We are truly grateful and happy to get awesome web3 leaders to be excited about us and support us for the building the world's first decentralized notification protocol!
MUMBAI, India (PRWEB) December 08, 2020
Ethereum Push Notification Service (EPNS), a blockchain startup which is building the world’s first decentralized notification protocol, has announced the successful close of their seed round at a valuation of $5 Million USD.
The round saw backing from notable web3 leaders including Balaji Srinivasan (Fmr CTO of Coinbase, General Partner at a16z. Cofounder of Earn, Counsyl, Teleport), Kenneth Ng (Ethereum Foundation), Scott Moore (Co-founder, Gitcoin), Mariano Conti (Fmr Head of Smart Contracts, MakerDAO), Anthony Sassano (EthHub / TheDailyGwei), DeFiDad (COO, Zapper.fi), Ravindra Kumar (Frontier Wallet), Preethi Kasireddy (Fmr Partner at a16z), Andrew Chen (Prescient Capital), Rezo & Evgeny Zandman (BR Capital), Luka Sucic, Ben Lakeoff, Auryn Macmillan (Gnosis), Danny Christ (Moonwhale), Ganeshram Gunalan, Thomas Kaseng Ao and Kathik Garg (Bridge Capital LLC).
Popular VCs also joined the round including TheLao, MetaCartel, Fourth Revolution Capital, BlockRock Capital, LD Capital, ProofSystems and Moonwhale Ventures.
EPNS was previously bootstrapped and this was their seed round. 15% of tokens through private token agreement by a mechanism based on SAFT were given out for the upcoming, yet to be launched governance token of theirs called $PUSH.
“Notifications are a basic necessity for dApps and smart contracts and should not be an option for a popular smart contract, but a communication layer that should be accessible to everyone. This is the crucial missing piece of web3 infrastructure that will enable adoption. Innovation drives enthusiasts but adoption needs user ease and engagement. We are truly grateful and happy to have the funding that will go into building the world's first decentralized notification protocol!”
— Harsh Rajat, Founder, Ethereum Push Notification Service
EPNS secured a position as a finalist of the prestigious Gitcoin’s Kernel Fellowship (8 week virtual accelerator for blockchain rising stars) and has had an impressive record of achievements including the top 30 projects for IDEO Product Validation Day and EthGlobal HackMoney. It has also won grants from AAVE and Matic Network.
“While blockchain keeps on delivering innovations and taking leaps in technology, it still is unable to notify a user when their loan is liquidated, or a NFT is available, or a DAO governance proposal is put up, or a gaming auction happens or even when your blockchain domain expires. Are you foreclosed by your bank without them notifying you... No, but in blockchain, that happens oh so often, it’s a thing people are scared of constantly.”
— Richa Joshi, Co-Founder, Ethereum Push Notification Service
The project aims to become the web3 standard for notifications and even awards crypto to users, who have to opt-in to enable receiving notifications from the services they are interested in. It also enables splitting the fees generated among all crypto wallets/infrastructure that builds on top of it using decentralized governance and claims to have partially solved the monetization issue plaguing the wallets, without sacrificing the service interest or users centric approach of the protocol.
About Harsh Rajat
Harsh Rajat has a Masters in Computer Science, 11 years entrepreneurial experience in various spectrum of tech; including architecting, development and design in different tech fields (Mobile, Web Services, SaaS, Blockchain).
About Richa Joshi
Richa Joshi has 12 years of techno-functional experience in product management and development across multiple facets of the product life cycle. She previously worked with Deloitte contributing and leading teams before foraying into the blockchain space.
About Ethereum Push Notification Service (EPNS)
EPNS is a decentralized notification protocol that enables users (wallet addresses) to receive notifications. Using the protocol, any dApp, service or smart contract can send notifications to users in a platform agnostic fashion (mobile, tablet, web, user wallets, etc). The DeFi aspect of the protocol (Staking from service -> Lending to AAVE -> Interest to users) ensures that the user receives notifications and also earns from them.
EPNS has been featured in Official Ethereum Blog, CoinTelegraph, EthHub, Gitcoin Kernel Fellowship, IDEO Product Validation Day, DefiDad, EDCON, 2.5 The Talk Show (ETHBerlin), Ethereum Enterprise Alliance Asia Pacific 2020, YourStory among others.