【Universal】Wrapped asset protocol that enables trading of any token on any chain / Raised $9M from a16z, Coinbase and others / @universaldotxyz
Enables multi-chain experience for any asset.
Good morning.
Mitsui from web3 researcher.
Today we researched "Universal".
⚫️What is Universal?
⚙️Specifically how it works
🤖Super quick summary
💬Chain Abstraction approaches
⚫️What is Universal?
"Universal" is a wrapped asset protocol that aims to "make any token tradable on any blockchain".
In the past, assets and liquidity have been fragmented across blockchains, with a lack of tradable assets when launching a new chain and the hassle and lack of liquidity when using a bridge.（Universal solves these issues (assets not on-chain, dispersion of liquidity, and complexity of the user experience), and provides making all crypto assets highly liquid and on-chain tradable.
For example, coins and off-chain assets from other chains, such as Bitcoin and DojiCoin, can be tokenized (wrapped) on any corresponding chain, such as Ethereum, and made freely available for trading and use.
We will introduce how it works later, but the founding team will begin with an overview, including information on fundraising.
◼️ Founding Team
Universal was founded in the United States in 2024.The founding members are all experienced in the web3 industry, and the three main co-founders are
Austin Diamond - Co-founder (also former co-founder of Alongside and developer of the crypto assetIndex "AMKT") - Co-Founder (also former co-founder of Alongside, and a former co-founder of the crypto assets index "AMKT")
0xGaut (Gort, nickname) - Co-founder.Oversees the business aspects and operations of the project.
Jun Ho Hong - Co-founder.Head of Engineering and leads protocol development.
◼️Funding Information
The company raised $9 million ($1.3 billion) in its latest funding round on February 19, 2025.The lead investor is prominent VC Andreessen Horowitz (a16z), with participation from investors such as Coinbase Ventures, Four Cities Capital, and Data Tech Fund.
The round was made approximately six months after the project's launch, with Universal explaining that it "decided to raise funds to accelerate growth after user transaction volume reached sufficient traction (over $800 million in cumulative transaction volume)."
The funds raised will be used primarily for measures to expand the product and user base.Specifically, the plan is to invest in expanding support for new chains and assets, expanding use cases by strengthening linkages with other dApps, and strengthening the official front end (application for users).
⚙️ Specific Mechanisms
Now let's look at the specific structure and technical architecture of "Universal".
First, let's reiterate what "Universal" can do.
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