Quick take:
- The company has so far sold 121,000 nodes according to the announcement on Wednesday.
- Sophon is building an L2 “Hyperchain” on zkSync powered by the Ethereum scaler’s ZK Stack toolkit.
- Sophon previously raised $10M in a round led by Paper Ventures & Maven 11, with participation from Spartan, SevenX and OKX Ventures.
Sophon, a zkSync-based layer-2 “hyperchain” leveraging modular blockchain infrastructure has raised $60 million via node sale. The offer, which includes 200,000 nodes for purchase structured in multiple tiers has already seen 121,000 nodes sold according to the announcement on Wednesday.
The latest raise follows Sophon’s $10 million round led by Paper Ventures & Maven 11, with participation from Spartan, SevenX and OKX Ventures.
Sophon will use the fresh capital to accelerate the development of its platform ahead of the expected launch in Q3 2024, alongside the zkSync ZK Stack toolkit, the company said in a statement.
According to Sophon, although so far, 121,000 nodes have been purchased, it doesn’t imply the platform will have as many validators.
The company said buyers are purchasing ERC-721 tokens, which will allow them to earn Sophon tokens $SOPH and participate in the validation of the Sophon Network. According to the announcement, 20% of the token supply will be emitted to node license holders over the first 36 months after Sophon mainnet launches.
Sophon is co-founded by Sebastien (‘Seb’), previously Head of DeFi at zkSync and the pseudonymous Pentoshi formerly of Merit Circle.
The team is dedicated to developing an entertainment-focused L2 that leverages zkSync features like native account abstraction to build a seamless user experience that will help onboard the next generation of crypto users.
“When I decided to build Sophon, choosing the ZK Stack was a no-brainer,” said Seb. “I know the product inside-out in comparison to other stacks on the market. It’s all about building for tomorrow rather than yesterday, and I’m convinced that in a few years, looking back at the design and infrastructure choices Matter Labs made will seem obvious. I will continue to work closely with the amazing Matter Labs team.”
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
