5ire Unicorn

A dual-chain (EVM and WASM) blockchain ecosystem that focuses on combatting global sustainability issues, aligning to the UN's 2030 agenda for sustainable development.

5ire uses a Proof-of-Benefit methodology for consensus, with scores given based on the UN's 17 Sustainable Development Goals (SDGs) and 650 environmental, social and governance (ESG) parameters, rewarding validators for sustainable behavior instead of pure stake or work.

5ire's grants scheme is designed to attract top-tier developers and propel the adoption of decentralized applications (dApps) on the 5ire blockchain, covering infrastructure, social impact, DeFi, gaming and NFT projects.

NITI Aayog, the Indian Government's apex public policy think tank, launched a blockchain module in partnership with 5ire and Network Capital targeting Atal Tinkering Labs in more than 10,000 schools in India.

5ire planned to expand headcount with senior executives 'who can help us get adopted by Fortune 500 companies and governments.'

Building 5irechain, a 5th generation Layer-1 blockchain network using a Proof-of-Benefit consensus methodology instead of Proof-of-Stake or Proof-of-Work.

The Sustainable Proof-of-Stake (SPoS) consensus mechanism incentivises validators towards sustainability by scoring nodes on ESG compliance to determine block assembler selection and rewards.

5ire ran a $10 million grants program, with individual grants of $10,000 to $100,000, to attract developers and accelerate creation of dApps on the 5ire blockchain.

5ire had 105 employees, of which 65 were developers, mostly deployed in its Bengaluru office, with plans to expand headcount to 150 to help the company get adopted by Fortune 500 companies and governments.

The Indian Government's apex public policy think tank, NITI Aayog, launched a blockchain module in partnership with crypto-focused 5ire and Network Capital, under NITI Aayog's Atal Innovation Mission which runs Atal Tinkering Labs in more than 10,000 schools in India.

5ire and GRO Initiative formed a strategic partnership to pioneer sustainable blockchain solutions, including supplying 5ire's Carbon Marketplace with GRO's assets and exploring asset-backed carbon finance solutions.

UK-based conglomerate SRAM & MRAM invested $100 million in 5ire's Series A round, becoming its primary institutional backer.