Middleware layer 'Supra' announces completion of over $24 million in private funding round and has initiated a countdown for community airdrop activity.

Supra is driving the development of Web3 by building the next generation of oracle, cross-chain communication protocol, and cutting-edge consensus mechanism, creating a more secure interoperable infrastructure for the future of blockchain. Supra's oracle has currently achieved 1.5 million price feed data updates per day.

Completed a financing of over $24 million in the private placement round, which means these strategic partners recognize Supra's revolutionary research and development in Web3 infrastructure construction. Supra's doctoral research team has made significant contributions in academic fields such as secure multi-party computation, distributed consensus, and oracle, and has published multiple peer-reviewed white papers. The research team is led by Dr. Aniket Kate, one of the creators of KZG Polynomial Commitments, and is well-known in the industry for his important influence on Ethereum L2 extension. Under his leadership, Supra's technological innovation will also create new standards for middleware protocols in the blockchain industry.

Regarding funding, Supra has received support from multiple globally renowned digital asset funds and organizations, including Animoca Brands, BCW, Coinbase Ventures, FiveT Fintech (formerly Avaloq Ventures), Galaxy Interactive, Hashed, HashKey, Huobi Capital, MARBLEX, No Limit Holdings, Prosus Ventures, Razer.com, Republic, Shima Capital, Signum Capital, SMO Capital, Sound Ventures, Sublime Ventures, UOB Asset Management (United Overseas Bank), and Valor Equity Partners.

Due to the decentralization of token distribution having a long-term and crucial impact on Supra's decentralized governance, in order to achieve decentralization of network ownership and governance and strategically distribute token supply, over 500 funds, node operators, and angel investors have joined this array.

In addition, Supra's community airdrop countdown plan - Countdown to Blast Off is currently underway! The airdrop event adopts the GameFi model, integrates interactive experience, aims to reward community members for their support of the project, and also provides an opportunity for everyone to learn about the project's technology, allowing new players to earn $SUPRA while learning about Supra's latest features. The activity has now attracted more than 230,000 players who have passed KYC verification, and the airdrop event is planned to be held in early 2024, with an expected participation of over 500,000 players!

Looking to the Future

Joshua Tobkin, co-founder and CEO of Supra, expressed excitement about the release of Supra, as it will provide provable, fair, and high-performance middleware services for Web3 developers and end-users. He emphasized, "We are very pleased to have the support of some of the most important names in the blockchain industry."

Tobkin pointed out: "Establishing a strategic partnership network is crucial for our future growth. These partnerships will play an important role in the emergency upgrade of oracle security, further enhancing the security of DeFi."

He further explained: "Recently, too many people have suffered huge losses due to hacker attacks or vulnerabilities in DeFi. We firmly believe that Supra's cryptography-based solution is a new way to improve speed and security and protect end users. We cannot achieve fair competition until we ensure the security of oracles and cross-chains, which have always been the weakest links in Web3. Therefore, ensuring middleware security is an indispensable measure to fully unleash the potential of blockchain."

Animoca Brands

Animoca Brands co-founder and chairman Yat Siu said:

"Oracle is an important link that connects different blockchain data, achieving portability and interoperability. Therefore, we are pleased to support Supra as a foundational infrastructure project to help build a truly open metaverse."

Republic

Republic consultant Alex Ye said:

"Before Supra's in-depth research on the oracle problem and its L1 consensus, the cryptocurrency industry had not really devoted itself to solving the oracle problem. Although others have entered the field earlier, Supra's promise of better oracles is imminent due to their lower latency issues. Whether it is obtaining on-chain or off-chain data, oracles are the key to cross-chain infrastructure. Supra unleashes the unlimited potential of cross-chain liquidity and multi-chain web3 applications. I sincerely hope that Supra will become a symbol among traditional financial institutions and web3 developers, just as AWS, IBM, and Google are synonymous with Internet infrastructure in the Web2 world."

Hashed

Hashed Ventures spokesperson stated:

"Oracle is currently the most common vulnerability attack module. For the entire industry, it is crucial to try to weigh the pros and cons to improve this critical infrastructure. We are pleased to be part of the Supra journey because they have improved speed and security through complex random models. This solution will make a significant contribution to the further landing of Web3. Supra is very hopeful to open an incredible application door by redefining the vitality of the oracle, and we will work with the team to explore new boundaries."

Sound Ventures

Sound Ventures, the blockchain investors of Ashton Kutcher & Guy Oseary's team, Maaria Bajwa, stated:

"Supra and its outstanding team have built a powerful oracle in the past few years. The oracle can be flexibly expanded with the growing ecosystem. Its special node architecture ensures faster and safer breakthroughs than existing oracles while maintaining high throughput, which is crucial for the landing of Web3. With powerful oracles like Supra, DeFi users will be able to easily access cross-chain and cross-currency loans, and opportunities in the DeFi market will further expand. All of this means a lower cost and more user-friendly ecological blueprint for developers."

Prosus Ventures

Prosus Ventures spokesperson stated:

"With the continuous expansion of DeFi applications, the market is in great need of new multi-chain oracle solutions. We believe that Supra's technology will become a crucial part of the web3.0 DeFi ecosystem, as its technology improves security while achieving cross-chain interoperability and transaction finality in just a few seconds. We have full confidence in this outstanding team with deep industry understanding, and firmly believe that this ambitious organization can achieve the grand blueprint that other oracle solutions cannot achieve technically."

Huobi Capital

Huobi's spokesperson stated:

Huobi Capital is pleased to invest in Supra because they are developing and building the next generation of oracle infrastructure. We believe this experienced and outstanding team will provide a first-class oracle solution with higher throughput and greater security, and provide users with high-quality products. With the rich experience and broad perspective of the founding team, we look forward to supporting this ambitious organization.

FiveT Venture Capital

FiveT Ventures (formerly Avaloq Ventures) spokesperson stated:

FiveT Fintech is an early investor in web3 and financial service infrastructure. They work closely with the Avaloq ecosystem, which consists of over 150 financial institutions, and are honored to participate in Supra's strategic financing. We have witnessed the growing demand for off-chain data acquisition and believe that Supra, with its fast, reliable, and highly decentralized solution, will be an application capable of changing the game rules.

After learning about Supra's team, we were impressed by their profound understanding of the industry and fast-paced execution. For FiveT Fintech, Supra is an important addition to our strategic investment in web3 critical infrastructure, and we are pleased to establish a close ecological partnership with them.

HashKey

Hashkey Capital investment manager Harper Li said:

"Supra is defined as an IntraLayer with native oracle, native VRF, and native automation capabilities. The native oracle is one of the earliest products and has been tested in more than 20 testnets. The native VRF combines DKG technology and solves the problems of public output and latency in this field compared to other random number schemes. In the near future, native automation technology will be implemented on-chain for automated execution and collide with account abstraction to create huge imaginative space."

Sublime Ventures

Sublime Ventures Managing Partner Musthafa Ahmed said:

"Supra's initial goal was to create the next generation of decentralized cross-chain oracle solutions, but its development has surpassed that. As the first IntraLayer solution in the Web3 field, Supra has become a leader in the industry with its exceptional and unique technology stack. At the same time, it is also a cross-chain interoperability center that supports all major ecosystems in the blockchain industry."

Supra aims to build a low-latency interoperable infrastructure to fill the missing Web3 functionality in traditional blockchain designs. As a vertically integrated IntraLayer, Supra implements a shared security paradigm among multiple middleware services. This includes securely processing external data on-chain, achieving cross-chain consensus through bridgeless HyperNova, automation, VRF, and more. Through thousands of hours of research and simulation, Supra's technological breakthroughs are solving the oracle dilemma and optimizing network performance in security, throughput, finality time, composability, programmability, and more. Supra employs an academic approach in development, which is part of their commitment to improving Web3 performance and security. This approach is reflected in in-depth research, transparency, and rigorous peer review for every design and product release.

Supra will release more technical documents about the solution in the coming months. If you want to learn more about Supra's project updates and participate in future community airdrop plans, please visit the event website https://supraoracles.com/blastoff.

Meanwhile, we also welcome you to register for our whitelist at https://supraoracles.com/whitelist-invite/ to receive early access to more Alpha-level information.

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