Mind Network 10 Headlines in 2024

5 min readDec 31, 2024

To all our Minders, cheers to 2025! 🚀

$10M Pre-A Funding Secured

In September, we announced that Mind Network successfully raised $10M in its Pre-A funding round, accelerating the development of cutting-edge FHE infrastructure. This investment solidifies our position as a leader in secure AI and Web3 solutions. Our total fund raising is now $12.5M.

Incentive Testnet Milestone 657K+ active wallets

FHE Bridge is the first quantum-resistance FHE bridge for regulated financial institutions to secure cross-chain transactions. Piloted with SWIFT and a few global banks. Signed Tier 1 channel partnership agreement with Chainlink. This product is based on a research outcome with the Ethereum Foundation (https://ethresear.ch/t/fhe-dksap-fully-homomorphic-encryption-based-dual-key-stealth-address-protocol/16213).

Our Testnet campaign for FHE Bridge ended in May achieved groundbreaking results 657K+ active wallets and over 3.2 million transactions. This engagement showcased unparalleled community enthusiasm and commitment.

MindV Launches: A New FHE Consensus Framework Designed for AI

In September, we officially launched MindV, an FHE consensus framework designed for AI and blockchain networks. It enables secure consensus for both AI and Web3 through $vFHE-powered voting and modular Hubs.

Data management is a key challenge for AI, and Fully Homomorphic Encryption (FHE) allows computations on encrypted data without decryption, unlocking new possibilities for blockchain and AI ecosystems.

MindV provides a leading solution by encrypting critical AI data, enabling the rapid scaling of decentralized AI agents, protocols, and networks, and helping them capture market share from centralized AI products.

Over $20B in Total Governance Value (TGV)

MindV can be thought of essentially as a way to tokenize TVL with added FHE security. TVL is idle capital that contains governing power which MindV unleashes into AI market demand. Of the $20B in TVL vaults held by our restkaing partners, MindV voters and delegators have tokenized a whopping $2B to date.

CitizenZ: Empowering Digital Sovereignty

Along with other FHE leaders, we launched CitizenZ Manifesto in October. HTTPZ is the next generation of Internet, where Encryption is Sovereignty. This visionary concept redefining digital rights, data sovereignty, and democratized AI. The launch of the CitizenZ Passport marked the first step, offering users exclusive rewards, token airdrops, and universal Hub access through $vFHE delegation and ecosystem participation.

Mainnet Adoption Breakthrough 1.2M+ daily transaction

Active User Base: 400,000+ active wallets within three weeks of mainnet launch
Transaction Volume: 1.2 million+ daily on-chain transactions
Rapid Growth: Onboarded 10,000 RandGen voters in just 24 hours for our first FHE Hub
Market Recognition: Ranked #1 in both the FHE and Privacy verticals, and #2 in AI vertical on Rootdata (as of December 25)

MindV Hubs Expanding the FHE Ecosystem

Through 2024, MindV Hubs emerged as a cornerstone of FHE innovation, launching 11 specialized Hubs with various partner-driven frameworks, including ZAMA, InfStone, ROAM, KIP, CARV, DIN and Cycle.

This modular ecosystem flourished with over 50 ecosystem partners, bringing encrypted voting, secure consensus, and decentralized collaboration to life across Web3, AI, and DeFi sectors.

Community Growth to 1M+

Our vibrant community reached 1M+ across all channels. We have achieved 450K+ members on Discord and engaged in over 40 unique activities, from mini-games to feedback sessions. CitizenZ and Minders played a crucial role in our journey.

FHECon: Industry Innovation Highlighted Globally

In September and November, Mind Network initiated signature event FHECon underscored FHE’s pivotal role in reshaping Web3 and AI. Throughout 2024, Mind Network’s global journey spanned three continents with nearly 20 impactful gatherings, from developer meetups to major conferences.

Our presence stretched from North America to Europe and across the Asia-Pacific region. From ETHDenver to ETHCC, and SIGKDD Barcelona, each event furthered our mission of bringing FHE technology to the forefront of blockchain innovation while building lasting connections across the global ecosystem.

Mind Network Pioneer Privacy-First World AI Health Hub

Mind Network, in partnership with ZAMA and InfStones, launched the world’s first World AI Health Hub on December 19th. Using Fully Homomorphic Encryption (FHE) and blockchain, it delivers secure and private health predictions and insights.

The platform keeps data private while enabling AI to generate transparent, verifiable predictions. With scalable infrastructure, it can support millions of users, transforming healthcare with secure, decentralized AI.

Looking Ahead: 2025 Strategic Focus

As we move into 2025, we’re concentrating on four core initiatives:

FHE Ecosystem Expansion: Growing our FHE ecosystem by accelerating user adoption and developer engagement.
HTTPZ & CitizenZ: Advancing HTTPZ to empower individuals with complete control over their digital identity and assets.
Community: Enhancing CitizenZ capabilities to drive active participation in our decentralized future.
Zero-trust AI Infrastructure: Building the foundation for FHE-powered AI systems that process data securely without decryption.

Thank you for an incredible 2024!

About Mind Network

Mind Network is pioneering FHE for a Fully Encrypted Web3. Innovating FHE to empower end-to-end encryption for the whole industry, starting with AI, modular chains, gaming, and DePIN. Mind Network offers unique solutions for data sovereignty protection, fair consensus, private voting, secured crosschain transfer, and trusted AI.

Mind Network is backed by notable investors including Binance Labs, Cogitent, Hashkey, Animoca Brands, Chainlink, and has received two Ethereum Foundation Grants for its FHE research. Partnered with industrial leaders like Zama, Mind Network is building a fully encrypted infrastructure for the vision of ‘Encryption as Sovereignty.’

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