Wu said that the Web3 identity layer idOS announced the completion of US$4.5 million in financing, led by Fabric Ventures, with participation from Arbitrum, Circle Ventures, RippleX, GnosisDAO, NEAR Protocol and others. This financing round also marks the establishment of the idOS Alliance, which aims to develop the Web3 identity layer and promote the adoption of decentralized identity throughout the Web3 space. idOS is a decentralized data storage and access management protocol that enables the ecosystem to provide an identity layer for dApps to solve compliant user onboarding issues and significantly reduce friction.