Miami, Florida, September 28th, 2023, Chainwire: Supra has raised over $24m in private investment rounds from strategic partnerships that recognize the game-changing R&D at the cutting edge of the Web3 stack. These partnerships include multi-billion dollar prominent VCs such as Animoca, Coinbase Ventures, HashKey, Prosus Ventures, Razer, United Overseas Bank Venture Management, Valor Equity Partners, and more.
Supra is developing an innovative cross-chain oracle and “bridgeless” communication network that aims to achieve sub-2 second finality with security guarantees that are projected to be over 10x more secure than incumbent bridges using their bespoke consensus algorithm, “Moonshot Consensus.” Supra is helping to facilitate the massive migration of Web2 to Web3 by turbo-charging oracles, cross-chain communication protocols, and their cutting-edge consensus mechanism to build a more secure and interoperable future. Over 1.5 million cryptocurrency data pairs are already being updated daily using Supra’s next-gen oracle technology.
In order to decentralize ownership and governance of the network, over 500 other funds, node operators, and angel investors have been brought on board. Supra has also announced a major gamified learn-to-earn airdrop opportunity for community members, with the goal of distributing $SUPRA to a wide range of stakeholders. Through their gamified learn-to-earn program, Supra is projected to have over 500,000 KYC’d token holders during their Token Generation Event, which is set to occur in early 2024.
Joshua Tobkin, CEO and Co-Founder of Supra, said he’s excited to bring Supra to market and give DeFi developers and end consumers a provably fair, high-performance oracle service. “We’re very pleased to have achieved the support of some of the biggest names in the blockchain industry,” he stated. “Building our network of strategic partnerships is extremely important to our future growth. These partnerships will go a long way towards developing the momentum necessary to bring a much needed security upgrade to the oracle space to further protect DeFi. Too many people have already been negatively impacted by decentralized finance hacks or exploits, and too much money has been lost. We see our cryptography driven solutions as a way to take speed and security guarantees to the next level, which ensures a higher level of protection for end consumers. We need to level the playing-field and we can’t do that until we secure oracles and bridges, which have been the weakest link in Web3. This is an absolute necessity in order for blockchain to achieve its full potential.”
Investor Quotes:
Yat Siu, the Co-Founder and Chairman of Animoca Brands, commented: “Oracles are an important link bridging data portability and interoperability across different networks, and we’
