Sophon Raises $60M in Node Sale for Layer-2 Hyperchain

Sophon, a layer-2 “hyperchain” leveraging zkSync and modular blockchain tech, raised $60 million through a node sale, selling 121,000 nodes.

Through a node sale, Sophon has raised $60 million. It’s a layer-2 “hyperchain” that uses zkSync and modular blockchain technology. The deal, which offers 200,000 nodes for purchase in several tiers, has already sold 121,000 nodes, according to the statement on Wednesday.

This funding round follows a $10 million one that Spartan, OKX Ventures, SevenX, Paper Ventures and Maven 11 spearheaded for them.

According to a statement from Sophon, the firm plans to quickly develop its platform and deliver it in Q3 2024 with the zkSync ZK Stack toolkit. We will use the funds for this purpose.

They claim that even with the purchase of 121,000 nodes thus far, the platform won’t have that many validators.

Buyers of ERC-721 tokens will be able to acquire Sophon tokens (SOPH) and take part in the Sophon Network’s validation, according to the business. According to the statement, node license holders will receive 20% of the token supply within the first 36 months following the launch of their mainnet.

Former zkSync Head of DeFi Sebastien (‘Seb’) and Merit Circle alias Pentoshi co-founded Sophon.

With zkSync features like native account abstraction, the team is building an entertainment-focused L2 with the goal of onboarding the next generation of crypto users with a smooth user experience.

Seb stated that using the ZK Stack was an obvious choice when he wanted to construct Sophon. When compared to competing stacks, I am an expert on the product.

The focus here is on long-term planning, and I have no doubt that the decisions Matter Labs took on infrastructure and design will become self-evident in hindsight. The incredible crew at Matter Labs is someone I will continue to collaborate with closely.