With $200M TVL & $15B transaction volume, Socket is one of the leading Chain Abstration protocols.
100s of new chains create the need for ChA more than ever before.
Let's dive into the narrative and see how SOCKET is using ChA to solve problems.🧵
With $2.3B+ raised Chain Abstraction(ChA) narrative is one of the strongest crypto sectors currently.
But compared to the AI sector, ChA is still small:
While AI has an FDV of $60B, ChA has only $35B. This shows the room for growth the narrative has in the year 2025.
Let's look at one of the leading projects that makes chain abstraction easier.👇
SOCKET is the first chain abstraction protocol that offers a completely new way to build applications that can compose seamlessly across any chain.
It helps to execute additional logic off-chain and eliminates bridging with zero gas fee.
Apps and app chains, including Metamask, Coinbase, Rabby, Polymarket, Opensea, Aevo, and Kinto are powered by @SOCKETProtocol.
Has 400+ protocols with $15B in transaction volume.
You might have a question: What have they achieved with their tech?"
Here are some of them:👇
🔹Near Partnership: Socket and Near collaborated to create the Chain Abstraction Framework, simplifying app development by hiding blockchain complexities.
🔹Magic Accounts: It's a chain-abstracted account with a unified balance, spendable instantly across any blockchain without gas fees.
🔹Ethena: SOCKET powers Ethena in extending its $USDe and $sUSDe, enabling broader access and seamless integration across different blockchain ecosystems.
Some Important Stats:
🔹 $15B+ txn volume
🔹 14M txns
🔹 Securing $200M TVL
🔹 400+ Protocols
Socket raised a whopping $12M from Framework, who also raised a $100M round for Berachain.
Coinbase is also a strategic investor in Socket, and they use Socket within their products like Coinbase Wallet.
The Socket team consists of A players:
🔹 @vaibhavchellani - CoFounder of Socket, was the former protocol head of Polygon. He was a part of the team that developed the first zk rollup and built Hubble.
🔹 @0xrishabhai - CoFounder of Socket, helped acquire users for Amazon, Uber etc. Also led strategy at India's first unicorn.
🔹 @litocoen - Growth lead of Socket, former growth lead at Hop.
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