Zulu Network Raised $3 Million

Published on: 06.04.2024
Zulu Network Raised $3 Million

Zulu Network raised $3 million in the pre-seed round to revolutionize Bitcoin Layer 2. The Zulu Network is the first Two-Tiered Bitcoin Layer 2 offering EVM and UTXO support.

This pre-seed investment featured participation from Cryptogram Venture (CGV), D11 Labs, Web3.com Ventures, Satoshi Labs, Splinter Node Capital, Polk Street Capital, BlueRun Ventures China, Ledger Capital, Link Capital, Jingle Mining, Waterdrip Capital, K24 Ventures, and CatcherVC, among others.

Zulu Network – A New Introduction

Zulu Network, a trailblazer in Bitcoin Layer 2 solutions, features a distinctive two-tiered architecture. This platform accommodates both EVM and UTXO, leading to groundbreaking progress in the Bitcoin ecosystem.

The Zulu Network introduces a pioneering dual-layer architecture on Bitcoin, incorporating L2 and L3.

ZuluPrime (EVM)
An EVM-compatible L2 platform aimed at building a new BitFi (Bitcoin DeFi) ecosystem through smart contracts and decentralized applications (dApps).

ZuluNexus (UTXO)
A L3 platform that integrates the scalability of UTXO and focuses on innovation of Bitcoin’s original ecosystem and native assets.

Decentralized Bitcoin Bridge Infrastructure

Zulu Network is in the process of creating the initial decentralized Bitcoin bridges. These bridges will link all Bitcoin Layer 2s and the entire cryptocurrency ecosystem to the Bitcoin network.

Furthermore, Zulu is developing and supporting a diverse ecosystem within the Bitcoin economy. This enables native Bitcoin assets to interact with advanced DeFi applications and financial services, all while maintaining the Bitcoin Network’s original security, dependability, and functionality.

“Zulu Network’s innovative dual-layer network structure within the Bitcoin ecosystem not only provides users with more stable and innovative services but also offers tremendous value and potential for DeFi applications. The EVM compatibility and smart contract functionality of ZuluPrime, along with the hybrid design of UTXO and account types in ZuluNexus, represent new directions for the future development of the Bitcoin ecosystem” — Steve Chiu, founder of CGV, a leading blockchain investment and fund of funds (FoF)

Entering a Fresh Bitcoin Era with Zulu Network

This funding will kickstart a new era for BitFi (Bitcoin DeFi) and broaden the possibilities for Bitcoin native assets within the entire cryptocurrency realm.

Zulu will concentrate on the following areas:

  1. Dual-layer Architecture
    The Zulu Network plans to improve ZuluPrime and ZuluNexus infrastructure by enhancing EVM compatibility, UTXO scalability, and smart contract functionality for DeFi applications.
  2. Decentralized Bitcoin Bridge Advancement
    Zulu Network is pioneering a fully decentralized Bitcoin Bridge, focusing on enhancing bridge infrastructure to connect Bitcoin Layer 2 and the entire crypto industry through a unique architecture.
  3. Ecosystem Expansion
    Investing in ecosystem expansion to attract developers for innovative BitFi applications and form strategic partnerships to enhance Bitcoin DeFi adoption and utility.
  4. Research & Development (R&D)
    Zulu Network invests in research and development to improve Bitcoin’s capabilities and integration within the Zulu architecture.

Zulu Network’s Decentralized Bitcoin Bridge Links Bitcoin Layer2 ecosystems to the Bitcoin Network, fostering innovation for developers and users in the Bitcoin Economy.

At the time of writing, the Zulu Network Tesnet LWAZI is live!

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