MultiVM's execution layer Cytonic completes $8.3 million seed round financing, led by Lattice and Lemniscap

ChainCatcher news, according to Cointelegraph, the MultiVM execution layer Cytonic has completed a $8.3 million seed round financing, led by Lattice and Lemniscap, with participation from IOBC, Nomura, Lyrik, Public Works, Arthur Hayes, and other notable investors. Currently, Cytonic is compatible with EVM and SVM, allowing existing tools, wallets, and DApps running on EVM or SVM chains to migrate directly to Cytonic and operate seamlessly.

ChainCatcher notes that Cytonic was co-founded by former Spin Labs executive Ivan Miskovic, former Foresight Ventures partner Chelsea, and former Faraway senior engineer Badconfig. By introducing new technologies such as MultiVM and MultiRPC, it launched the first Layer1 blockchain capable of running multiple virtual machines within the same network and sharing storage, enabling developers to deploy existing applications from multiple virtual machine networks like EVM on Cytonic without rewriting code, simplifying the development and scaling process, while also allowing users to perform synchronous cross-virtual machine atomic swaps.