Wire Network has secured a Token Subscription Agreement with GEM Digital Limited for up to US$50 million in post-listing token purchases. Wire is building a decentralized computing and transaction platform. The capital will support its Universal Transaction Layer and cross-network development.
Funding terms
The facility provides for purchases over 36 months following listing. Access to the capital depends on trading-volume and pricing requirements. It is a conditional commitment rather than an upfront investment.
Company context
Wire is led by co-founder and CEO Ken DiCross and co-founder and CTO Kyle Dolan. The company says it has spent the last six years building the platform. Its platform brings together compute, digital assets, and access through familiar wallets.
Mainnet plans
Wire’s planned mainnet launch will initially connect Ethereum and Solana. The network will use smart contracts, liquid-staking infrastructure, and integrated liquidity pools. Underlying assets will remain on their native networks.
Representations of those assets will be used for execution on Wire. The WIRE token will sit at the center of cross-network routes. Wire plans to connect additional blockchain networks and support developers building across them.