Qtum Secures $15.6 Million in ICO Funding on March 16, 2017

According to industry sources, Web3Labs raised $2 million in funding on December 1, 2023. The round was backed by Foresight Ventures, Waterdrip Capital, Qtum, Cipholio Ventures, NexGen Venture, and VCB Technology. Following this investment, Web3Labs' total cumulative funding has reached $2 million.Web3Labs is an integrated portal platform focused on Web3.0 entrepreneurship. The project aligns with policy initiatives from the Hong Kong Special Administrative Region government, supporting global Web3 enterprises in establishing operations in Hong Kong through services such as on-the-ground implementation, investment acceleration, technology collaboration, and compliance assistance. Web3Labs has already established physical incubators in Hong Kong, Singapore, South Korea, Hangzhou, and Beijing, demonstrating strong growth momentum.As the global Web3 industry continues to expand rapidly, Web3Labs' service model is well-timed. This funding round not only reflects investor confidence in Web3Labs' business model but also underscores robust market demand for platforms supporting Web3 startups. Serving as a bridge between traditional markets and Web3 innovation, Web3Labs is poised to play a significant role in advancing the development of the Web3 sector and fostering regional economic cooperation.

According to industry sources, Qtum received $1 million in funding on January 9, 2017. Investors in this round included Bo Shen, Anthony Di Iorio, Xiaolai Li, and Chen Weixing. Following this transaction, Qtum’s total cumulative funding reached $16.6 million.Qtum is a smart contract platform utilizing a Proof-of-Stake (PoS) consensus mechanism to validate transaction blocks and provide security assurances. The project is built on the Bitcoin Core architecture to ensure network security and stability and operates using the UTXO model. By integrating the Ethereum Virtual Machine (EVM), Qtum enables the execution of Turing-complete code required for smart contracts and decentralized applications (dApps). The platform also features a middleware component known as the Account Abstraction Layer (AAL), which ensures compatibility between the UTXO set and the smart contract execution layer.From a development perspective, Qtum raised $15.6 million via an ICO in March 2017 and officially launched its mainnet on September 13 of the same year. According to its latest roadmap, Qtum is scheduled for a halving event on November 30, 2025, at which time the block reward will decrease from 0.5 QTUM to 0.25 QTUM. Meanwhile, Qtum’s annual inflation rate has been reduced from its initial 1% to the current 0.5%, reflecting ongoing optimization of its token economic model.