[PRESS RELEASE – Denver, USA, December 2nd, 2024]
Dai Lo is thrilled to announce the successful acquisition of Fractal, which marks 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 harness Fractal’s groundbreaking ZK technology and revitalize its vision for the future.
The acquisition encompasses Fractal’s robust technology portfolio, token reserves, intellectual property, and, most importantly, its dedicated community. By integrating these assets, The Dai Lo aims to expand upon the exceptional work initiated 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 killer app and should be an option on every application on every chain. Fractal aims to be used everywhere” – Gary Mitchell.
A Strategic Vision for Fractal
Earlier this year, The Dai Lo embarked on a journey to explore groundbreaking projects in the Bitcoin, UTXO, BRC20, and Runes ecosystems. Fractal stood out as a project with immense potential but lacked the momentum to realize it fully.
While Fractal demonstrated the capacity to operate as an independent Layer 1 (L1) or Layer 2 (L2) platform, its greatest value lies in serving as a foundational component for broader ecosystems, bridging blockchain and traditional Web2 applications. With privacy as a core focus, Fractal’s technology is uniquely positioned to redefine the market.
“It’s our belief that this project could achieve a $1 billion market cap or more,” said Gary Mitchell, The Dai Lo’s unofficial leader. “Our mission is to realize that potential and build a future where privacy is prioritized and celebrated.”
Meet The Dai Lo
The Dai Lo is a team of transformation specialists committed to identifying undervalued projects and driving them to success.
- Gary Mitchell (@GuyGaryMitchell): A startup veteran passionate about innovation, Mitchell brings a wealth of experience from the Ethereum, Cardano, and Solana ecosystems and will dedicate his focus entirely to Fractal.
- Yeolin Han (@_yeonglihan): A coding prodigy with expertise 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 expertise in AI, ZK, and other related technologies.
The Path Forward
Revitalizing Fractal’s community is the team’s top priority. Acknowledging frustrations from 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.
In tandem, the team is revisiting branding to return to Fractal’s roots as a privacy-focused project. With cutting-edge zero-knowledge technology in the pipeline, the long-term goal is to make Fractal scalable, reliable, and user-friendly.
“Privacy isn’t just a feature—it’s the foundation,” said Yeolin Han. “Fractal will empower users to decide what remains public and what stays private, revolutionizing on-chain transaction privacy.”
Additionally, “Fractal should be part of every technology stack in DeFi, AI, and others on every chain possible. Privacy is a killer app and should be an option on every application on every chain. Fractal aims to be used everywhere” said Gary Mitchell.
Acknowledgments and Looking Ahead
With the dissolution of Discreet Labs, the organization behind Fractal, The Dai Lo expresses its gratitude to all contributors who laid the groundwork for this acquisition. Special thanks go to Sam Harrison for his instrumental role in finalizing the deal.
The 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 Fractal Network
Fractal Network is a multi-layer network committed to applying zero-knowledge cryptography at every level of the Web3 stack. Our technology powers secured 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.
