Inco completes $5 million strategic round of financing, dedicated to on-chain privacy technology

According to Inco's official news, Inco announced the completion of a strategic round of financing of US$5 million led by a16z

In a significant development, Inco, a leading innovator in on-chain privacy technology, has completed a strategic round of financing.

As DeepChain reports, the financing initiative, which began earlier this year with a $5 million seed round, has now reached a total of $10 million. The latest round of financing was completed with an infusion of $5 million in strategic capital.

This funding round saw participation from prominent investors including a16z crypto CSX, Coinbase Ventures, and several other institutions.

In March, Inco announced the completion of its seed round of financing with a total amount of $5 million. This round of financing was led by a16z crypto CSX and saw participation from Coinbase Ventures, Maven 11, and several other institutions. The financing will be used to continue developing Inco's on-chain privacy technology and expand its product offerings.

Inco's mission is to solve the privacy problems on blockchain and enable users to perform useful operations such as salary payments and Texas Hold'em on-chain without revealing sensitive information. Inco's first product, Inco Lightning, is currently being deployed on the Base Sepolia testnet.

The company's innovative approach to privacy is set to revolutionize the way people interact with cryptocurrency and the metaverse. With its technology, users can finally enjoy the benefits of blockchain without having to compromise their privacy.

In other news, ApeCoin has announced the availability of NFT staking rewards on ApeChain. According to the official announcement, users can now proceed to the new website, apechainstake.io, to stake $APE and receive rewards.

However, it's important to note that staking on the old site will no longer generate rewards. To participate in the new program, users need to unstake $APE from the old site, cross-chain their assets to ApeChain, and re-register on the new platform. Additionally, those interested in Shadow tokens can manage their delegations through Delegate.xyz.

Moreover, Moonshot has launched a new Solana coin called Trencher (TRENCHER), which is currently valued at approximately $2.7 million. The 24-hour trading volume for TRENCHER is around $18.5 million.

Earlier this morning, Moonshot also launched Nobody Sausage (NOBODY).

MagicBlock, a Solana-based gaming company, has announced the completion of its $7.5 million seed round of financing. The financing is intended to build real-time, non-fragmented infrastructure for decentralized games and applications through Ephemeral Rollups technology native to Solana.

This round of financing was led by Lightspeed Faction, with participation from Maven11, Delphi Digital, Robot Ventures, Mechanism Capital, Equilibrium and Pivot Global. The angel investor lineup includes Solana co-founders Anatoly Yakovenko, Mert Mumtaz and Tristan Yver. a16z also participated in early investments, and the total financing amount has now reached $10.5 million.

The funds will be used to expand the engineering team, promote the development of the Solana application ecosystem, and optimize MagicBlock's real-time execution architecture.

Further, the time-weighted average holdings will be used to determine the top 220 participants who will be invited to the "Dinner with Trump" event. This is a joint initiative of TrumpMeme X and the Solana City accelerator program in Dubai.

The minimum amount of time-weighted holdings required for qualification will be announced later. Those who meet the criteria will be contacted directly by email in the coming weeks.

The participation in the "Dinner with Trump" event will be based on time-weighted holdings of the $TRUMP token, which will be calculated and registered by the FTX exchange. The time-weighted average price of the token over a certain period will be used to determine the total value of holdings.

The time period for calculating the average price will begin on April 10, 2024, 00:00 (UTC) and end on May 10, 2024, 23:59 (UTC). The average price will be calculated every day at 00:00 (UTC).

The average price for each day will be determined by calculating the simple moving average of the last 24-hour period, starting from 00:00 (UTC) of the previous day to 00:00 (UTC) of the current day. For example, to calculate the average price for April 11, the price data from 00:00 (UTC) April 10 to 00:00 (UTC) April 11 will be used.

The time-weighted average price will be used to calculate the time-