Description
Burnt is a Web3 company, formerly Burnt Finance, focused on rebuilding systems of ownership. Its primary initiative is XION, a Layer 1 blockchain designed for mass consumer adoption by abstracting away crypto complexities. XION's 'Generalized Abstraction' layer integrates features at the protocol level, including seamless account creation (Web2 logins), direct credit card purchases, and gasless transactions, with USDC as the primary transactional currency. This allows developers to build user-friendly applications for non-crypto natives across sectors like gaming, community, and commerce. Built on the Cosmos SDK, XION is supported by over 75 partners and has raised over $36M from investors including Animoca Brands, Circle Ventures, Multicoin, and Hashkey.