TechFlow News — Phi Labs, developer of the Cosmos-based smart contract platform, has raised $21 million in seed funding led by CoinFund and Hashed, with participation from 1confirmation, IDEO CoLab, Figment, Blockchain Capital, Wintermute, Chorus One, stake.fish, Lemniscap, Cosmostation, and Hypersphere Ventures. The new capital will be used to expand the team, develop products, and build the Archway protocol. The team currently consists of around 20 full-time employees and plans to grow to over 50 by the end of the year.
Notably, Phi Labs’ Archway protocol is an incentive-driven smart contract platform built on Cosmos that rewards developers. It provides tools for developers to quickly build and launch scalable cross-chain DApps, which in turn earn rewards based on their DApps' contributions to the network.
Risk Disclosure: This website's content is not investment advice and offers no trading guidance or related services. Per regulations from the PBOC and other authorities, users must be aware of virtual currency risks. Contact us / [email protected] ICP License: 琼ICP备2022009338号
