Bittime - Find out about Zapper Protocol, a DeFi platform that introduced the ZAP token to interpret Ethereum blockchain data. The support of major investments and indexing technology makes access and understanding easier for users.
Zapper Prepares Utility Token for New Protocol
The goal of the Zapper Protocol, created by DeFi aggregator and portfolio management tool Zapper, is to encourage the interpretation and contextualization of on-chain data. Additionally, the platform plans to launch its native ZAP token in the fourth quarter of 2024.
"By making Ethereum readable, we reveal to everyone what Ethereum is all about. Ethereum is a social network, and we bring that out," Zapper said at advanced coding to understand it.
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Zapper Protocol Announced At Launch
The interpretation layer of the first part of the Zapper Protocol was announced at launch today. According to Zapper, this layer will allow users to contribute two types of event translators and position translators.
Event translators convert complex blockchain transaction data into a readable format, while position translators add missing positions or balances to Zapper. In addition to providing rewards for data interpretation, the project will enable the use of ZAP utility tokens for data access payments.
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Zapper Raises $15 Million Series A Round
Zapper, founded in 2020, previously raised a $15 million Series A round led by Framework Ventures in 2021, with high-profile participants like Mark Cuban and Ashton Kutcher's Sound Ventures.
Foresight Ventures became a majority investor in The Block in November 2023, and they have also invested in other companies in the crypto space. Foresight Ventures uses Crypto Exchange Bitget as an anchor LP. The block continues to operate independently to provide objective, effective and timely crypto industry news.
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Conclusion
Zapper, a platform for portfolio management and decentralization, has announced the launch of Protocol Zapper. This protocol aims to interpret and contextualize on-chain data on the Ethereum network. Additionally, they plan to launch the utility ZAP token in the fourth quarter of 2024. Large investments, including a $15 million Series A round conducted by Framework Ventures in 2021, support the project. By using their indexing technology, Zapper seeks to make blockchain data easier to understand for non-expert users.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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