Ethos (CRYPTO:3TH), a decentralised social application, has closed a $1.75 million funding round led by prominent web3 angel investors.

The funding will support the development and launch of Ethos's "social validation" protocol on Ethereum's (CRYPTO:ETH) blockchain, aimed at establishing on-chain credibility for users.

Founded in 2023, Ethos Network enables participants to stake Ethereum to vouch for others' trustworthiness, receiving credibility scores akin to credit scores.

This initiative seeks to combat fraud and enhance trust within the crypto space by leveraging community-driven validation processes.

Ethos plans to go live on Base later this summer, offering a solution to verify social capital across various sectors including DeFi, NFTs, trading, gaming, and DAOs.