We’re announcing today the completion of our pre-seed round for Ethos Network of $1.75m, led by... nobody. Seriously. We raised from the community, where the problem of grift, scams & fraud run deep. Ethos will solve this Web3 onchain fraud problem that we all feel today.

We raised from angel investors who spend their time in web3 onchain every day, feel this problem, and seek change in how web3 operates. 59 investors with no lead or VC participation. Intentionally. Raised exclusively by the onchain community.

We’re a team founded by ex-web2 SaaS veterans - three founding members who previously built software together for millions of users in products you probably use every day.

With decades of combined experience from YC to Sequoia backed early startups, to building new products in incubator groups for multi-billion dollar companies.. we've been here before. we're product people, first. and 0 to 1 is our specialty.

Led by @0x5f_eth who is deep in the trenches of trading crypto daily for his hedge fund, we believe that the most important part of building a crypto start up is simple: Solve real problems. So we're tackling one of the hardest crypto problems of all: onchain fraud.

Onchain fraud accounted for over $9b of damages in '22. Whether it's rug pulls, unsolicited shilling, or insider trading, fraud prevents the space from growing Fraud is the reason crypto's public perception is poor Reputation & credibility are not valued or instrumented enough

With Ethos, crypto participants have a credibility score. A quick way to determine- can I trust this person? What's their history? Are they reputable? What do people say about them? A set of peer-to-peer mechanisms in reviewing, vouching and slashing will instrument this score.

The space will hold itself more accountable through Ethos. By creating a more trusted and safe environment onchain, we will open the funnel for the next wave of onchain users-- and actually retain them.

This fundraise enables the team behind Ethos to build the first iteration of the protocol, and it's coming soon on Base. Sign-up for the waitlist to get early access to our community when it launches shortly. https://waitlist.ethos.network

Thank you to all our supporters, investors and advisors - and everyone who gave us a chance during this fundraise to hear our vision and mission.

Now, we build.