2024-12-3 12:32 |
Dai Lo is excited to welcome Fractal, a multi-layer network, to its ecosystem, heralding a new era for blockchain technology and privacy information.
Dai Lo announced the successful acquisition of Fractal Network, a strategic move that will allow Dai Lo to harness Fractal’s groundbreaking ZK technology. The news comes after months of continued discussion between Dai Lo and Fractal.
The decision to acquire Fractal began earlier this year when Dai Lo embarked on a quest to find a groundbreaking project with promising potential to expand its ecosystem. After months of searching, Fractal demonstrated the capacity to operate as an independent L1 or L2 platform. According to the Dai Lo team, Fractal’s greatest value lies in serving as a foundational component for broader ecosystems with privacy as its core.
Commenting on the acquisition, Gary Mitchell, Dai Lo’s unofficial leader, stated:
“Fractal should be part of every technology stack in DeFi, AI, and others on every chain possible. Privacy is a killer app and should be an option on every application on every chain. Fractal aims to be used everywhere. We believe that this project could achieve a $1 billion market cap or more. Our mission is to realize that potential and build a future where privacy is prioritized and celebrated.” He added, “Fractal should be part of every technology stack in DeFi, AI, and others on every chain possible. Privacy is a killer app and should be an option on every application on every chain. Fractal aims to be used everywhere.”
Led by Gary Mitchel and Yeolin Han, the Dai Lo team will undertake to invigorate the Fractal community in the next few weeks. The team aims to rebuild trust, improve transparency, and bring onboard new supporters to grow the project, improve scalability and reliability, and make the platform user-friendly overall. Particularly, the team seeks to return to Fractal’s roots and seal its position as a privacy-focused project.
Through the acquisition, Dai Lo will now have access to Fractal’s robust technology portfolio, intellectual property token reserves, and the growing community. By integrating this asset, Dai Lo will take on and expand the exceptional work begun by Fractal’s founders to revitalize its vision. Since its launch, Fractal has been committed to applying ZK to create a secure on-chain environment for all Web3. This allows the project to power secured DeFi, on-chain identity, and asset tokenization.
While making the announcement, Dai Lo expressed its gratitude to all who contributed to the acquisition process. Specifically, Dai Lo is thankful for Sam Harrison, who played a significant role in finalizing the deal.
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