November 8, 2023

Blockchain Projects Raised $34.7 Mln from October 30 till November 3

Blockchain technology

Blockchain technology

DeFi Llama revealed that blockchain projects raised $34.7 million across nine deals during the last week of October till November 3.

According to DeFi Llama’s data, this amount is significantly less than the previous week’s $107 million. The largest raise of the week was by Ekubo Protocol, a StarkNet-based market maker, which received $12 million worth of UNI from Uniswap DAO in exchange for a 20% share of governance tokens.

Modulus, a zero-knowledge AI data verifier, raised $6.3 million in a round led by Variant and 1kx, while zero-knowledge infrastructure provider Toposware received $5 million in a seed+ round led by Evolution Equity Partners.

“Many decentralized apps (dApps) have been slow to leverage AI because of the added security concerns,” Tom Couture, digital asset strategy associate at FundStrat, said, adding: “Modulus strives to solve this issue by leveraging zero-knowledge proofs to verify that AI providers don’t manipulate their algorithms efficiently.”

Modulus aims to protect the computational future by providing cryptographic accountability tools as artificial intelligence (AI) becomes increasingly integrated into society, according to Couture.

In addition to Modulus, Vaas, an AI-powered analytics firm, secured $2 million in pre-seed funding, indicating that AI projects accounted for almost one-fourth of the total amount raised during the week.

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