Post a DoS attack after its US$600K IDO crash, Grape Protocol gets US$1.2M seed funding
Grape Protocol: IDO to Seed Funding
DAO infrastructure offering Grape Protocol has successfully acquired US$1.2 million in seed funding. Built on Solana, Grape Protocol actually led to Solana’s outage for 17 hours the previous week. The soaring demand for Solana’s debuting token sale led the IDO (initial DEX offering) to sustain a denial-of-service (DoS) attack.
Grape Protocol’s funding round is the courtesy of the following:
- Multicoin Capital
- SkyVision Capital
- Definitive Capital
- LongHash Ventures
- Double Peak Group
- Solana Capital
Grape Protocol’s IDO took place on the crowdfunding platform, Raydium AcceleRaytor, and raised US$600,000. Prior to the said attack, blockchain attempted managing 400,000 transactions per second (TPS). Just as Grape Protocol’s IDO, its seed funding is also backed by a token sale. The objective of using the recent seed funding’s proceeds is to develop a team of ten, reports the Block Crypto. Grape Protocol now need enough human capital to satisfy demand and realize their roadmap.
About Grape Protocol
Grape Protocol is home to decentralized social networking. It allows creating, rewarding, and securing online communities via harnessing Solana’s power. Grape Network offers Dynamic Balance-Based membership tools. Its features include Grape Access, multi-coin configurations, community restoring, user and server stats, moderator-free membership adjustment, and a community-driven DAO.