HomeCayman IslandsXProtocol Raises USD800K; Total Funds to USD5.2M

XProtocol Raises USD800K; Total Funds to USD5.2M

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XProtocol, a George Town, Cayman Islands-based provider of a modular entertainment-powered chain leveraging Base’s Superchain technology, raised USD800K.

This latest round, which brought the total amount to USD5.2M, saw participation from Cogitent Ventures and Zephyrus Capital. They joined Saison Capital, Dragonfly, and zVentures.

The company intends to use the funds to expand operations and its development efforts. Looking ahead, XProtocol plans to onboard new platforms, entertainment, and gaming projects later this year, which are yet to be announced. These forthcoming initiatives aim to broaden the ecosystem further, creating more opportunities for developers and users alike.

XProtocol is a modular entertainment-powered chain leveraging Base’s Superchain technology, which focuses on entertainment, gaming and AI applications, providing scalable infrastructure and a developer-friendly platform to  partner projects. Its compatibility with the Ethereum Virtual Machine (EVM) allows for migration of Ethereum projects and tools for developers. XProtocol Nodes, known as Xardian Nodes, will contribute to the decentralization of the XProtocol network. Node operators are expected to earn rewards for their participation in the network’s consensus process.

XProtocol has earmarked 20% of its token’s total supply for node license holders to distribute over 36 months after Xprotocol’s mainnet launch, planned in Q3 2024.

Among the protocol partners is Wonderverse, a gaming publishing studio building multichain IP onboarding the next billion gamers into web3 and DestinyX, an entertainment-focused gaming portal and crypto trading superapp. 

FinSMEs

28/06/2024