Cosmos-based smart contract platform Agoric raises $32 million, launches mainnet
Tribble is a former principal architect at Microsoft and leads Agoric with chief scientist Mark S. Miller, a Google research scientist who wrote a paper called Agoric Open Systems in 1988.
Now that the Agoric mainnet has been launched and the new capital has been raised, the platform hopes to build and grow its developer community. Tribble said Agoric will reward early developers with its native Build (BLD) token.
Along with the mainnet, Agoric has also launched its native automated market maker (AMM) to let users swap tokens. It has also launched a native USD-pegged stablecoin called RUN for paying fees within the network.
There are currently 22 people working for Agoric and Tribble plans to hire around ten more people across various roles, he said.
Agoric is backed by notable investors, including Polychain and Naval Ravikant. The latest private token sale round was backed by several investors, including Placeholder, NGC Ventures, Spartan Group, Compound VC, Acrew Capital, Figment, and Chorus.One.
The round brings Agoric's total funding to date to $38 million. It has previously raised $6 million in two rounds. Tribble said Agoric has no plans to raise more funds in the near future.
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