u.today
Bitget, a major player in Web3 and cryptocurrency trading, has made a multimillion-dollar investment in Morph, a Layer 2 blockchain focused on a consumer-centric approach. This collaboration, announced on December 11, signifies Bitget's commitment to fostering innovative Web3 projects and marks a pivotal moment in the development of a new, value-driven dApp ecosystem.
New rollup technology meets consumer-centric approach
Morph, previously Morphism, has distinguished itself with its unique roll-up technology developments. Combining the strengths of optimistic and ZK roll-ups, the solution aims to enhance scalability, minimize cost barriers, hasten dispute resolutions, and provide secure and adaptable transactions.
A crucial element of Morph's design is its Decentralized Sequencer Network, which ensures fast and affordable Layer 2 transactions, challenging the maximal extractable value (MEV) dominance and eradicating central points of control. The project's modular framework allows each ecosystem component to evolve independently, keeping pace with rapid innovations in consumer applications.
However, according to the Morph team, developing a novel technological solution to the industry’s plains was not their only objective. Aiming to create a space where dApps become our trusted daily companions and deliver real value to the end user, the project utilizes a consumer-centric approach, elevating the UX through easy onboarding and intuitive interfaces.
Morph joins Bitget in its Web3 vision
Bitget Managing Director Gracy Chen highlights the importance of the collaboration with Morph:
Morph has a stellar team endowed with experience, a vibrant multicultural approach, and industry-leading strategic capabilities for fostering mass adoption. It has demonstrated tangible progress in its commitment to a unique vision of a consumer blockchain. With Bitget's dedication to forging ties with exemplary Web3 entities, we’ve embraced Morph in a spirit of collaboration.”
According to Chen, Morph's emphasis on a decentralized and consumer-centric approach aligns perfectly with Bitget's vision. It has the potential to transform the blockchain space, preparing the technology for everyday use and unlocking widespread consumer adoption.
More announcements to come
Cecilia Hsueh, Morph Co-Founder and CEO is sure that investments from Bitget can help the protocol in achieving its long-term strategic goals:
We are extremely grateful for Bitget's support. The recent capital infusion showcases our incubator's confidence in Morph's UVP and sets the stage for the seed funding round. Our proactive financial strategy is crafted to tackle an aggressive roadmap and product development timeline to reform the Layer 2 landscape
The alliance provides Morph with a robust platform for growth, bolstered by Bitget's expansive user base of 20 million exchange users and 12 million Bitget Wallet users. Earlier in the year, Morph entered into a strategic alliance with Foresight Ventures, a crypto fund based in Singapore.
In the coming months, Morph plans to intensify the development of its technical framework and broader ecosystem. The project is set to launch its Testnet Beta in early January 2024, followed by the Mainnet Beta of its Optimistic zkEVM.