Nubit advances blockchain scalability with $12M total funding, integrating major Layer 2 frameworks and supporting multi-chain ecosystems, while pioneering an innovative data availability solution to unlock limitless applications in AI, SocialFi, and GameFi.
Nubit has successfully closed an $8 million seed funding round, led by Polychain Capital, with participation from Nomad Capital, Spartan Group, L2IV, Big Brain Holdings, GCR, Protagonist, Gate Ventures, Animoca, Mask Network, and others. This latest round brings Nubit's total funding to $12 million, advancing its mission to develop the most secure and scalable data availability (DA) layer for multi-chain ecosystems, supporting limitless applications including AI, SocialFi, and GameFi.
"I have known and collaborated with Prof. Yu Feng and the Nubit team for a long time. Their historical achievements in ZK, security, and blockchain give me confidence that their innovative data availability solution can unlock numerous application possibilities across various sectors."
– Luke Pearson, GP of Polychain Capital
Founded by UCSB computer science professor Yu Feng, Nubit integrates a decade of research to advance blockchain scalability. By leveraging Bitcoin’s economic security and optimizing key metrics such as fraud detection mechanisms, attestation security, and accessibility with Zero-Knowledge technology, Nubit ensures unparalleled trust and reliability while achieving scalability through a high-performance consensus algorithm and innovative data structures like the KZG-based Namespaced Merkle Tree.
As the crypto landscape evolves, enabling unlimited innovations with the most secure and scalable data availability layer is crucial. Everyone wants to use Bitcoin's block space to secure their blockchains due to its unparalleled security, but the limited space and high costs make this impractical. Nubit addresses these challenges by leveraging Bitcoin’s economic security to provide an innovative data availability layer that ensures both security and scalability. It brings Bitcoin-level security to various applications and infrastructures, effectively bridging the gap between Bitcoin-native solutions and the broader multi-chain ecosystem.
Debuting as a leader in Bitcoin Season 2, Nubit has integrated major players such as Babylon, BounceBit, Unisat, and Merlin Chain. Furthermore, to address the insecure execution layer in the Bitcoin ecosystem, Nubit is committed to developing a programmable, modular, and trustless execution layer for meta-protocols like BRC-20 and Runes. The academic paper “Stateless and Trustless Execution Layer for Meta-Protocols on Bitcoin” lays the foundation for new possibilities in the Bitcoin ecosystem.
Beyond the Bitcoin ecosystem, Nubit recently extended its support to all major Layer 2 frameworks, including Polygon CDK, OP Stack, Arbitrum Orbit, and Scroll, making it a universally applicable data availability solution. As Nubit expands, its strategy now includes a broader scope, focusing on unlocking new possibilities for AI/ML and on-chain gaming across multi-chain ecosystems.
In April 2024, Nubit launched its Pre-Alpha Testnet, engaging 155,115 users, deploying 5,294 modular services, and processing 561,862 transactions. The team will launch the Alpha Testnet in June, the final phase before the mainnet launch later this year.