The First Quarter of Surge - Q2 2024

Jul 8, 2024

After countless hours of coding, pitching, fundraising, and collaborating with top-tier teams, this quarter has been nothing short of exhilarating. I'm beyond excited to share some monumental updates that are poised to redefine the Bitcoin ecosystem.

Firstly, my heartfelt gratitude goes out to Surge's early believers—the visionary Rollup teams and our steadfast investors. This quarter marks Surge's genesis, setting the stage for unparalleled Bitcoin scaling and economic diversification.

Let's dive into the groundbreaking achievements and what's on the horizon for Surge.

Topics Covered 👇

  1. Surge Team

  2. Tech Research & Development (few Alpha)

  3. Rollups Team/Clients

  4. Surge Brand Presence

  5. Our Pre-seed Round

  6. Ecosystem Partnerships and Integration

#1 The Team

The magic behind Surge lies in its exceptional team. Our initial Surge team is a powerhouse of Web3 engineers and business strategists. We are in the process of expanding our tech and marketing divisions and will ramp up our sales team upon onboarding our first batch of rollups (targeting at least 5). Our collaboration with the first rollup teams is pivotal in crafting the blueprint for future scaling.

Meet our core team members, besides myself and my Co-founder, CTO - Punith:

The team at BlockTheory, part of Surge, operates a Web3-native R&D center in Bengaluru, India's Silicon Valley.

#2 Tech Research & Development

Our journey began with a draft Whitepaper, which has evolved through extensive Rollup team engagement and hundreds of engineering hours into a robust technological stack.

RaaS Stack

Our Developer Playground now allows external developers to spin up sovereign rollups with Bitcoin as the DA effortlessly. From the start, our mission has been to empower the Bitcoin developer ecosystem with essential tools to explore and maximize our stack's potential.

SuperStack Network

Our decentralized Zk Verifier and MPC-TSS network are rapidly advancing, with the incentivized devnet launch ahead of schedule for this quarter. We have received lot of interest from top tier validator nodes.

#3 Rollup Teams / Clients

The rush of adrenaline from solving tech challenges in Web3 can be intoxicating, often leading to an overemphasis on solutions rather than problems. At our company, we prioritize thoroughly understanding the problem statement to ensure it effectively addresses the challenges faced by teams. While DeFi has been a common focus in Web3, we engage with teams working on diverse use cases, including loyalty programs, micro-payments, and more.

Our alignment with the first batch of rollup teams is crucial. Though Web3 currently has more infrastructure projects than consumer apps, we are early in the adoption curve. We dedicate 50% of our energy to interacting with and onboarding teams and apps built on Surge. We're thrilled about the first few teams we've secured.

Expect major announcements this quarter! We're deep into preparation, and key updates will be rolling out soon.

#4 Surge Brand Presence

We've launched our online presence with a website, blog, and social media channels, and we've received fantastic feedback. Our stakeholders appreciate the sleek and appealing design. We're working on meaningful social content around Surge, and you'll see increased activity in the coming weeks.

#5 Our Pre-seed Round

We secured our first check during Bitcoin Asia (May), and much of the founders' effort has been dedicated to pitching and raising this round. With significant traction, we're nearing closure. Some notable funds already in the round include DoublePeak Group, CoinGecko Ventures, Vamient, and Samara AG.

#6 Ecosystem Partnerships & Integration

Web3 is at a critical juncture, with multiple investments driving significant infrastructure development. We aim to build only the essential parts and have already partnered with key modules like Data Availability Layers, MPC-TSS, and ZK technology.

The next phase of Web3's success lies in unlocking existing infrastructure, driving innovation that addresses real-world problems, and onboarding the next wave of Web3 users. We are on the brink of a transformative era.

The first quarter has been remarkable, and with significant progress made, we have plenty to share this quarter. We're always eager to hear from the community. Join our Telegram and follow us on Twitter for all key updates.

Written by

Written by

Yash Belavadi

Yash Belavadi

Yash is the Co-founder and CEO of Surge. A tech entrepreneur with nearly a decade of diverse experience, he has built multiple startups and has been in the Web3 space for the past three years.