Morph, which raised a $19 million seed round led by Dragonfly Capital, has announced plans to build a developer-friendly L2 that brings real-world value to global users.
Morph aims to focus on value-driven DApp ecosystem development on Ethereum L2. The company has successfully completed a $19 million seed round with Dragonfly Capital as the lead investor. Other investors include Pantera Capital, Foresight Ventures, The Spartan Group, MEXC Ventures, Symbolic Capital, Public Works, MH Ventures, and Everyrealm. Additionally, Morph has secured $1 million in angel funding from founders of projects such as Polygon, Manta, Galxe, Sei, Nansen, and Story Protocol, as well as KOLs including Icebergy, MoonOverlord, NaniXBT, and Dingaling.
Morph plans to use the funding to accelerate team building, enhance developer incentives, expand marketing efforts, and further establish its presence in the L2 ecosystem while improving its technical infrastructure.
Cecilia Hsueh, Co-founder and CEO of Morph, stated that Morph represents a new development in L2 solutions, aiming to provide project founders with a one-stop development tool and solution. Morph is built on three key technologies: decentralized sequencer, Optimistic zkEVM integration, and modular design, with Optimistic zkEVM being the most important.
Azeem Khan, Co-founder and COO of Morph, stated that the existing L2 market focuses only on short-term gains in the next bull market cycle, rather than pursuing long-term sustainable development. At Morph, they aim to help developers build DApps that can truly have a long-term impact and win mainstream user groups. They have been committed to decentralization from the beginning and are one of the first L2s on Ethereum to use a decentralized sequencer.
Morph will provide developers with more user-friendly development tools and assistance in completing the entire process from initial incubation to potential token listing. In addition, a series of developer incentive programs will be announced, providing additional resources. More information about Morph can be found in the launch announcement of the public test version on Medium.
Investors have expressed their support for Morph. Haseeb Qureshi, Managing Partner at Dragonfly Capital, and Paul Veradittakit, Managing Partner at Pantera Capital, both believe in the potential of Morph.
Morph is an EVM L2 that utilizes optimistic zkRollup technology and offers unlimited possibilities in finance, social, entertainment, gaming, and lifestyle domains. It is the first L2 on Ethereum to use a decentralized sequencer, aligning with the core principles of Web3 – decentralization, transparency, and security. Morph is built for mainstream consumer audiences, making it a top choice for developers building such applications.
The founders of Morph have unique backgrounds and perspectives. Cecilia Hsueh, Co-founder and CEO of Morph, previously co-founded the top global cryptocurrency derivatives exchange, Phemex. Azeem Khan, Co-founder and COO of Morph, was formerly the Head of Impact at Gitcoin and one of the leaders of Gitcoin’s developer funding program. Together, they founded Morph to empower users who cannot effectively use traditional financial systems.
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