AngelBlock Hosts Its First Raise: A New Era of Crypto Fundraising Begins
26 May 2023 · 6 min read
Announcement
Announcement
Product
Product
Raise
Raise
SOLA-X
SOLA-X
As the dawn of June approaches, something exciting stirs in the AngelBlock universe. We have been waiting, working, and building towards this moment for months, and now, it's finally here. AngelBlock is thrilled to announce that the first raise on our platform, featuring the project SOLA-X, is happening at the end of June. No more suspense, the cat is out of the bag, and we are excited about what this project brings to the table!
SOLA-X offers truly groundbreaking features within the realm of decentralized finance (DeFi). It's characterized by an advanced liquidity management system that allows users to supply a single asset, which then gets distributed across multiple liquidity pools. This system not only simplifies the liquidity provision process but also reduces impermanent loss risks, promising a more lucrative DeFi experience.
The SOLA-X platform aims to revolutionize trading experiences and optimize liquidity provider returns. It introduces innovative systems that manage liquidity in real-time and generate additional yields, ensuring a healthy ecosystem. Holders of SOLA-X's native token can participate in the protocol's governance and earn staking rewards. All the details along with the exact date and duration of the SOLA-X fundraise will be revealed next week. Meanwhile, feel free to dive deeper into SOLA-X's protocol details, tokenomics, team and more on the project listing page.
A Refresher: Navigating the Revolutionary Raising Process on AngelBlock
The raising process on AngelBlock is designed to ensure maximum transparency, accountability, and engagement. This innovative mechanism is essentially bifurcated into two major phases: Fundraising and Post-raise Governance. Each phase is distinct yet interconnected, combining to offer a streamlined, dynamic, and participative approach to raising funds and governing project execution. Let's delve into these phases to understand the intricacies and functionalities that make the AngelBlock raising process an exemplar of efficiency and inclusivity in the web3 space.
Phase 1: Fundraising
During this phase, users will have the opportunity to invest in projects that will conduct their token raise on AngelBlock. To ensure accessibility and convenience, we've integrated with C14, a fiat-to-crypto ramp, which will allow users to invest using either USDT or their preferred fiat currency.
Staking Tiers
Our unique staking tiers system is a critical aspect of the fundraising phase. This system, designed to reward our most dedicated community members, is structured around the number of $THOL tokens staked. The tiers are as follows:
Standard User (Tier 0): Users with 0 – 20k $THOL staked will be classified as standard users, with access to the fundraise after the first three tiers have had their opportunity.
Value Investor (Tier 1): Users staking 20k – 100k $THOL will be given the title of Value Investors. These investors will have basic benefits such as early access to fundraises, and can invest after the first two tiers.
Angel Investor (Tier 2): Those with 100k – 500k $THOL staked are classified as Angel Investors, enjoying enhanced benefits including larger investment ticket sizes and second priority access for given fundraises.
Institutional Investor (Tier 3): Our top-tier users, who've staked 500k+ $THOL, are our Institutional Investors. They'll enjoy the highest level of benefits such as the largest possible ticket size and priority access to fundraises. We're thrilled to announce that community sale participants staking a minimum of 1000 THOL at the start of the raise will be considered Tier 3.
Each tier will have a 24-hour window of priority to invest in the project. This means that during the first 24 hours, only Institutional Investors can invest, followed by Angel Investors, and then Value Investors. Standard Users will have the opportunity to participate once all other tiers have had their exclusive 24-hour window. The specific ticket sizes allocated to each tier will be disclosed in the forthcoming project announcement and listing date details next week.
Phase 2: Post-raise governance
The second phase, post-raise governance, commences immediately after the fundraising event concludes. This vital phase offers investors an active role in monitoring and steering the project's progress, achieved through our distinctive milestone mechanics. It's a collaborative journey where the growth of the project becomes a shared responsibility between the startup and its investors.
Before the fundraising, we establish clear milestones. Each milestone comes with defined deliverables, timelines, the proportion of the budget to be unlocked, and the amount of tokens to be released. These milestones serve as checkpoints to ensure that the project is advancing as planned. To empower investors, eligible participants are given the right to vote on these milestones, allowing them to steer the project's direction based on its performance.
In the interest of flexibility, startups can apply for changes to a single milestone or an overhaul of the roadmap. Such adjustments, however, are subject to the approval of the investors who cast their vote following the standard voting rules. This maintains the balance of power, ensuring that all critical decisions are driven by consensus and not by a single party.
An innovative feature of our post-raise governance is the option to define maximal voting power for a single owner. This serves as a safeguard against any disproportionate influence, reinforcing democratic decision-making throughout the project's lifecycle.
When a milestone date is reached, the startup is required to submit a delivery report for review. Investors then commence their voting process. Depending on the outcome of the vote, a milestone can either be approved, marking the achievement, or rejected, indicating the need for improvement. In case of rejection, the startup gets an opportunity to rectify the issues and resubmit the milestone for voting, thereby providing a second chance to realign their efforts with investor expectations. This dynamic feedback mechanism ensures the constant evolution and success of the project.
First Raise on AngelBlock: An Exciting Journey Ahead
The upcoming period promises to be an exciting time for everyone involved with AngelBlock as we gear up for our first-ever raise with SOLA-X on our platform. This groundbreaking event signifies the beginning of a new era, demonstrating the immense potential of our platform and the vision we have for the future of DeFi fundraising.
Next week, we will be providing you with an array of detailed insights into SOLA-X. This includes further elucidation of the raise process, specifics about the date of the listing, and many more aspects that would help you understand the full scope of the project. Knowledge is power, and we want our users to be fully informed as they embark on this journey with us.
Furthermore, to facilitate a better understanding and address any uncertainties, we will be hosting an AMA session with AngelBlock CEO and Founder, Alex Strześniewski, and one of the Co-Founders of SOLA-X. It is the perfect opportunity for you to have your questions answered and your concerns addressed directly by those at the helm.
So, stay tuned, keep that excitement brewing, and ready yourselves to partake in a momentous event. This isn't just another milestone for us, but rather a historic occasion within the DeFi industry, marking the first fully decentralized fundraising event. Let's make history together with AngelBlock and SOLA-X!
Written by: Christian Santagata
You may find interesting:
25 Apr 2024 · 7 min read
Do you want to be an AngelBlock Ambassador? Our team is growing!
09 Apr 2024 · 5 min read
March Roundup: Protocol Development, Script Network 1st token claim & more.
13 Mar 2024 · 5 min read
February Roundup: New projects on AngelBlock, Stabble’s Milestone Re-planning & the AlephZero bridge.
22 Feb 2024 · 5 min read
LayerZero X AngelBlock: Enabling AB cross-chain raises
View all articles
© 2023 AngelBlock Ltd. All rights reserved