Bodhi Network, a San Francisco, CA-based blockchain startup, secured $1.5M in seed funding.
The round was led by DHVC (Danhua Capital), with participation from angel investors including INBlockchain founder Xiaolai Li, Qtum founder Patrick Dai, and Kuaidi Founder Weixing Chen.
The company intends to use the funds to expand its engineering and development team, and to prepare the infrastructure for a public initial coin offering (ICO) in September.
Founded in May 2017 by veteran blockchain developer Xiahong Lin, Bodhi provides an open-source, decentralized prediction market platform focusing on Chinese market. Inspired by ancestor frameworks Augur and Gnosis and based on the blockchain and smart contracts technology, Bodhi has developed a new protocol that introduced a replaceable Oracle framework – combining third party Oracle and voting-based Oracle – which makes the prediction markets more effective and autonomous.
The platform allows users to create and trade on the outcome of finance, sports, politics, and any other global events. It is powered by the Bodhi digital token (BOT), which will be used to pay for fees and collaterals, and will be the currency used to invest in event outcomes.