Funding from the private sale will fuel the next stage of Agoric’s growth, focusing on scaling the ecosystem and developer programs. Building on existing initiatives to incentivize infrastructure development, such as the recent developer bounties, additional funding will see the launch of further entry points into DeFi via the Agoric smart contract development economy.
Committing to support the continued development of Agoric and its mission to build the smart contract technology for the decentralized economy, the $32M private sale saw participation from early investors, including MetaStable, Polychain, Rockaway, and Gumi Ventures.
It also gained support from a cohort of backers including Placeholder, Dokia Capital, NGC Ventures, Spartan Group, Compound VC, DAO Maker, LD Capital, Nalu Capital, Spark Capital, RedBeard Capital, Acrew Capital, P2P, RELM Insurance, Figment, Chorus.One, Age Fund, Iqlusion, and Pylon.
This first phase of the launch marks the introduction of the BLD staking token and the Agoric chain, built using the Cosmos SDK.
BLD (build) secures and stabilizes the economy by supporting staking, governance, and decentralization. Agoric has partnered with Keplr, a browser extension wallet for the inter-blockchain ecosystem, to support BLD. Keplr will also provide services for Agoric, including governance and staking.
“As an active crypto fund, we at NGC Ventures see a lot of promising, innovative projects at various stages of development. Agoric’s team of pioneers in smart contract development stands out from the crowd. We see tremendous potential for Agoric to shape the future of DeFi and be the springboard for the next generation of change-makers.” said Tony Gu, partner at NGC Ventures.