🚀 Ethereum-based encrypted layer 2 network TEN announced that it has completed a $9 million funding round backed by banking consortium led by R3.

🔒 TEN is a layer 2 rollup platform targeting encryption, MEV prevention, scalability and gas efficiency. It offers a balance between optimistic-based L2s and ZK-Rollups.

🔧 TEN allows developers to choose which parts of their smart contracts they want to keep private and which parts they want to keep open. Other features include fast hyperlinks and secure random number generation.

💼 Other companies participating in the funding round include Republic Crypto, KuCoin Labs, Big Brain Capital, DWF Labs and Magnus Capital.

📅 TEN is currently in the testnet phase, with the mainnet planned to be launched in October.