DappOS, a network focused on executing intentions, has raised $15.3 million in Series A funding led by Polychain. This funding will be used to streamline on-chain outcomes and address scalability and user navigation challenges in the blockchain landscape.
The blockchain world is experiencing rapid expansion, with the emergence of layer-1 (L1) and layer-2 (L2) blockchains. L1 blockchains, such as Ethereum and Bitcoin, serve as foundational networks where all transactions are processed directly on the chain. However, the growth of these networks has led to congestion and scalability issues.
To alleviate these issues, L2 solutions like the Lightning Network for Bitcoin and optimistic rollups for Ethereum have been introduced. These solutions process transactions off the main chain while still ensuring they are secured by the underlying L1 blockchain.
This blooming ecosystem of L1s and L2s is set to lower the barrier to launching new blockchains, potentially leading to an explosion in the number of networks. However, this proliferation also fragments the Web3 ecosystem, making navigation and interoperability challenging for users.
At the same time, decentralized applications (DApps) in areas like social finance and game finance are attracting users from the conventional Web2 world. These newcomers are unfamiliar with blockchain technology and seek streamlined workflows and intuitive interfaces. This emphasizes the need for cohesive, user-friendly solutions.
DappOS aims to bridge the gaps within the fragmented ecosystem by providing a streamlined, user-centric platform. The company has secured $15.3 million in Series A funding, led by Polychain, with contributions from Nomad Capital, IDG, Flow Traders, and NGC. This funding will support operational expansion and further development efforts.
DappOS has also gained recognition in the blockchain space, having been selected for the Binance Incubation Program’s Season 5 and receiving seed round investment from Binance Labs and Sequoia China.
The project operates by creating a two-sided marketplace that addresses supply and demand within the blockchain ecosystem. Service providers stake collateral to offer execution services, while developers utilize the platform to efficiently turn specific intents into on-chain results.
To enhance efficiency and cover various use cases, DappOS introduces the optimistic minimum stake (OMS) mechanism. OMS improves the network’s security for intent-based tasks by allowing the execution of tasks before their outcomes are verified. If a task fails, the responsible service providers are slashed through a consensus process to ensure user satisfaction or compensation.
DappOS’ OMS system benefits both service providers and users, as it enables cost-efficient and rapid task execution. The post-task verification process facilitates a decentralized verification strategy, enhancing the network’s efficiency and security.
With over 20 corporate projects and a user community of over 350,000, DappOS has already executed more than 1.5 million transactions. The company’s innovative approach promises to redefine how users and developers navigate the increasingly fragmented landscape of blockchain networks and applications.