• Agoric, a Cosmos-based smart contract platform, raises $32 million and launches its mainnet

  • After more than three years of development, Agoric, a JavaScript-based smart contract platform built on the Cosmos SDK and using the Tendermint proof-of-stake (PoS) mechanism, has raised $32 million in a private token sale and launched its mainnet.

    Agoric was founded in 2018 to assist JavaScript developers — the world’s largest developer community, with nearly 14 million members — in the creation of decentralized applications, or dapps. JavaScript is a programming language similar to Ethereum’s Solidity and Solana’s Rust.

    “The crypto market has overlooked the need to engage with non-crypto-native audiences in order to onboard the next wave of DeFi entrepreneurs,” said Dean Tribble, co-founder and CEO of Agoric. “Agoric’s goal is to bridge this gap.”

    Tribble is a former Microsoft principal architect who co-founded Agoric with chief scientist Mark S. Miller, a Google research scientist who published Agoric Open Systems in 1988.

    The platform hopes to build and grow its developer community now that the Agoric mainnet has been launched and new capital has been raised. Agoric, according to Tribble, will reward early developers with its native Build (BLD) token.

    The next stage of Agoric’s mainnet will see the launch of its native automated market maker (AMM) to allow users to swap tokens, as well as a native USD-pegged stablecoin (RUN) for paying network fees.

    Agoric currently employs 22 people, and Tribble intends to hire ten more people in various roles to help the platform grow, he said.

    Polychain and Naval Ravikant are among the notable investors in Agoric. Several investors participated in the private token sale round, including Placeholder, NGC Ventures, Spartan Group, Compound VC, Acrew Capital, Figment, and Chorus. One.

    The round brings Agoric’s total funding to $38 million to date. It previously raised $6 million in two rounds of funding. Agoric, according to Tribble, has no plans to raise additional funds in the near future.

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