a16z Crypto Leads $3.6 Million Seed Round for Decentralized Information Exchange Protocol Freatic - What Does It Do?
Freatic, a decentralized information exchange protocol built by a team of developers, has secured $3.6 million from a trove of investors.
The project, as revealed by the development team, has emerged from stealth mode and is gearing up for its public launch. Leading this investment round is the prominent crypto investment firm a16z (Andreessen Horowitz).
In an official Medium blog post, Freatic also highlighted the participation of other noteworthy investors, including venture capital (VC) firms such as Anagram, Archetype, Not3Lau Capital, and Robot Ventures, in this seed round.
Freatic is focused on providing access to untapped information hubs often shared amongst informal networks of acquaintances.
These untapped information hubs represent valuable resources and opportunities accessible to one group of individuals without the awareness of another group.
Given that the blockchain ecosystem is largely siloed from real-world events, Freatic aims to bridge this gap by utilizing blockchain cryptography and game theory.
To attain its aim of a decentralized information hotbed, the developers at Freatic are testing their information exchange development theories on two protocols: Alpha Factory and Capture The Alpha.
Alpha Factory is hosted on top of the Ethereum layer-2 scaling solution Polygon, focusing on curating crypto insights from individuals.
Freatic will provide incentives using a peer consistency mechanism to ensure relevant and accurate information is shared. This approach encourages positive behaviors among those transmitting information to the Freatic protocol.
Meanwhile, Capture The Alpha is operational on another layer-2 scaling solution called the Arbitrum protocol. This platform utilizes a competitive on-chain
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