XION secured $25M in funding with backing from Multicoin Capital, Animoca Brands, Laser Digital, Mechanism Capital, The Spartan Group, and Morningstar Ventures.
Morningstar Ventures backed this project about two years ago, and we are excited to back this L1 blockchain project again and support the future ecosystem.
Web3 still faces adoption challenges due to complex UX and jargon. XION’s "Generalized Abstraction" is an infrastructure product that aims to remove these frictions and help developers build, launch, and scale consumer-ready Web3 products.
The XION testnet has already achieved remarkable success. It boasts over 1.3 million Meta Accounts, processes over 15 million transactions, and fosters an ecosystem of over 150 projects. This impressive usage and adoption indicate our project's progress and potential.
The new capital will allow XION to accelerate its development further and expand its global ecosystem.
Looking ahead, the team is eagerly preparing for the mainnet release and the continued growth of our chain. These steps mark our commitment to pushing the boundaries of blockchain technology and our dedication to delivering on our promises.
Learn more here: xion.burnt.com/
