Sophon, an entertainment-focused hyperchain on zkSync, raises $60M

Summary:
• The capital raise came through a node sale, and Sophon is to be tailored for any high throughput applications such AI and gaming applications.

Less than a week since the beginning of their node sale, Sophon, the entertainment-focused zkSync Hyperchain, has successfully raised approximately $60 million dollars.

The blockchain leverages the Hyperchain modular blockchain architecture spearheaded by Matter Labs, the team behind zkSync, the zk-rollup pioneer in the Ethereum Layer 2 space.. 

The Sophon node sale, offering a total of 200,000 nodes for purchase structured in multiple tiers quickly reached over $60 million in wETH. The sum comes in addition to a previously announced $10M funding round led by Paper Ventures & Maven 11, with participation from Spartan, SevenX, OKX Ventures. Sophon is expected to launch as an L2 rollup validium in Q3 2024, alongside the zkSync ZK Stack toolkit.

So far 121’000 nodes have been purchased; obviously, that does not mean there will be 121’000 validators on Sophon. Buyers are purchasing ERC-721 tokens, which will allow them to:

– Earn Sophon tokens – 20% of the total token supply will be emitted to node license holders over the first 36 months after Sophon mainnet launches

– Participate in the validation of the Sophon network – When Sophon launches as an L2 validium rollup using the zkSync codebase, there will be a single centralised sequencer (as is the case in the L2 space currently). Node license holders will be able to delegate their licenses to the node operator and earn their share of network fees.

These holders will also be able to participate in the functioning of Sophon, for instance by indexing the chain or by running a light node with the DA layer Sophon elects to use. In the future, if and when the Matter Labs team will decentralise their consensus, node licenses will be required to operate the network – whether in a PoA or PoS setup.

So no, Sophon doesn’t need 200k nodes to operate, and users won’t need to actively run a node; they can simply delegate and reap the rewards for it. Furthermore, the node licenses that are unsold and unused when the sale ends won’t come into circulation and will be burned.

The $SOPH token is intended to be widely distributed from the very beginning in a unique airdrop campaign. This campaign will enable users to stake assets to receive allocations of $SOPH. The first currently known staking asset is $BEAM, the native token of the Beam network. The second token is $ZENT, from Zentry. The Sophon team will reveal mode assets in the coming weeks with additional details regarding the distribution will be disclosed in the future.

Sophon is co-founded by several well-known semi-anonymous builders, including Sebastien (‘Seb’), previously Head of DeFi at zkSync; as well as Pentoshi, the legendary Crypto Twitter persona and trader and team member at Merit Circle.

The Sophon Hyperchain is dedicated to developing an entertainment platform, leveraging zkSync features like native account abstraction to build a seamless user experience that will convert new entrants to crypto.  Sophon will differentiate itself from peers via its strong strategic partnerships and ability to attract the strongest builders in the crypto x AI,, gaming and general entertainment verticals. , The  team’s track record positions it as the premier Hyperchain in the zkSync ecosystem. Moreover, there are several projects lined up to launch on the network.

“When I decided to build Sophon, choosing the ZK Stack was no brainer,” said Seb. “I know the product inside-out in comparison to other stacks on the market. It’s all about building for tomorrow rather than yesterday, and I’m convinced that in a few years, looking back at the design and infrastructure choices Matter Labs made will seem obvious. I will continue to work closely with the amazing Matter Labs team.”

About Sophon

Sophon is an entertainment-focused ecosystem built as a modular rollup leveraging zkSync’s Hyperchain technology. As a zkSync hyperchain leveraging the ZK Stack, Sophon is intended to be tailored for any high throughput applications such as artificial intelligence and gaming applications. Sophon facilitates the connection between developers and users, backed by a robust strategic collaboration with ecosystems like zkSync, Beam, Zentry, and Aethir.

Leveraging the ZK Stack, Sophon is positioned to become a leading provider in the entertainment and blockchain space, leveraging the most future-proof Ethereum L2 out there. Node operators can engage with a blockchain network designed to shape the future of entertainment and blockchain technology, ensuring a decentralized, efficient, and user-centric environment.