# GongXinBao

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/gongxinbao

- Industry: Financial Services
- Headquarters: Hangzhou, China
- Website: www.gxb.io
- Latest round: Angel (May 1, 2017)
- Investors on record: 1

## About

GongXinBao operates a decentralized blockchain platform that enables fast, cost-effective on-chain transactions through innovative staking models and minimal gas fees, enhancing user experience across various decentralized applications.Founded in 2016, GongXinBao is headquartered in Hangzhou, China, and specializes in blockchain technology solutions. The company has not undergone any notable pivots and remains focused on its core business operations. The founder, Minqiang Huang, has not been publicly noted for previous ventures. In May 2017, GongXinBao raised an undisclosed amount of Angel funding from investor ZhenFund and an individual investor. The company has engaged in 1 deal to date, with the most recent deal dated May 1, 2017.GongXinBao offers a decentralized blockchain platform known as REI Network, which facilitates fast and cost-effective on-chain transactions. The platform features an innovative staking model, allowing users to conduct transactions with minimal to no gas fees. With an average block time of 3 seconds and a transaction throughput of over 3000 transactions per second, REI Network supports developers, DeFi projects, GameFi applications, and NFT creators by providing essential tools and resources for building and deploying decentralized applications (DApps). The platform's reach spans multiple global markets, supporting over 13 languages to foster a diverse community.GongXinBao generates revenue primarily through transaction fees associated with on-chain activities and staking mechanisms. Users can stake their tokens to facilitate transactions without traditional gas fees, earning rewards for validating transactions. This model promotes engagement and incentivizes community participation in governance through the REI DAO, where members can vote on proposals. Revenue derives from transaction volumes and potential partnerships within the broader EVM ecosystem, emphasizing direct user engagement.GongXinBao's future growth strategy includes developing new products and expanding its market presence. Upcoming product launches are aimed at enhancing the user experience and service offerings within its ecosystem. The company is exploring expansion into new geographic markets, although specific regions and expected timelines for this growth are not specified. The recent Angel funding raised in May 2017 will be utilized to support these initiatives, focusing on product development and market outreach efforts.

## Funding rounds

- Angel, May 1, 2017 — ZhenFund

## Investors

- ZhenFund (https://capitalatlas.ai/funds/zhenfund) — Angel