Singapore-based UncleMine, an incentive infrastructure for Web3 built on Solana, announced that it has raised $3 million in its latest investment round.
The investment round included Fenbushi Capital, HashKey Capital, Continue Capital, LongHash Ventures, GBV, A&T Capital, Kenetic Capital and many other important investment institutions from the sector.
Founded in June 2021, UncleMine aims to bring computing powers to smart contract blockchains using zero-knowledge proof technology. Computing powers, different hash rates, verifiable storage, bandwidth, computing resources, etc. They are the core resources on which blockchains and Web3 applications are built. These resources are still unable to participate in the DeFi ecosystem due to various technical difficulties, making their circulation difficult. The UncleMine network makes these computing powers verifiable, thus transparent and transferable.
UncleMine says its technology could allow computing power holders to authenticate their resources over an untrusted network and store their zero-knowledge evidence in an on-chain smart contract for third parties to verify and integrate. UncleMine said its ecosystem is supported and incentivized through its native token $UM. The project will adopt a DAO structure and grant governance rights to the community through the $UM token and NFTs.
According to the team’s statement, the new funds will be used to develop the UncleMine product, strengthen its marketing activities and recruit new hires. The alpha version of the UncleMine network will be released in December 2021, and the UM token generation event is scheduled for January 2022. For more information about the project, visit unclemine. You can browse the websites on org or join the global Telegam community channels and ask your questions.