Penumbra, a new actor in the world of privacy protocols for the Cosmos ecosystem, has recently opened up the ability for users to confirm their eligibility for the upcoming airdrop. This move is aimed at increasing the level of user engagement and returning more rewards to its community than ever before.
Financing and Development
In November 2021, Penumbra Labs secured funding of $4.75 million in the seed round one of its series rounds on cost. The round, carried out by Dragonfly Capital with participation from multiple points including Interchain Foundation, Lemniscap, Robot Ventures, Volt Capital, Figment, Strangelove Ventures, Informal Systems and ZKValidator Finance, has allowed funding for Penumbra updates not only in hardware but also software. These updates have significantly firmed up this privacy innovation in the Cosmos Network.
Purpose of the Airdrop
The airdrop is designed to increase adoption of the protocol and furthermore entrench Penumbra within the Cosmos ecosystem. By distributing tokens to early users and supporters, Penumbra aims to incentivize participation and engagement in its privacy-centred services.
The Human Impact
A diverse selection of investors demonstrates the broad approval Penumbra has gathered, underlining its potential for innovation in the field of decentralized privacy solutions. Support from a large number of influential blockchain and capital firms not only ensures financial stability, but also suggests the seeking out of strategic partners and future prospects engaged in
While Penumbra continues to build its private services, the crypto community is keeping a close eye on how these innovations will boost the local security and function better for more people within the overall Cosmos ecosystem.
