The Dai Lo Announces Acquisition of Fractal Network | BinanX News

[PRESS RELEASE – Denver, USA, December 2nd, 2024]

Dai Lo is pleased to announce the successful acquisition of fractalsmarking a pivotal moment for the future of blockchain technology and privacy innovation. After months of strategic discussions, the acquisition, completed for an undisclosed amount, positions The Dai Lo to leverage Fractal’s innovative ZK technology and reinvigorate its vision for the future.

The acquisition encompasses Fractal’s strong technology portfolio, token reserves, intellectual property and, most importantly, its dedicated community. By integrating these assets, The Dai Lo aims to expand on the exceptional work started by Fractal’s founders and deliver transformative solutions.

Fractal should be part of every technology stack in DeFi, AI and others on every chain possible. Privacy is a great app and should be an option on all apps on all chains. Fractal is intended to be used everywhere” – Gary Mitchell.

A strategic vision for Fractal

Earlier this year, The Dai Lo embarked on a journey to explore innovative projects in the Bitcoin, UTXO, BRC20 and Runes ecosystems. Fractal stood out as a project with immense potential, but lacked the drive to fully realize it.

While Fractal demonstrated the ability to operate as an independent Layer 1 (L1) or Layer 2 (L2) platform, its greatest value lies in serving as a fundamental component for broader ecosystems, uniting blockchain and traditional Web2 applications. With privacy at its core, Fractal’s technology is uniquely positioned to redefine the market.

“We believe this project could reach a market capitalization of $1 billion or more,” said Gary Mitchell, unofficial leader of The Dai Lo. “Our mission is to realize that potential and build a future where privacy is prioritized and celebrated.”

Meet the Dai Lo

Dai Lo is a team of transformation specialists committed to identifying undervalued projects and driving them to success.

• Gary Mitchell (@GuyGaryMitchell): Mitchell, a startup veteran with a passion for innovation, brings extensive experience in the Ethereum, Cardano and Solana ecosystems and will dedicate his full attention to Fractal.
• Yeolin Han (@_yeonglihan): A coding prodigy with experience in UTXO chains and the RGBPP space, Han’s technical acumen will be instrumental in unlocking Fractal’s full potential.
• And a team of about 10 developers with experience in AI, ZK and other related technologies.

The way forward

Revitalizing the Fractal community is the team’s top priority. Recognizing frustrations over past mismanagement, The Dai Lo is committed to rebuilding trust, improving transparency, and expanding the community with new supporters who align with the project’s vision.

At the same time, the team is overhauling the brand to return to Fractal’s roots as a privacy-focused project. With cutting-edge zero-knowledge technology in the works, the long-term goal is to make Fractal scalable, reliable, and easy to use.

“Privacy is not just a feature, it is the foundation,” said Yeolin Han. “Fractal will allow users to decide what remains public and what remains private, revolutionizing the privacy of on-chain transactions.”

Furthermore, “Fractal should be part of every technology stack in DeFi, AI and others on every possible chain. Privacy is a great app and should be an option on all apps on all chains. Fractal is intended to be used everywhere,” said Gary Mitchell.

Thanks and look to the future

With the dissolution of Discreet Labs, the organization behind Fractal, The Dai Lo expresses its gratitude to all the contributors who laid the groundwork for this acquisition. Special thanks to Sam Harrison for his instrumental role in closing the deal.

Dai Lo is excited to usher in a new era for Fractal, with ambitious plans to elevate the project to unprecedented heights. The team invites the community to join them in shaping the future of $FRA and blockchain innovation.

About the fractal network

fractal network is a multi-layer network committed to applying zero-knowledge cryptography at all levels of the Web3 stack. Our technology powers secure DeFi, asset tokenization, on-chain identity, private transactions, and more. Through applied zero-knowledge encryption, Fractal is creating a secure on-chain environment for all of Web3. Join our community on X, Telegram or Farcaster to learn more.