moonriver, IoTeX, Ethereum, Polygon, Binance Smart Chain, Fantom, Avalanche, Shiden and HECO. Multiple popular networks will be added in the near future. A unique feature of RelayChain is that once a token exists on our platform, it can be bridged to any other EVM in our list of networks. This can be done in one step without need to return to the parent chain first. This represents a major feature of speed and convenience for all of the users. The RELAY token holds high utility as it will be used to reward stakers with a share of the native gas tokens collected from bridging fees. It’s a deflationary token; the more transactions that occur, the more RELAY is bought back and burned. RelayChain can quickly enable any project’s tokens to be bridged at no cost to the project.