Phi, a social platform based on ENS, completed a seed round financing of US $2 million

On February 17, Phi, a social platform based on ENS, announced the completion of $2 million seed round financing, with Chapter One and Delphi Digital leading the investment, Polygon Ventures participating in the investment, and Bankless co-founder Ryan Sean Adams and David Hoffman, ETH Global co-founder Kartik Talwar, Gitcoin co-founder Scott Moore participating in the investment.

Interpretation of this information:

Phi, the new social platform based on ENS, has completed its $2 million seed round financing. This is a significant milestone for Phi, and it is expected to help the platform grow in popularity and reach a wider audience. Phi is a decentralized and open-source social platform that aims to provide users with a more secure and private way to interact with others.

The platform’s use of ENS, or Ethereum Name Service, is a unique feature that sets it apart from other social media platforms. ENS is an open-source domain name registration service built on the Ethereum blockchain. It allows users to register names that can be used to identify their Ethereum wallets, smart contracts, and other resources on the network.

Phi’s use of ENS will make it easier for users to find and connect with each other on the platform. Users will be able to search for other users by name, rather than having to remember long Ethereum wallet addresses. Additionally, ENS integrates with other Ethereum applications, so users will be able to use their ENS names across the entire ecosystem.

Phi’s $2 million seed round financing was led by Chapter One and Delphi Digital, with participation from Polygon Ventures. Bankless co-founder Ryan Sean Adams and David Hoffman, ETH Global co-founder Kartik Talwar, and Gitcoin co-founder Scott Moore also participated in the investment.

These investors are some of the top names in the cryptocurrency and blockchain space. Their involvement in Phi’s seed round financing is a strong indication of their belief in the platform’s potential. Additionally, their expertise and connections in the industry will be valuable assets for Phi as it continues to grow and expand.

In summary, Phi’s completion of its $2 million seed round financing is a significant milestone for the platform. Its use of ENS makes it a unique and innovative social media platform that could have a big impact on the industry. With backing from some of the top names in the industry, Phi is well-positioned to grow and become a major player in the space.