Blockchain platform NuCypher closes a funding round of over $10.675 million led by capital market firm Polychain Capital with Bitmain, Y Combinator participating.
Blockchain platform NuCypher has closed a professional staking funding round of over $10.675 million led by capital market firm Polychain Capital.
According to a blog post published by the company on Oct. 7, mining giant Bitmain, startup accelerator Y Combinator, blockchain development firm BitFury, Arrington XRP Capital, Notation Capital and many other companies were among the participants. It is also noted that they purchased 8% of the initial supply of NU tokens in total.
Furthermore, the investors reportedly also agreed to stage-lock their tokens for two years, which the platform believes will guarantee “a high level of stability and professional service to the NuCypher network.” All the investors in question have also committed to run the NuCypher’s nodes.
Public testnet launch
In the same blog post, NuCypher also announced the launch of its public testnet — the Ethereum Görli network. Users can also request testnet tokens for staking in the company’s Discord channel. The startup concludes:
“From here, we have a relatively clear road from public testnet to incentivized testnet to WorkLock token distribution to mainnet launch!”
According to company information website Crunchbase, NuCypher has obtained $15.9 million in funding so far and is developing a network that “gives developers a way to store, share, and manage private data on the public” networks.
As Cointelegraph recently reported, blockchain solution company Oneiro also secured a $5 million investment from Cosimo Ventures.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.