PANews reported on June 10 that according to official news, the communication platform Towns Protocol announced that it has completed an additional financing of US$3.3 million, led by Coinbase Ventures and echo. The financing was completed in April this year.

Towns Protocol is built on the Base network and aims to promote the development of Web3 social and collaboration tools. Towns hopes to create a digital town square through decentralization and Web3, where members can define boundaries, make rules and build the world they want, and users will become the masters of the digital town square. Earlier in April, Towns Protocol announced the completion of a $10 million Series B financing led by a16z crypto.