Odaily News DePIN network Blockless completed $8 million in Pre-Seed and seed rounds of financing, of which NGC Ventures led a $3 million Pre-Seed round, M31 Capital and Frachtis co-led a $5 million seed round, and other investors included No Limit Holdings, MH Ventures, Interop Ventures and Plassa Capital. It is reported that both rounds of financing are simple agreements for future equity (SAFE), and the ratio of token warrants is 1:1. Co-founder Butian Li said the project plans to launch its testnet in the next few weeks, and the mainnet and native token BLESS are expected to be launched in the third quarter of this year. Blockless is using the Cosmos SDK to create its native network and tokens. Blockless's core team is located in Palo Alto, California, with a total of 10 employees, and Li plans to hire more employees in engineering, product and ecosystem functions. (The Block)