Modular blockchain project Nubit completes $8 million seed round of financing, led by Polychain Capital

Nubit is a modular blockchain infrastructure solution provider dedicated to improving the scalability of blockchain. In the early days of the project, it provided innovative data availability solutions for the Bitcoin ecosystem. Today, Nubit has integrated mainstream Layer 2 frameworks and supports multi-chain ecosystems, while also expanding applications in areas such as AI, SocialFi, and GameFi.

Nubit announced that it has successfully raised $8 million in a seed round of financing. This round of financing was led by Polychain Capital, and other institutional investors include Nomad Capital, Spartan Group, L2IV, Big Brain Holdings, GCR, Protagonist, Gate Ventures, Animoca, and Mask Network. So far, Nubit's total financing has reached $12 million.

Polychain Capital partner (GP) Luke Pearson said: "I have worked with the Nubit team and its founder Professor Feng Yu for many years and am very familiar with their achievements in zero-knowledge proofs, security and blockchain technology. Therefore, I have great confidence in them and believe that Nubit's innovative data availability solutions can unlock many applications in various fields."

Nubit was founded by UC Santa Barbara (UCSB) computer science professor Feng Yu, who brought his decade-long research results to the project to promote the scalability of blockchain. Nubit uses Bitcoin's economic security to optimize fraud detection mechanisms, attestation security, and accessibility of zero-knowledge technology, and achieves scalability through high-performance consensus algorithms and innovative data structures such as KZG-based Namespaced Merkle Tree.

As the cryptocurrency space evolves, creating a secure and scalable data availability layer is critical to driving innovation. Due to Bitcoin's reliable security, everyone wants to use Bitcoin block space to protect their own blockchain, but this is often not feasible in practice due to space constraints and high costs. Nubit provides an innovative data availability layer that ensures security and scalability by leveraging Bitcoin's economic security. This layer brings Bitcoin-level security to a variety of applications and infrastructures, effectively bridging the gap between Bitcoin-native solutions and multi-chain ecosystems.

As the leader of Bitcoin Season 2, Nubit has integrated projects such as Babylon , BounceBit , Unisat , and Merlin Chain . In addition, to address the insecure execution layer issue in the Bitcoin ecosystem, Nubit is committed to developing a programmable, modular, trustless execution layer for meta-protocols such as BRC-20 and Runes. The team's academic paper Stateless and Trustless Execution Layer for Meta-Protocols on Bitcoin lays the foundation for new possibilities in the Bitcoin ecosystem.

In addition to the Bitcoin ecosystem, Nubit has recently expanded support for all major Layer 2 frameworks, including Polygon CDK, OP Stack, Arbitrum Orbit, and Scroll, making it a universally applicable data availability solution. As Nubit expands, its strategic footprint is further expanded, focusing on unlocking new possibilities for AI/ML and on-chain gaming in a multi-chain ecosystem.

In April 2024, Nubit launched the Pre-Alpha testnet , which attracted 155,115 users, deployed 5,294 modular services, and processed 561,862 transactions. The team will launch the Alpha testnet in June, which is the final stage before the mainnet launch, which is expected to go live later this year.

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