PANews reported on May 22 that Stripchain raised $10 million in its latest funding round, aiming to simplify the blockchain user experience, according to Cointelegraph. This round of funding was led by Sora Ventures, with participants including Hyperithm, Shima Capital, Hypersphere, Mechanism, and Ascending Assets, as well as angel investors Santiago Santos, Stephane Gosselin of Frontier Research, and Ryan Selkis of Messari. The funding will help Stripchain achieve its goal of promoting widespread adoption of Web3 by improving user experience and interoperability.

Stripchain is an interoperability protocol designed to achieve large-scale chain abstraction, allowing users to use decentralized applications without focusing on the underlying blockchain systems. The protocol is led by pseudonymous researcher "0xnovachrono" and Isa Sertkaya and Narayana Pryusty. Stripchain is based on a system called stripVM, which allows applications to communicate and coordinate across different protocols, focusing on the transaction layer and using a proof-of-authority system. Stripchain is currently in private testing and is expected to launch a testnet in the coming months.