DePIN project U2U Network completes seed round financing, IDG Blockchain leads investment
2024-07-01 05:49:45
Centralized physical infrastructure infrastructure network ( depin projectdesk3cryptocurrencydesktopCrypto News
U2U Network, a decentralized physical infrastructure network (DePIN) project, announced the completion of a seed round of financing, led by IDG Blockchain, with participation from dappOS, Pontem, Lumoz, ZkEX, Avalon, Catalyst and Grindery. The company did not disclose the specific amount of this round of financing, but it is said to have reached "seven figures". U2U Network is building a Layer 1 blockchain network based on subnet technology. Each U2U subnet operates independently of the mainnet, which means that (1) subnets can continue to operate without interruption even if the U2U mainnet is down. It is reported that U2U Network also announced the launch of a $1 million donation to promote the development of the DePIN industry.
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