Lumoz, formerly known as Opside, Secures $6 Million Valuation in Series A Funding

2024/04/09 14:59

Lumoz, previously known as Opside, has recently completed a Series A pre-funding round, securing an impressive $6 million valuation. The project, listed by the Innovation Fund of the European Union, is set to enter a new phase of development with the approval of the Lumoz token in August. This milestone marks a significant step forward for blockchain infrastructures in Europe.

The funding round, which saw participation from investors such as OKX Ventures, HashKey Capital, KuCoin Ventures, and others, demonstrates strong support for Lumoz's vision. This vision includes addressing the scalability challenges facing blockchain networks by integrating zk-rollups into the system effectively.

OKX Ventures Invests in Lumoz, an Innovative Modular Compute Layer and ZK-RaaS Platform@LumozOrg https://t.co/CtOwK7Fs2n pic.twitter.com/mDe9cfhXPa
— OKX Ventures (@OKX_Ventures) April 8, 2024

Lumoz's strategic move towards zk-rollups has been instrumental in realizing its vision. The company aims to simplify the launch of zk-rollups for developers with its zk-rollup as a service (ZK-RaaS) platform. This innovative service aims to reduce the entry barrier for developers looking to utilize this technology, making it easier and more accessible.

With the recent funding, Lumoz plans to expand its team, particularly in engineering, marketing, and business development. The company's focus on growing its compute layer service and the upcoming mainnet launch in July are key milestones that will enhance its presence in the blockchain infrastructure space.

The Lumoz token launch, scheduled for August, is highly anticipated following the Points Program that was in place last month. This program allowed users to earn points that could be spent on future tokens, paving the way for a fully tokenized ecosystem.

In conclusion, Lumoz's recent fundraising success and ambitious growth plans are indicative of its commitment to developing efficient and application-oriented blockchain technologies. With a focus on innovation and expansion, Lumoz is poised to play a crucial role in shaping the future of the blockchain ecosystem.

More news about lumoz

Dec 28, 2023 2:18 pm
Lumoz to Launch Fair-L2 LaunchBase for ZK-L2 Projects
According to Foresight News, Lumoz, the ZK-RaaS platform, is set to initiate Fair-L2 LaunchBase to support more fair launches of high-quality ZK-L2 projects. Over 20 projects have already submitted applications for Fair-L2, including BTC L2, gaming platform chains, DePIN chains, and social application chains. Foresight News notes that ZKFair has already conducted a fair token launch, utilizing Polygon ZK and Celestial DA architecture, with technical support provided by Lumoz.
Dec 06, 2023 9:56 pm
Lumoz’s ZKFair to launch first community-owned Layer 2 solution
The current zero-knowledge (ZK) landscape, while innovative, faces significant challenges, as highlighted in a recent blog post by ZKFair, a … Continued source: https://finbold.com/lumozs-zkfair-to-launch-first-community-owned-layer-2-solution/
Nov 22, 2023 12:10 pm
Polygon and Lumoz reach strategic cooperation, and Lumoz becomes the official Rollup technology provider
Polygon announced a strategic cooperation with ZK-RaaS platform Lumoz (formerly Opside), and Lumoz became the official technology provider of Polygon CDK. Lumoz COO Alvaro said that this cooperation will help the popularization and implementation of ZK-Rollup technology represented by Polygon CDK, and become a strong competitor of Op Stack. Compared with Optimistic Rollup, ZK-Rollup has obvious advantages in terms of operating costs, security, and withdrawal speed. According to rollupinsight.io data, ZK-Rollup, represented by zkSync, Scroll and Polygon zkEVM, far exceeds Optimism and Arbitrum in terms of profit margin. Lumoz is a ZK-RaaS platform that supports code-free generation of ZK-Rollup application chains. Lumoz uses the ZK-PoW mining mechanism to provide ZKP computing power for ZK-Rollup through a decentralized prover network.
Nov 21, 2023 2:36 pm
Ola Partners with Lumoz to Integrate Privacy-Focused ZK-Rollup Solution
According to Foresight News, Ola, a privacy-focused ZKVM-based rollup scalability solution, has entered into a strategic partnership with Lumoz, a ZK-RaaS (ZK-Rollup as a Service) platform. Ola will be integrated into Lumoz's ZK-Rollup LaunchBase, allowing developers to generate privacy-enabled ZK-Rollups without coding. Ola offers programmable privacy and high scalability, supporting developers in creating both privacy and non-privacy DApps based on their needs. Ola plans to launch its Public DevTestnet by the end of this year and a fully functional Permissionless Testnet in the first quarter of next year. At that time, it will be integrated into Lumoz as the first privacy-enabled Rollup. Ola has already opened applications for its DevTestnet whitelist. Lumoz currently supports ZK-Rollup types such as zkSync, Scroll, and Polygon zkEVM. There are more than a dozen different types of ZK-Rollups running stably on the Lumoz testnet, with a decentralized validator network providing ZKP computing power through CPU/GPU mining. In the future, Lumoz plans to support more types of ZK-Rollups, including Ola, Linea, Taiko, and StarkNet.
Nov 21, 2023 2:15 pm
ZK-RaaS platform Lumoz reaches strategic cooperation with OLA
ZK-RaaS platform Lumoz announced that it has reached a strategic cooperation with privacy rollup solution provider OLA. OLA is integrated into Lumoz’s ZK-Rollup LaunchBase, allowing developers to generate ZK-Rollups that support privacy attributes without code. According to previous news, ZK-RaaS platform Lumoz (formerly Opside) announced at the RaaS Day co-hosted with Polygon that it will launch StableNet in December. StableNet is zkEVM with Ethereum as L1. Its innovations include: 1. Use USDC stable currency as the native token, and transaction gas fees are priced by USDC; 2. The first mainnet zkEVM project based on Polygon CDK and Celestia; 3. Supports atomic cross-Rollup communication, which means that addresses on StableNet can directly call contracts on Ethereum; 4. Introducing the decentralized prover network, ZKP computing power is more stable and reliable; 5. Optimized Gas economic model, all Gas fee income generated on StableNet will be fed back to the community, including DApp developers, LP providers and ordinary users.
Nov 16, 2023 8:55 pm
Lumoz announces December launch of ZK-Rollup based on Polygon CDK and Celestia
ZK-RaaS platform Lumoz (formerly Opside) announced today at RaaS Day co-hosted with Polygon that it will launch StableNet in December. StableNet is zkEVM with Ethereum as L1. Its innovations include: 1. Use USDC stable currency as the native token, and transaction gas fees are priced by USDC; 2. The first mainnet zkEVM project based on Polygon CDK and Celestia; 3. Supports atomic cross-Rollup communication, which means that addresses on StableNet can directly call contracts on Ethereum; 4. Introducing the decentralized prover network, ZKP computing power is more stable and reliable; 5. Optimized Gas economic model, all Gas fee income generated on StableNet will be fed back to the community, including DApp developers, LP providers and ordinary users. Lumoz is Polygon’s officially certified CDK technology provider. Lumoz has carried out in-depth technical transformation and customizable upgrades for Polygon CDK. At the same time, Lumoz also supports zkSync, Scroll and other types of zkEVM.
Nov 14, 2023 2:02 pm
Celestia confirms attendance at RaaS Day event co-hosted by Lumoz and Polygon
Diego Ferrer, head of solution engineering at Celestia, confirmed to attend the RaaS Day event co-sponsored by Lumoz and Polygon and deliver a keynote speech. In addition, Mary, head of Celestia's business growth, will attend a roundtable discussion titled "Comparison of Rollup Solutions and Prospects for Future Development." The RaaS Day event jointly hosted by Lumoz (formerly Opside) and Polygon will be held during Devconnect Istanbul, with the specific time being 14:00-19:00 on November 16. The venue of this event is the Grand Hyatt Istanbul. During the event, the competitive landscape of RaaS in the multi-rollup era, the comparison of differentiated rollup solutions, and the modules of RaaS will be discussed through keynote speeches, round table discussions, offline exchanges and other links. It aims to better explore the development trends of RaaS and better jointly build industry ecology and cooperation.
Nov 06, 2023 4:29 pm
Polygon head of growth Sanket confirms attendance at RaaS Day event hosted by Lumoz
Sanket, head of growth at Polygon, confirmed to attend the RaaS Day event hosted by Lumoz (formerly Opside). In addition to delivering a keynote speech titled "Polygon CDK", he will also participate in a roundtable discussion. The RaaS Day event jointly hosted by Lumoz (formerly Opside) and Polygon will be held during Devconnect Istanbul. The event venue is the Grand Hyatt Istanbul, and it is expected that nearly a thousand people will attend the event. During the event, guests attending the conference will discuss the competitive landscape of RaaS in the multi-Rollup era, comparison of differentiated Rollup solutions, the modular composition of RaaS, and the development of the Rollup ecosystem through keynote speeches, round-table discussions, offline exchanges and other links. It aims to better explore the development trends of RaaS and thereby better build industry ecology and cooperation. Note: Click on the original link to register.
Nov 01, 2023 4:17 pm
The ReadON Loki test network was temporarily suspended for three hours due to Lumoz service outage and has now been restored.
The decentralized content distribution platform ReadON was affected by the service interruption of Lumoz (Opside). All functions related to the Loki test network were suspended for three hours. Now Lumoz has been restored and all functions based on Loki have been restored.
Oct 10, 2023 2:32 pm
Opside announces brand upgrade to Lumoz
Odaily Planet Daily News The decentralized ZK-RaaS platform Opside officially announced the brand upgrade to Lumoz, starting a new journey for ZK-RaaS & Decentralized Prover Network. The new official website of the project has been updated to lumoz.org. This comprehensive brand upgrade aims to enable global users to better understand and apply ZK-Rollup technology, so that application chains based on zkEVM can be implemented on a large scale. It is reported that Lumoz was born in 2022 and launched on the test network in May 2023. It has always been adhering to the mission of making it easier for users to understand and use ZK-Rollup technology. Through its no-coding ZK-Rollup Launchbase, any user can generate a customized zkEVM application chain without coding. Currently supported zkEVM types include Polygon zkEVM and zkSync, and Q4 is expected to support Scroll, StarkNet, etc. At the same time, Lumoz can provide underlying computing power for general ZKP calculations through the Decentralized Prover Network. So far, the Lumoz test network has been running smoothly for 5 months, with more than 200,000 independent users, and 15+ project parties have generated personalized zkEVM application chains on its platform.