ZAP Reaches $100M Valuation After $15.1M Funding Round on Ethereum Layer 2

Jul 12, 2024, 03:22 PM

Token distribution protocol ZAP has reached a $100 million valuation following a successful $15.1 million funding round. The funding, which was led by Rarestone Capital, Cypher Capital, and Sharding Capital, included contributions from Presto Labs, Auros Global, and industry angels such as Chelsea Jiang. ZAP, built on the Ethereum Layer 2 network Blast, raised the funds through a $900,000 seed round, a $2.1 million private round, and an ongoing vault sale that has so far garnered $12.1 million. Vault sale buyers get additional benefits.