Morph, which led a $19 million seed round of financing by Dragonfly Capital, announced the construction of a developer-friendly L2 that brings real-world value to global users.
Focus on value-driven DApp ecosystem on Ethereum L2
Morph
announced today the successful completion of a $19 million seed round of financing, led by Dragonfly Capital, with participation from Pantera Capital, Foresight Ventures, The Spartan Group, MEXC Ventures, Symbolic Capital, Public Works, MH Ventures, and Everyrealm. In addition, Morph has also raised $1 million in angel funding, with investors including founders from projects such as Polygon, Manta, Galxe, Sei, Nansen, and Story Protocol, as well as KOLs such as Icebergy, MoonOverlord, NaniXBT, and Dingaling.
Morph plans to use this round of financing to accelerate team building, enhance developer incentives, expand marketing efforts, and further enhance its visibility in the L2 ecosystem, as well as improve its technical infrastructure.
Cecilia Hsueh, co-founder and CEO of Morph, said:
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, namely decentralized sequencer, Optimistic zkEVM integration, and modular design, with Optimistic zkEVM being the most important.
Azeem Khan, co-founder and COO of Morph, said, “The existing L2 market focuses only on short-term gains in the next bull market cycle, rather than pursuing its own long-term sustainable development. At Morph, we will help developers build DApps that can truly have a long-term impact and win mainstream user groups. We 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, to be announced soon, will provide additional resources. More information about Morph can be found in the Medium launch announcement.
Investor Statements
Haseeb Qureshi, Managing Partner at Dragonfly Capital, said,
Paul Veradittakit, Managing Partner at Pantera Capital, said,
About Morph
Morph is an EVM L2 that uses optimistic zkRollup technology, providing unlimited possibilities in fields such as finance, social, entertainment, gaming, and lifestyle. Morph is the first L2 on Ethereum to use a decentralized sequencer and is consistent with the core principles of Web3 – decentralization, transparency, and security. Morph is built for mainstream consumer audiences, making it a top choice for developers to build 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, was the Head of Impact at Gitcoin and one of the leaders of the Gitcoin Grants program. Together, they co-founded Morph to empower users who cannot effectively use traditional financial systems.
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