Privacy startup Nym brings in outside backers for $300 million developer fund (via RyanJamesWeeks)
A bevy of venture capital firms have committed $300 million to a fund that will incentivize developers to build on Nym’s technology.Nym Technologies, a Swiss privacy startup that shields online activity from surveillance using a mixnet, today unveiled a new $300 million fund to entice developers to its ecosystem.
“We want to incentivize open source and decentralized developers who we don’t know to start building on this network,” said Halpin in an interview with The Block. The launch of the Nym Innovation Fund comes just a few weeks after Nym launched its token across a number of exchanges including OKX and Huobi. Privacy advocate Edward Snowden spoke at the launch event.rolled out in recent months by Ethereum challengers like Avalanche and Algorand, the Nym Innovation Fund doesn’t offer"liquidity mining" rewards.
They went to Carmela Troncoso, co-inventor of a privacy-enhanced COVID-19 contact tracing framework; cryptography expert Daniel Bernstein, who will be working on speeding up Nym’s packet format; Tails, the software used by Edward Snowden to leak NSA secrets; and Nymbox, hardware designed by the community that plans to use Nym’s technology to keep computer traffic private.
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