The Dai Lo Announces Acquisition of Fractal Network

December 2, 2024 – Denver, United States

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 (zero knowledge) 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.

Gary Mitchell, the Dai Lo’s unofficial leader, said,

“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.”

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-one or layer-two platform, its greatest value lies in serving as a foundational component for broader ecosystems, bridging blockchain and traditional Web 2.0 applications.

With privacy as a core focus, Fractal’s technology is uniquely positioned to redefine the market.

Gary Mitchell added,

“It’s our belief that this project could achieve a $1 billion market cap or more. 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 – 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 – 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.
• Plus, 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.

Yeolin Han said,

“Privacy isn’t just a feature – it’s the foundation. Fractal will empower users to decide what remains public and what stays private, revolutionizing on-chain transaction privacy.”

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 ZK cryptography at every level of the Web 3.0 stack.

Our technology powers secured DeFi, asset tokenization, on-chain identity, private transactions and more.

Through applied ZK encryption, Fractal is creating a secure on-chain environment for all of Web 3.0.

Join our community on X, Telegram or Farcaster to learn more.

Contact

Gary Mitchell , contributor at Fractal