🟩 A Fully Aligned Round: $20M Series A Round with Hack VC as lead investor 🟩
Aligned is pleased to announce a $20M fundraise led by Hack VC, with support from DAO5, L2Iterative, NomadCapital_io, FinalityCap, Symbolic VC, Theta Capital, J17, EVG Ventures, Decima fund, Protagonist, and other strategic partners and angels.
We want to specially thank Alex Pack, Ed Roman, and Rodney from Hack VC for their support.
What?
Aligned, thanks to EigenLayer, enables Ethereum to become a better, faster, and much cheaper settlement layer for validity and ZK proofs. We verify proofs cheaply and quickly, and post their results in Ethereum and any DA layer that the developer wants. We provide developers with new options to focus on building the best products possible for the users.
Why?
Until recently, it was difficult for engineers to prove their code. They had to write circuits to generate proofs. A few months ago, it became possible for Rust developers to easily prove their code. Dozens of companies are working on accelerating the speed at which proofs are generated. As an industry we are also close on having hardware acceleration to quickly generate proofs close to real time.
In the future, proof generation won’t be the biggest bottleneck but on-chain proof verification. Applications that use validity and ZK proofs can’t be implemented in Ethereum due to the high costs of verification. Also, it’s currently impossible to verify some proving systems on Ethereum due to its high costs or due to how the EVM works.
We believe that by reducing barriers and friction for newcomers, decreasing the proving time, and lowering the costs of on-chain verification, we will unlock unprecedented levels of exploration and innovation within the space.
How?
We verify these proofs, post the results in Ethereum and any DA layer. We provide the developer with an SDK to check the results of our verification of proofs in any smart contract. This is only possible thanks to being an EigenLayer AVS that runs different ZK and validity proofs verifiers written directly in Rust and Go without any VM in a decentralized network. In addition we will also enable developers an aggregation layer that will aggregate all proofs that then will be verified in Ethereum.
Read the draft white paper here: https://whitepaper.alignedlayer.com
Check out the code here: https://github.com/yetanotherco/aligned_layer
When?
We already have a first simple testnet working with Cosmos SDK. We are migrating to an EigenLayer testnet in the upcoming weeks. We are working hard to deliver mainnet as soon as possible. We are also working on showing different examples of what can be built on top of Aligned.
In the next few weeks, we will also be sharing the partnerships we are launching and the angels that are supporting us in our mission.
At last
Follow the founders' journey here: Federico Carrone, Roberto Catalán, Diego Kingston, and Mauro Toscano.
We would also like to extend a heartfelt thank you to CROZ Tax & Legal law firm, who has been supporting us since the start of our journey. Their guidance and expertise have been crucial to our progress and allowing us to build Aligned at this speed. If you want to get in touch with them you can find them on LinkedIn.
Stay tuned: 🐦 Twitter | 🗨️ Telegram | 👾 Discord | 🌐 Website | 🌌 Galxe | 📝 Manifesto
