Interlay develops interBTC, a trustless wrapped-Bitcoin protocol and bridge technology that lets users invest, earn and pay with BTC on other chains. The technology grew out of XCLAIM after years of academic research by founders Alexei Zamyatin and Dominik Harz at Imperial College’s cryptocurrency lab. Development began on Polkadot; Interlay built the interBTC (formerly PolkaBTC) parachain in 2020 with Web3 Foundation support and collaboration with Parity Technologies. interBTC incorporates staking derivatives, trustless multi-collateral stake delegation, MakerDAO-style multi-collateral balancing and on-chain ECDSA key derivation to improve capital efficiency, decentralization and vault security. Interlay plans to expand beyond Polkadot to other blockchains such as Ethereum and Cosmos, to develop v2 of its bridge technology and to grow its team. The company announced an equity seed raise of $3.04M and has received grant support (including Web3 Foundation backing and a Cosmos grant reported in the article).

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Jul 2021