The cross-chain bridging protocol Across Protocol has completed a $41 million token round financing, led by Paradigm

ChainCatcher news, according to The Block, the cross-chain bridging protocol Across Protocol raised $41 million by selling its ACX tokens to expand its connectivity between Ethereum and layer two networks. This round of financing was led by Paradigm, with participation from Bain Capital Crypto, Coinbase Ventures, Multicoin Capital, and angel investor Sina Habinian.

Hart Lambur, co-founder of Risk Labs Foundation, revealed that this round of financing will be completed in two phases, taking place in the second and fourth quarters of 2024. The token unlock plan for investors includes several one-year lock-up periods, lasting until November 2025. Across Protocol is an intent-based interoperability protocol that allows users to initiate cross-chain transactions with a single request.

According to Web3 asset data platform RootData, [Across](https://www.rootdata.com/zh/Projects/detail/Across Protocol?k=MjExMw== "optimistic-based cross-chain bridging protocol") is an optimistic-based cross-chain bridging protocol that allows users to execute transactions between chains almost instantly. This is achieved through the use of optimistic oracles, bonded relayers, and single-sided liquidity pools.