IdOS, a decentralized data storage and access management protocol, has raised $4.5 million in a funding round led by Fabric Ventures, with participation from major web3 players like Arbitrum, Circle Ventures, Ripple, NEAR Protocol, GnosisDAO, Aleph Zero, Radix, and Tezos. This round also establishes the idOS Consortium, a collaborative effort to build a cross-chain, composable, and compliant identity layer for web3, aimed at enabling mainstream adoption by simplifying user onboarding for dApps and giving users control over their data. The initiative, dubbed "OpenFi," seeks to integrate decentralized finance (DeFi) into everyday applications using efficient web3 infrastructure. idOS is partnering with projects like Safe, Celo, Fractal ID, Kwil, Monerium, Mento Labs, OVioHQ, Gnosis Pay, and Zeal Wallet to overcome barriers posed by monolithic identity systems. The idOS Consortium invites all web3 ecosystems, identity builders, and OpenFi dApps to join in creating an open,...
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