ZkSync 'Hyperchain' Sophon Raises $60 Million Via Node Sale

Sophon, a zkSync "hyperchain" or a Layer 2 network being built using Matter Labs' modular, open-source framework ZK Stack, has raised around $60 million via a node sale. The sale offered 200,000 nodes for purchase with a tiered pricing model, ranging from 0.0813 ETH to 2.0556 ETH ETH/USD per node. However, investors purchased 121,000 nodes, yielding Sophon around $60 million in wrapped ether (wETH), the startup said Wednesday. In terms of wETH, Sophon collected 20,800 wETH, Sebastien ("Seb"), Sophon's semi-anonymous co-founder and former head of DeFi at zkSync, told The Block in an interview. Sophon's other two co-founders are crypto Twitter personality Pentoshi, who has nearly 800,000 followers, and "a trader and team member at Merit Circle" a gaming-focused decentralized autonomous organization.

Read the full story at The Block.