Recently, we introduced KYVE and our vision to build the most efficient decentralized middleware of Web 3.0. We could not have asked for a better response from the community.

What was supposed to be a one-off bounty project turned out to be the beginning of our entrepreneurial journey fueled by the incredible interest in our solution.

Four months later, not only have we launched our Alpha Testnet, but we’re excited to share that we have collaborated and integrated with major blockchains, including Arweave, Avalanche, Cosmos, Polkadot, and Solana.

We are also excited to announce that we have successfully closed a $1M pre-seed round, led by Permanent Ventures and comprised of notable investors, including leading crypto funds Hypersphere Ventures, 4SV, Compute Ventures, Lemniscap, Bering Waters, Mechanism Capital, D1 Ventures, Volt Capital and a group of strategic angel investors including Mark Heus, Farid Rached, Christian Stroh, Emanuel Ferm, Scott Moore, Kenneth Ng, lllia Polosukhin, and Tate Berenbaum. We are likewise proud to count Arweave, Avalanche Foundation, Interchain Foundation, NEAR Foundation, and Solana Foundation as investors.

Our mission is ambitious but necessary: we want to help Web 3.0 projects to reach infinite scalability by storing and computing data reliably and efficiently.

With our decentralized archival framework, we offer a unified solution for all blockchain data needs. We standardize, validate, and permanently store any generated data stream. By leveraging Arweave, our solution secures the scalability, immutability, and availability of these resources over time.

A brief intro to KYVE

Data providers can seamlessly store and verify their data streams by setting up their archiving pool. Each pool is a decentralized autonomous organization (DAO) powered by SmartWeave, the Arweave smart contracting language.

Uploaders and validators secure the validity of the data inside each pool:

• Uploaders fetch data from a source and can perform computational work before storing it on Arweave.
• Validators determine the integrity of the data and have the ability to vote on the slashing of an uploader’s stake if terms are not respected.

Once data is stored, it can easily be retrieved using KYVE’s query interface or by accessing it directly in Arweave. KYVE’s validation and Arweave’s immutability, combined, guarantee data integrity towards downstream users.

What’s next?

The financing will allow us to refine our technology and infrastructure, improve the developer experience and strengthen our product offering. We are committed to building a product that our users need, love, and use. Now, we are looking forward to bringing new talent to help us integrate with additional Layer 1s and expand to Layer 2s, grow our community and move Web 3.0 forward.

We want to thank everyone who has supported us so far on our journey from idea to launch, especially during these times of uncertainty. The support from the community, our partners, and our investors has been outstanding, and we couldn’t have asked for better companions.

Want to get involved?

Join our Telegram, Discord, follow us on Twitter and Linkedin or write us an email at team@kyve.network.