Hello readers! Recently, I've come across a fascinating project that has really caught my attention and made me eager to dive deeper into its analysis and understanding—it's called Dill Network.
Dill Network Overview
Dill is a decentralized, permissionless proof-of-stake (PoS) network that accommodates millions of validators. It enables staking and re-staking of Bitcoin (BTC) to participate in the PoS network's consensus, further enhancing the network's security. You can find more information about it here: https://www.dill.xyz/docs/Introduction/Overview.
Now, let’s dive deeper into Dill and the accomplishments of their team.
1. Funding Round
Before launching the private testnet, Dill successfully secured pre-seed funding from founders. This funding round was led by Find Satoshi Ventures, which is the investment division of FSL, and included participation from Modular Capital, angels associated with LayerZero, TN, co-founder of Pendle, Victor, co-founder of Manta, Santiago R Santos, Saku, co-founder of Matr1x, and several other prominent investors. This financial backing represents a significant step forward in Dill’s goal to create the first sharding-oriented, highly scalable data availability network, advancing the development of the ecosystem.
However, it’s worth mentioning that this funding round hasn’t been disclosed. This has sparked interest in the crypto community and piqued curiosity about Dill. Personally, I find myself paying more attention to Dill now, even though I've previously been involved with the Dill network.
2. Dill Private Testnet Completed
One of Dill's closed-loop testing networks has concluded, garnering significant interest from the community regarding the project. I also appreciate how Dill shared this news by combining the private testnet with the announcement of their funding round.
Since it started, more than 50,000 individuals have become part of the Incentivized Network initiative. Currently, there are 1,890 Light Validators and 48 Full Validators. This achievement reflects Dill's dedication and effort. I truly value this.
A total of 849 people who effectively operated a node and participated in the Andes testnet have been chosen for phase 1.
Additionally, I was really impressed by the Dill network dashboard. It’s straightforward and clearly displays all the information about the network and the node operators.
3. Quality partnership
Having reliable and high-quality partners is crucial for the success of incubation projects, and I've noticed that Dill Network has achieved this. Dill Network's partners include Manta Network, GravityChain, IoTeX, and there may be even more in the future.
4. Now! incentivized testnet - Alps
Now!, following the success of the private testnet event, Dill has officially launched the incentivized testnet event called Alps.
A total of 849 people who participated in the private testnet will qualify for phase 1. There will be a total of 8 phases for this event. They mentioned, "Due to the gradual expansion of our network and infrastructure, only a small percentage, around 2% of applicants, will be selected. This careful selection process ensures that we can focus on enhancing our core codebase and networking tools."
There are still plenty of chances to join in on the upcoming phases. If you're interested in participating, just head over to https://app.galxe.com/quest/Dill and complete the quests for the Dill network. The community is excited to welcome you!
This event is all about running light nodes and full nodes with selected participants. You can find the installation details at this link: https://dill.xyz/docs/RunANode/Alps. The setup process is quite user-friendly and straightforward since the team has streamlined it, so I won’t go into detailed instructions here.
Make sure to keep an eye on the Dill network's Twitter/X and Discord for the latest news and updates.
5. Summary
I hope my article has provided you with a deeper understanding of the Dill network and its accomplishments. I am currently a member of the Dill network community as well. It would be great to see you again on their Discord channel. Wishing you all the best!