ZKsync

Token

Read

Sophon

<p><strong>Key Points</strong>:</p>  
<ul class="wp-block-list">
 <li><em>Binance Labs invests in Sophon in an undisclosed sum ahead of its mainnet launch and token deployment next month.</em></li>  
 <li><em>Sophon is a ZKsync “elastic chain,” or a Layer 2 network built using Matter Labs’ ZK Stack.</em></li> 
</ul>  
<h5 class="wp-block-heading"><strong>Binance Labs invests in Sophon, a ZKsync elastic chain, raising over $70M ahead of its mainnet launch and SOPH token deployment. Sophon focuses on consumer web3 apps.</strong></h5>  
<figure class="wp-block-image aligncenter size-large"><a href="https://coincu.com/wp-content/uploads/2024/10/telegram-cloud-photo-size-5-6339371140941725038-y.jpg" rel="noopener noreferrer nofollow"><img src="https://coincu.com/wp-content/uploads/2024/10/telegram-cloud-photo-size-5-6339371140941725038-y-1024x576.jpg" alt="Binance Labs Invests In Sophon ‘Elastic Chain’ In Token Round" class="wp-image-285473"></a>
 <figcaption class="wp-element-caption">
 </figcaption>
</figure>  
<h2 class="wp-block-heading" id="strong-binance-labs-invests-in-sophon-for-zksync-mainnet-launch-strong"><strong>Binance Labs Invests in Sophon for ZKsync Mainnet Launch</strong></h2>  
<p><a href="https://www.binance.com/en/blog/ecosystem/binance-labs-invests-in-sophon-to-accelerate-web3-integration-into-entertainment-gaming-and-ai-applications-3514593157017953750" target="_blank" rel="noopener noreferrer nofollow">Binance Labs has invested in ZKsync elastic chain Sophon</a>, an elastic chain, which is set to launch its mainnet the following month with the SOPH token. This latest development takes the total funding to more than $70 million.</p>  
<p>With the use of the ZK Stack framework, Sophon wants to develop a consumer-oriented web3 ecosystem, allowing for account abstraction and gasless transactions. Its mainnet launch will be another feather on its cap in retail reach.</p>  
<p class="has-background" style="background-color:#222222"><strong>Read more: <a href="https://coincu.com/269701-binance-labs-fund-reveals-season-7-project/" target="_blank" data-type="link" data-id="https://coincu.com/269701-binance-labs-fund-reveals-season-7-project/" rel="noopener noreferrer nofollow">Binance Labs Fund Reveals Exciting Season 7 Project Lineup!</a></strong></p>  
<h2 class="wp-block-heading" id="strong-sophon-secures-binance-labs-investment-prepares-for-mainnet-strong"><strong>Sophon Secures Binance Labs Investment, Prepares for Mainnet</strong></h2>  
<p>The Sophon project, which used ZKsync, raised funding from Binance Labs in front of the mainnet launch. It plans to extend its ecosystem with a total funding of $70M.</p>  
<p>Sophon is entirely about seamless web3 experiences: with the release of its mainnet, it will include a set of blockchain-powered decentralized applications in gaming, social networks, and ticketing with the SOPH token at its core.</p>  
<figure class="wp-block-table">
 <table class="has-luminous-vivid-orange-color has-text-color has-link-color">
  <tbody>
   <tr>
    <td><em><strong>DISCLAIMER</strong>:&nbsp;The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.</em></td>
   </tr>
  </tbody>
 </table>
</figure>

Binance Labs Invests In Sophon ‘Elastic Chain’ In Token Round

Table of Contents

Coincu

Other articles published on Oct 3, 2024

Weekly Article Recap: 9/16-9/20

'Japan's MicroStrategy' Buys More Bitcoin With Put Options Sale

Bitwise Files for XRP ETP with U.S. SEC, Expanding Blockchain-Based Investment Options

DTX Exchange (DTX): The Next Big Thing After Solana and Cardano? Why Investors are Betting on Thi...

Grayscale Launches Aave Trust, Expanding Crypto Product Offering

Missed 12,000% Rallies in Popcat & Bittensor? This DeFi Altcoin Could Still Turn Your $100 to $1,000

Join our free newsletter for daily crypto updates!