OneBalance Raises $20M to Simplify the Crypto Experience with “Off-Chain” Technology
OneBalance, a developer platform that aims to improve user experience in the crypto world, has announced that it has raised $20 million in a Series A funding round. The funding round, led by cyber•Fund and Blockchain Capital, marks a major step forward in the journey to “off-chain” complex blockchain interactions.
Solving the Chain Fragmentation Problem with New Technology
Founded by former Flashbots and Coinbase engineers Stephane Gosselin, Daniel Worsley, and Ankit Chiplunkar, OneBalance aims to simplify actions like depositing, swapping, and earning yield without users needing to understand which blockchain they are using.
Traditionally, interacting between blockchains requires users to navigate through different wallets, use bridges, and manage gas fees a complex and confusing experience. OneBalance solves this problem with a “chainless” toolkit based on a new technology called Resource Locks.
-Breakthrough Technology: Resource Locks
At the core of OneBalance is Resource Locks a technology that allows for parallel execution of multi-chain transactions, instead of waiting for sequential confirmations like traditional methods. This not only speeds up processing by 40%, but also completely hides the complexity of switching between blockchains.
With this new approach, balances on multiple chains are abstracted into a single “spendable” account. Transaction fees are no longer paid in native tokens (like ETH, SOL…), but are deducted directly from the token being used, making the user experience seamless and intuitive.
Early Successes and Future Vision
OneBalance has successfully tested Bitcoin-to-EVM swaps and is planning to expand to Solana and other major blockchains. In closed beta, the toolkit has been integrated by early partners such as DSX, Vooi, Spritz Finance, and Nuvolari.
Vasily Shapovalov from cyber•Fund said:
“We realized that Resource Locks can unify users and liquidity fragmented across multiple chains. OneBalance not only fixes the UX but also enhances the network effect of the entire crypto industry.”
Top Investors Join
In addition to the lead funds, the Series A round also saw the participation of Mirana Ventures, L2IV (Bybit), and prestigious investors who participated in the 2024 angel round such as Consensys, Wintermute, and other big names in the crypto space.
Conclusion: A Step Forward to a Borderless Web3
In an era where user experience is key to the popularity of Web3, OneBalance is paving the way for crypto to become more accessible and seamless than ever. With the backing of major funds and a seasoned technical team, the project promises to become the core infrastructure for the next generation of blockchain applications.
