Binance Provides Support for ZKSync's Layer-2 Network Sophon Through an Unannounced Token Investment Round
Sophon, a blockchain project, has revealed that it is raising an undisclosed amount in a token round, with backing from Binance. The fundraising details were disclosed by Seb to The Block.
Sophon's primary goal is to accelerate the development of its "elastic chain", a gasless zkRollup Layer 2 network designed specifically for consumer Web3 applications such as gaming, social interaction, and entertainment. This network is built on the zkSync Elastic Stack with an emphasis on usability for ordinary users rather than purely on DeFi or high-throughput financial applications.
The focus on consumer applications differentiates Sophon from other Layer-2 blockchains like Solana, Base, zkSync, Optimism, and Arbitrum in several ways. While these platforms often prioritize high-performance DeFi, trading, and general-purpose smart contracts, Sophon is specialized in creating a Web3 consumption ecosystem aimed at everyday users engaging in gaming, social networking, and AI-driven apps.
Sophon emphasizes a gasless experience, which is particularly user-friendly for consumer apps where frictionless microtransactions enhance UX. This contrasts with other Layer 2s like Optimism and Arbitrum where users still typically pay gas fees, albeit lower than on Ethereum mainnet.
Sophon is built as a Validium Layer 2 on top of zkSync Elastic, leveraging zero-knowledge proofs (zkRollups) but using a Validium data availability model. This approach favors scalability and cost-efficiency tailored for consumer dApps.
Sophon's integration with zkSync Elastic and data platforms such as Chainbase enables real-time, scalable, modular data streams usable for AI agents and complex Web3 applications. This positions it uniquely for AI-enabled user experiences, unlike several other platforms more narrowly focused on DeFi or simple scalability.
Sophon's vision is to create a seamless, engaging, and culturally rich ecosystem that integrates web3 with everyday lifestyle applications. The latest fundraising comes ahead of the layer-2 blockchain network's planned mainnet launch next month.
The fundraising was structured as a simple agreement for future tokens (SAFT). The company's pseudonymous co-founder and CEO Sebastian "Seb" said the closest rivals to Sophon are Solana and Base. The fundraising was led by Sophon's seed round investors Paper Ventures and Maven11, with additional participation from Spartan, SevenX, OKX Ventures, and Huobi Ventures.
Sophon's chain is built using Matter Labs' ZKSynch stack. The company previously raised $60 million in a node sale a few months ago. Sophon allows developers to build apps that are deeply connected with retail, with a strong focus on platform and product as the main aim.
Sophon has also secured partnerships with distributed cloud compute infrastructure Aethir, Web3 gaming platform Beam, and predictions layer Azuro. These partnerships will undoubtedly contribute to the growth and success of the Sophon ecosystem.
- The latest fundraising round for Sophon's web3 project, aimed at developing a gasless zkRollup Layer 2 network for consumer applications, has been led by seed round investors such as Paper Ventures, Maven11, Spartan, SevenX, OKX Ventures, and Huobi Ventures, with backing from Binance.
- With its focus on consumer applications like gaming, social interaction, and AI-driven apps, Sophon aspires to create a seamless, engaging, and culturally rich ecosystem that integrates web3 with everyday lifestyle applications, positioning it uniquely for AI-enabled user experiences within the finance, technology, and community sectors.
