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The Koinos Group, the Philadelphia, Pennsylvania-based developer behind the free-to-use Koinos blockchain, has raised $500,000 in seed funding.
Founded in 2020 and led by CEO Andrew Levine, the Koinos Group continues to grow. Koinos is a general-purpose blockchain that enables developers to build free-to-use decentralized applications (dApps) using any programming language, lowering barriers to entry for decentralized innovation. This makes it easier and faster to launch powerful applications with a user experience on par with Web2 applications.
Following the successful launch of the Koinos mainnet, this round will allow the Koinos Group to build Koinos Pro, a subscription product that helps developers build and scale decentralized applications without barriers to entry.
Mainnet Koinos is a fully decentralized network launched on November 5th and launched without any initial coin offering, pre-mining or other initial distribution to insiders. Its new “Mana” system makes it free to use, allowing users to create accounts, transfer tokens, create NFTs, and execute smart contracts, all for free. Mana is not a token, but the unique property of the KOIN token that allows free use of the network and can be delegated to others, allowing those without any tokens to use a highly accessible blockchain.