In the fast-paced world of crypto, funding rounds can make or break a project, and Grass just scored a big win. The Decentralized Physical Infrastructure Network (DePIN) platform announced it has raised $10 million in a bridging round, with heavy hitters Polychain Capital and Tribe Capital leading the charge. This comes hot on the heels of their Series A in September 2024, showing serious momentum for this Solana-based innovator.
For those new to the term, DePIN stands for Decentralized Physical Infrastructure Networks—essentially, projects that use blockchain to crowdsource real-world resources like bandwidth or storage. Grass fits right in by letting users sell their unused internet bandwidth to companies training AI models. It's a clever way to turn something idle into passive income, all rewarded in $GRASS tokens.
The funding details? While the exact terms weren't spilled, it's mostly through sales of the $GRASS token, probably with some vesting periods to keep things stable. Polychain, known for backing giants like Avalanche and Internet Computer, brings serious cred. Tribe Capital, with $1.8 billion under management, has skin in the game with investments in Berachain and Kraken. Together, they're betting big on Grass's vision.
Grass launched in October 2024 as a layer-2 network on Solana, making it efficient and scalable. Users simply install a browser extension or app, connect their device as a node, and start earning points that convert to tokens. As of now, $GRASS boasts a market cap over $200 million and trades on big exchanges like Bybit, Kraken, and Bitget—impressive for a project that's barely a year old.
What's next? According to Grass's own announcement on X, the cash will supercharge growth, beef up infrastructure, and push toward an "internet-scale web crawl." That means expanding their network to handle massive data demands for AI, potentially disrupting how we think about bandwidth in the web3 era.
This raise isn't Grass's first rodeo. They kicked off with a $3.5 million seed round, followed by an undisclosed Series A led by Hack VC. Now, with this bridge, they're bridging (pun intended) to even bigger things. If you're into meme tokens or utility plays in crypto, keep an eye on $GRASS—it blends real-world utility with tokenomics that could go viral.
For more details, check out the full story on BSC News. As always, this is for info only—do your own research before diving in.