February 7, 2021

Swarm secures funds for mainnet release

  • Swarm reached an important fundraising goal, completing a $6m private fundraising round.
  • The secured funds will result in Swarm version 1.0, to be released in Q2 this year. We are hiring.
  • Bitcoin Suisse supported Swarm in facilitating the private fundraiser.

Zug, Switzerland — 6 February 2021

Swarm Association is pleased to announce the successful completion of its private fundraiser that ended with the recent Swarm Live release, raising USD 6 million.

Gregor Žavcer, Operation Lead at Swarm comments: “The successful completion of the private fundraising is a crucial step forward for Swarm to secure funds for development towards our vision of making the world computer real. Swarm is by nature a collaborative effort and we greatly value our relationship with Swarm’s early supporters who enabled the development of the platform. It is together that we continue our mission of empowering digital freedom, partnering to bring our solutions closer to users and creating a positive social impact.”

Swarm has been conducting deep research for four years. This resulted in the Book of Swarm, a technical deep dive, internally nicknamed the “blueprint for web3”, introducing an incentivized storage and communication service to extend blockchains into a world computer. Such base-layer infrastructure will serve as the operating system of the serverless internet that hosts and runs dApps. The secured funds will result in Swarm version 1.0, which will be released in Q2 this year.

In spite of the overwhelming response, part of BZZ tokens allocated to fundraising are reserved for a public sale near the 1.0 release. We plan to announce the details of the public sale as soon as they are confirmed.

Swarm conducted its private fundraising together with Bitcoin Suisse, Switzerland‘s oldest and largest crypto-financial service provider, building on its extensive experience in digital asset capital markets and token sales.

Lothar Cerjak, Head of Institutional Services and Products at Bitcoin Suisse commented: “We are excited to support leading projects in the growing ecosystem and to help bring innovation to life. Swarm is one of those projects. It builds towards a strong vision of decentralized computation and storage, has its roots in the Ethereum project, and has become one of the most anticipated projects over its many years of development. I am proud that we could offer our clients this exclusive opportunity and we look forward to assisting Swarm in its exciting journey ahead.”

About Bitcoin Suisse

Founded in 2013, Bitcoin Suisse is the Swiss crypto-finance and technology pioneer and market leader. Bitcoin Suisse has helped to shape the crypto and blockchain ecosystem in Switzerland and has been a driving force in the development of the ‘Crypto Valley’ and ‘Crypto Nation Switzerland’. As a regulated Swiss financial intermediary and undergoing licensing as a Swiss and Liechtenstein bank, Bitcoin Suisse offers prime brokerage, trading, custody, lending, staking and other crypto-financial services for private and institutional clients. Bitcoin Suisse has built a team of more than 200 highly qualified experts at its locations in Zug, Copenhagen, and Liechtenstein. For more information, visit: bitcoinsuisse.com

Follow Swarm community news on X / Twitter.
Discussions about Swarm can be found on Reddit.
All tech support and other channels have moved to Discord!
Please feel free to reach out via info@ethswarm.org
Join the newsletter! .

By clicking on Subscribe you consent to usage of your given e-mail address for receiving communication and news about the Swarm project and news. Data will be controlled and processed by Swarm Foundation.