(Rejected) Defi Social Network Farcaster Raised $30M in Funding Led by A16z

Decentralized social network Farcaster raised $30 million in funding led by a16z.

As a decentralized protocol dedicated to building social networks, Farcaster provides developers with a trusted, neutral protocol that allows users to directly build relationships with their audiences and freely build new clients without permission.

Farcaster is a Bitcoin-Monero atomic swap project funded and supported by the Monero community.

Monero is a decentralized cryptocurrency, meaning it is secure digital cash operated by a network of users.

Monero uses ring signatures, ring confidential transactions, and stealth addresses to obfuscate the origins, amounts, and destinations of all transactions. Monero provides all the benefits of a decentralized cryptocurrency, without any of the typical privacy concessions.

Other investors include Standard Crypto, Elad Gil, 1confirmation, Scalar Capital, First Round Capital, Volt Capital, A Capital, Todd and Rahul's Angel Fund, Coinbase Ventures, Mischief, Ansa Capital, Haystack, Ribbit Capital, Chapter One, Multicoin Capital, Offline Ventures, Archetype, Canonical Crypto, Proof Group, Floodgate, Balaji Srinivsasan, 6529, Ray Tonsing, etc.

The company said that it has released the initial version of the protocol and client and is actively promoting the development of Farcaster v2, which is expected to launch Farcaster v2 later this year.

Stani Kulechov, the founder of Decentralized Finance (DeFi) lending protocol, Aave has spearheaded the emergence of Lens Protocol, an ecosystem that seeks to boost a permissionless, composable, and decentralized social graph that makes building a Web3 social platform easy.