OKX Ventures is pleased to announce the seed round investment in Kakarot, a Type 2.5 ZkEVM written in Cairo, a Turing-complete programming language. Cairo 0 is designed to compile into Cairo Assembly(CASM), which generates execution traces. These traces are then used to produce Stark Proofs.
Kakarot originated in October 2022 as a community initiative during a StarkNet Hacker House. Since then, it has evolved into a company with the mission of scaling Ethereum.
Thanks to robust and vivid community engagement and the capabilities of Cairo, developed by the Starkware team, Kakarot achieved full opcode equivalence in just two and a half months. Kakarot is currently in the process of launching its first testnet, which will function either as an L2 on Ethereum or an L3 on StarkNet.
Beyond this initial stage, Kakarot plans to become a Type 1 ZkEVM, which will enable any L1 node to generate Stark Proofs. Additionally, Kakarot is currently exploring other ZKPs, account abstraction, and scaling solutions that can contribute to the growth and resilience of the Web3 space.
“We are honored to participate in the seed round of investment in Kakarot, a Cairo language-based ZkEVM. Kakarot is built on Starknet, with an innovative coding language that solves the problem of the Starknet‘s incompatibility with EVMs, enabling the Ethereum ecosystem to thrive on Starknet.” Said Dora, Founder of OKX Ventures.
About OKX Ventures
OKX Ventures is the investment arm of the second-largest crypto exchange by trading volume and Web3 technology company OKX, with an initial capital commitment of USD 100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.
Find out more about OKX Ventures here.