Blockchain

Kampela Secures Polkadot Network Investment, Becomes First Fully DAO-Funded Hardware Wallet

on

    More in Blockchain:

    Kuopio, Finland, September 12th, 2024, Chainwire

    Kampela, an innovative hardware startup, has successfully secured funding through a Decentralized Autonomous Organization (DAO) on the Polkadot network, marking a significant milestone as the first hardware project to be fully backed by a DAO in the Polkadot ecosystem. This achievement demonstrates the power of decentralized governance in supporting tangible technological innovations and opens new possibilities for hardware development in the blockchain space.

    Kampela’s device leverages NFC technology and operates without the need for wired charging or a battery, showcasing a novel approach to secure, user-centric hardware wallets. The company’s innovative strategy consolidates both the design and production processes within a single integrated platform, enabling the delivery of highly differentiated solutions to the market.

    Key Highlights:

    – Funding secured through Polkadot Referenda #62, #370, and #886, totalling approximately 253,000 DOTs (around $1 million USD at current DOT price)

    – Transparent, community-driven decision-making process

    – Establishes a new model for supporting hardware innovation in the blockchain industry

    – Battery-free operation powered exclusively by NFC during active use

    – Secure NFC-only connectivity, eliminating vulnerable USB interfaces

    Kirill, ex-CISO of Parity and Kampela’s Co-Founder, stated, “Not only is Kampela one of the very few fully open hardware wallets on the markets (you can get everything, up to the precise machining instructions for the casing, from our GitHub), but the project is also a brilliant example of the power of DAOs in the new, blockchain-enabled economy: the project was funded via the Polkadot Treasury (one of the biggest DAOs in the world right now), and it is thanks to this funding that our designs are so uncompromisingly open, free, and democratic.”

    The successful funding of Kampela through a DAO on the Polkadot network showcases how community-driven funding can fuel advancements in secure, user-centric devices. This achievement is expected to attract attention from blockchain enthusiasts, hardware innovators, investors interested in decentralized funding models, and Polkadot community members and stakeholders.

    Kampela’s hardware design features several enhanced security measures, including battery-free operation and secure NFC-only connectivity. The device remains completely powered down when not in use, deterring physical access or tampering, and its NFC-only communication provides an additional security layer compared to traditional USB interfaces.

    With six hardware revisions conducted and 54 components in its design, Kampela represents a significant leap forward in blockchain hardware innovation. As the first fully DAO-funded hardware project in the Polkadot ecosystem, Kampela sets a new precedent for how hardware startups can leverage decentralized funding and governance to bring cutting-edge products to market.

    For more information about Kampela and its innovative hardware wallet, readers can visit https://www.kampe.la/ or https://x.com/kampela_signer. 

    About Kampela

    Kampela, a Finnish startup, is revolutionizing secure transaction management with its innovative NFC-powered hardware device. Operating without Bluetooth, USB, or batteries, it features an e-ink display and open-source design. Tailored for blockchain applications and backed by the Web3 Foundation and Polkadot Treasury, Kampela offers a sustainable, secure solution for digital interactions in decentralized systems.

    Media Contact:

    Viktoria

    CMO [Telegram: @vikrpc ]

    Contact

    CMO
    Viktoria
    Kampela
    vv.repich@gmail.com

    PostAd_coinrule_banner728x90

    Leave a Comment

    Your email address will not be published. Required fields are marked *

    *

    Fundbox Secures Warehouse Capacity from Cross River and Waterfall Asset Management

    2024-09-17T15:32:44Z

    SAN FRANCISCO, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Fundbox, a leading embedded capital platform for SMBs, announces a new credit facility with Cross River, a technology infrastructure provider that offers embedded financial solutions, and Waterfall Asset Management, a global alternative investment advisor. The agreement brings Fundbox’s total annual origination capacity to over $2B, including existing capacity.

    The financing facilities will support Fundbox’s mission to empower the SMB economy by meeting the working capital needs of small businesses, primarily through embedded experiences in the tools they use every day. Fundbox’s cross-platform data sharing and cutting-edge underwriting technology enable SMB platforms to offer capital to their customers right within their products. The backing of Cross River and Waterfall will further enable Fundbox to develop innovative products to help platform partners deliver the funding their small business customers need.

    “Small businesses need capital more than ever before. The number of US small businesses grew 3x the rate of the US consumer population in the last decade, while bank funding for SMBs has fallen 15% year-over-year,” said Renuka Nayani, Fundbox CFO. “Credit capacity from Cross River and Waterfall help ensure we are well-capitalized to meet this need. We are thrilled to work with these established institutions to help close the trillion-dollar gap in small business funding.”

    “Fundbox has steadfastly supported America’s small businesses while delivering through-the-cycle performance to its investors. We are proud to back the company’s next stage of growth with this credit facility,” said Drew Friedberg, Director of Principal Finance at Cross River. “This alliance furthers our mission to empower fintech companies and small businesses with access to credit.”

    "Fundbox has demonstrated exceptional commitment to enhancing the financial landscape for small businesses. We are excited to support their continued growth and innovation,” said Nate Huebscher, Director at Waterfall. “This agreement aligns with our dedication to supporting dynamic lending solutions and fostering opportunities for small businesses to thrive.”

    About Fundbox

    Fundbox is the pioneer of embedded working capital solutions for SMBs, leading the charge in best-in-class embedded finance offerings since 2015. Fundbox empowers the small business economy by offering fast, simple access to working capital through the digital tools businesses already use. Fundbox has partnered with leading SMB platforms to help over 125,000 customers unlock growth with fast, simple access to over $5B of capital.

    For press inquiries, please contact pr@fundbox.com.

    About Cross River Bank

    Cross River provides technology infrastructure powering the future of financial services. Leveraging its proprietary real-time banking core, Cross River delivers innovative and scalable embedded payments, cards, and lending solutions to millions of consumers and businesses. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Leading the industry, Cross River is reshaping global finance and financial inclusion. Member FDIC. Find out more at www.crossriver.com.


    GlobeNewsWire News

    Recent Comments