CandleFocus ORE’s developer hopes their seed round will reverse the currency’s fortunes
2024-09-13
Author: Content Editor
Regolith Labs, a software company that emerged from the ORE project, has raised $3 million in seed funding. The funding round was led by Foundation Capital and included participation from other investors. Regolith plans to expand its experimental proof-of-work currency and develop a proof-of-work token distribution platform. The company aims to address the congestion issues experienced by the Solana-based currency ORE, which it developed during a hackathon. ORE's price recently experienced a significant decline, prompting Regolith to focus on building a mobile wallet with ORE mining capabilities. The company also plans to hire additional developers and explore options for deepening ORE's liquidity.
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