Recently, weintroducedKYVE and our vision to build the most efficient decentralized middleware of Web 3.0. We could not have asked for a better response from the community.
What was supposed to be a one-offbounty projectturned out to be the beginning of our entrepreneurial journey fueled by the incredible interest in our solution.
Four months later, not only have we launched ourAlpha Testnet, but we’re excited to share that we have collaborated and integrated with major blockchains, includingArweave,Avalanche,Cosmos,Polkadot, andSolana.
We are also excited to announce that we have successfully closed a $1M pre-seed round, led byPermanent Venturesand comprised of notable investors, including leading crypto fundsHypersphere Ventures,4SV,Compute Ventures,Lemniscap,Bering Waters,Mechanism Capital,D1 Ventures,Volt Capitaland a group of strategic angel investors including Mark Heus,Farid Rached, Christian Stroh,Emanuel Ferm,Scott Moore,Kenneth Ng,lllia Polosukhin, andTate Berenbaum. We are likewise proud to countArweave,Avalanche Foundation,Interchain Foundation,NEAR Foundation, andSolana Foundationas investors.
Our mission is ambitious but necessary: we want to help Web 3.0 projects to reach infinite scalability by storing and computing data reliably and efficiently.
With our decentralized archival framework, we offer a unified solution for all blockchain data needs. We standardize, validate, and permanently store any generated data stream. Byleveraging Arweave, our solution secures the scalability, immutability, and availability of these resources over time.
Data providers can seamlessly store and verify their data streams by setting up their archiving pool. Each pool is a decentralized autonomous organization (DAO) powered bySmartWeave, the Arweave smart contracting language.
Uploaders and validators secure the validity of the data inside each pool:
Once data is stored, it can easily be retrieved using KYVE’s query interface or by accessing it directly in Arweave. KYVE’s validation and Arweave’s immutability, combined, guarantee data integrity towards downstream users.
What’s next?
The financing will allow us to refine our technology and infrastructure, improve the developer experience and strengthen our product offering. We are committed to building a product that our users need, love, and use. Now, we are looking forward to bringing new talent to help us integrate with additional Layer 1s and expand to Layer 2s, grow our community and move Web 3.0 forward.
We want to thank everyone who has supported us so far on our journey from idea to launch, especially during these times of uncertainty. The support from the community, our partners, and our investors has been outstanding, and we couldn’t have asked for better companions.
Want to get involved?
Join ourTelegram,Discord, follow us onTwitterandLinkedinor write us an email at team@kyve.network.