DeltaPrime is coming to AngelBlock on May 30!

16 May 2024 · 10 min read

What is DeltaPrime & How does it work?

DeltaPrime Highlights

$Prime Token

AngelBlock X DeltaPrime Raise

AngelBlock X DeltaPrime Milestones How to Participate in the raise?

Update 21/05/2024: Article was updated with all the raise details and Milestones.

Update 28/05/2024: Updated Highlights and Intergrated Protocols

It has been more than a year since we first announced the DeltaPrime raise on our protocol, and we are excited to announce that the time has arrived. We will be hosting DeltaPrime’s fundraise on May 30, 2024.

Since the announcement of DeltaPrime, much has changed. We endured a brutal bear market and faced some of the toughest market conditions to date. Despite these challenges, we emerged stronger than ever. We hosted three successful raises, launched new features of our protocol, revisited and improved features that didn’t meet expectations after receiving community feedback, expanded our team, and are now working on more protocol developments than ever before. DeltaPrime has also seen significant growth, currently boasting a Total Value Locked (TVL) of $38.12M [ATH TVL $50M] as of today.

But first, let us properly introduce you to DeltaPrime. Specifically, in this article, we are about to dive deep into:

What is DeltaPrime & How does it work?
DeltaPrime Highlights
$Prime Token
AngelBlock X DeltaPrime Raise
AngelBlock X DeltaPrime Milestones
How to Participate in the raise?

What is DeltaPrime & How does it work?

DeltaPrime was launched on Avalanche on January 10, 2022, after 18 months of development. On September 20, 2023, DeltaPrime was also launched on Arbitrum. DeltaPrime is a decentralized borrowing and investing ecosystem. You can lend out or invest with borrowed funds across the most popular protocols on Avalanche and Arbitrum, with a minimum collateral ratio of 20%.

Depositors can lend out funds by depositing an asset into one of the liquidity pools (eg. $AVAX or $ARB). Borrowers can then borrow these assets for which they pay interest. The interest rate is dependent on supply and demand of that asset.

Borrowers of these pools can invest borrowed funds, together with their full collateral, in a multitude of DeFi protocols. While borrowers can be liquidated if they lose too much value, they can also reap bigger rewards by making good investments. Depending on the strategy borrowers set up, they design their own Risk/Reward.

What makes DeltaPrime's architecture unique is the ability to liquidate funds, independent of the protocol they are in at that time. DeltaPrime can do this by sending borrowed tokens to a personal, dedicated smart contract, instead of a personal wallet. See it as an escrow smart contract. While the borrower is solely in charge of this smart contract, it allows the protocol to protect the funds through liquidation if necessary.

This method is very similar to a margin account. The main difference is that all funds in the account can be used, cross-margin, across a range of DeFi protocols.

Protocols already Integrated

Below is a list of the integrated protocols in DeltaPrime. When you deposit funds on DeltaPrime, you are indirectly investing in these protocols.

Disclaimer: While the development team attempts to only integrate high-quality protocols: Always Do Your Own Research (DYOR) before investing.

Avalanche

Trader Joe
Trader Joe LB
Pangolin
Balancer
Colony Lab
Yield Yak
Yield Yak Swap
Paraswap
GM v1 & v2

Farming protocols like Yield Yak often optimize Liquidity Providing to other protocols. This means that providing liquidity through them might also expose your capital to other protocols. For sake of transparency, these protocols are listed below.

Aave
Benqi
Gogopool

Arbitrum

GMX v1 & v2
Trader Joe LB
Beefy
Yield Yak
Yield Yak Swap
Penpie

DeltaPrime Highlights

Revenue previous quarter: $1.650.000
Prime Accounts: 6000+
Volume swapped: $1.5B+
TVL peak: $50M
Integrated partners: 12
Insurance pool: $2.3M

If you want to know more about DeltaPrime, you can read up here.

$PRIME Token

DeltaPrime is an ecosystem. A place where unused capital is recycled, to once again provide value to the biggest and safest protocols on the chain. DeltaPrime unlocks incredible value within the blockchain, and demands a token that unlocks incredible utility within its ecosystem: $PRIME

The utility for $PRIME will consist of:

Automated-strategies - giving access to delta neutral & delta mitigating vaults, which have safe access to increased leverage
Additional tokens usable as collateral
Rewards for adding value to DeltaPrime’s stability pool
Increased leverage where safe
$PRIME based governance
Decreased transaction fees / spread when paid in $PRIME from personal vault

The $PRIME token is designed to provide value through use: Paying in $PRIME on DeltaPrime unlocks the highest yielding opportunities, thus providing opportunity-yield. In doing so, we can expect rational actors to use the $PRIME token while interacting with the protocol. This system sustainably removes $PRIME from circulation, while simultaneously increasing the value within DeltaPrime. Partnerships created, nurtured and wielded by DeltaPrime will keep the opportunity cost of switching to knock-off competitors higher than paying in the $PRIME token.

For the detailed $PRIME tokenomics you can check here.

AngelBlock X DeltaPrime Raise

Update 21/05/2024: Section was updated with all the raise details

The launch price for $PRIME is set at $1.3125. However, investors on AngelBlock will be able to access it at $1.125.

AngelBlock Raise Goals

Soft Cap: $50,000
Hard Cap: $200,000

Raise Details

The circulating supply of $PRIME at the time of launch will be 4,571,429 tokens.
The total supply of $PRIME is set at 40,000,000 tokens.
The initial market capitalization of $PRIME is set at $6,000,000 with the fully diluted market cap at $52,500,000.
The minimum investment to participate in the DeltaPrime raise is set at $500.
KYC is needed to participate in DeltaPrime’s raise. Investors who have not completed KYC, they won’t be able to contribute as opposed to the previous raises where non-KYCed investors were able to contribute up to $999. You can read more about that in the KYC process we have implemented below.
Investors will be able to participate in the raise with USDT on ETH mainnet. The token claim however will be on Avalanche.
The Vesting Schedule is as follows:
Cliff: 0 months
Linear Vesting: 6 months

AngelBlock X DeltaPrime Milestones

Update 21/05/2024: Section was updated with all the raise milestones, more information added on Milestone 1.

Our approach to governance is a distinctive feature of AngelBlock, distinguishing us from the competition. In each project listed on AngelBlock, a set of milestones is established before the fundraising event begins. Each milestone includes clear deliverables, timelines, the proportion of the budget to be unlocked for the projects, and the amount of tokens to be released.

These milestones act as progress checkpoints and provide reassurance for investors. When a milestone date is reached, the startup submits a delivery report. As an investor, you then vote to approve or reject the progress based on this report. This system ensures the startup's progress and the release of funds becomes a shared responsibility between the startup and its investors.

After our first successful fundraises on AngelBlock and reviewing the milestone process, we have decided to modify this process slightly. Specifically, to reduce the waiting time for the community between a project's fundraising and its launch, and to assist the project in acquiring the much-needed liquidity typically required at launch, we will be implementing two hardcoded milestones: Milestone 0 and Milestone 1. These will likely be set as standard presets for most future fundraises.

Milestone 0: A liquidity unlock immediately after the fundraiser, which will help the project secure essential early liquidity for processes like CEX/DEX listings, protocol expansion etc. This will enable the startup to progress through their subsequent milestones more quickly and smoothly.

Milestone 1: A hardcoded milestone for all future fundraises, which will be the Token Generation Event (TGE) — essentially, their token launch. Milestone 1 will be tied to each project's first unlock, so investors can claim their first batch of tokens upon milestone approval. For example, if a project has a 3-month cliff period, then Milestone 1 will occur 3 months after their TGE (Token Generation Event). This milestone is designed to protect our investors by preventing startups from setting milestones unrelated to their actual launch, which could potentially delay their launch indefinitely or until they run out of funds or have one of their milestones rejected.

A specific framework will be implemented dictating how Milestone 0 and 1 will work on each start-up raising dependent on the total amount raised, investment round & start-ups development phase.

This will be the case for the DeltaPrime raise as well with which we will be introducing Milestone 0 & Milestone 1.

DeltaPrime Milestones

Milestone 0

Delivery date: End of the fundraise
Funds released: 33%
Deliverables: Launch DeltaPrime and achieve $35M TVL

Milestone 1

Delivery date: July 15th 2024
Funds released: 23.1%
Deliverables: Perform IDO and have at least $1mm in liquidity in Trader Joe / Uniswap

Milestone 2

Delivery date: August 15 2024
Funds released: 17.5%
Deliverables: Integrate Uniswap concentrated liquidity in both DeltaPrime Blue and DeltaPrime Red

Milestone 3

Delivery date: September
Funds released: 26.4%
Deliverables: Reach 10.000 Prime Accounts (currently 6000) and $50mm TVL > 3 weeks

If you are interested in learning more about our post-raise mechanics and how our milestones work you can do so here.

How to Participate in the raise?

Staking Tiers

At AngelBlock, we've instituted a distinctive staking tiers system designed to create a fair and rewarding environment for investors. By staking $THOL tokens, you are placed into specific tiers which each have their own level of priority access and ticket sizes to the fundraising projects.

Here's a detailed look at our staking tiers:

Standard User (Tier 0): Users who've staked 0 – 20k $THOL fall into this category. Standard users can invest up to $2k, and they gain access to the fundraise after the first three tiers have had their opportunity.
Value Investor (Tier 1): Users staking 20k – 100k $THOL become Value Investors. These users have the opportunity to invest up to $10k and gain early access to fundraises after the first two tiers have participated.
Angel Investor (Tier 2): With 100k – 500k $THOL staked, investors fall into the Angel Investor tier. These investors have access to larger investment ticket sizes of up to $25k, along with the privilege of second priority access for the given fundraises.
Institutional Investor (Tier 3): Our top-tier users, staking 500k+ $THOL, are labeled as Institutional Investors. These individuals enjoy the most substantial benefits, being able to invest up to $50k and gaining first priority access to fundraises.

Notably, any community sale participant who stakes a minimum of 1000 $THOL at the start of the raise will be considered a Tier 3 investor. DeltaPrime's raise will be the last raise where this privilege will be in effect for community sale participants.

Each tier enjoys a 24-hour window of priority to invest in the project, starting with Institutional Investors, followed by Angel Investors, Value Investors, and lastly Standard Users. You can learn more about our staking tiers here.

You can get THOL here:

Visit Uniswap and swap your preferred tokens for THOL
Visit MEXC and get THOL through the USDT/THOL trading pair.
Visit BitMart and get THOL through the USDT/THOL trading pair.

You can stake your THOL here and you can learn more about staking here.

The KYC process

Participation in the DeltaPrime raise requires completion of a Know Your Customer (KYC) process. All contributions will be KYC-ed regardless of the amount invested. This process is designed to prevent fraud and illegal activities.

The KYC process is managed by Fractal ID, an identity solution provider for the web3 space. Completing the KYC process prior to the raise can help avoid potential delays that may occur due to high demand during the raise. For more information about the KYC process and how to complete the identity verification check out our dedicated article.

Participating in the raise

After completing your KYC and acquiring the required amount of THOL for the staking tier you desire, participating in the raise is a straightforward process. You can see the process of participating in a raise on AngelBlock with our step-by-step guide here.*

Post-Raise Governance

On AngelBlock, the role of an investor extends beyond merely contributing capital. Upon making an investment, the contributor is assigned a Badge, a unique, non-transferable ERC-1155 token. This Badge symbolizes the investor's voting power during milestone voting, thus participating in critical project decisions. Due to their non-transferable nature, these Badges ensure only the original investors can take part in milestone voting, upholding the integrity of the project's development direction. It is essential for investors to vote from the wallet that initially received the Badge. You can learn more about badges and how they work by visiting our blog here.

Reminder: Keep the wallet you plan to invest in safe at all times. If anything happens to your wallet, there is no other way to claim your tokens or vote during the milestone process.

Ready?

We believe it's essential for you, as an investor, to familiarise yourself with AngelBlock's unique features prior to the start of the raise on May 30, 2024.

For any further queries or support, don't hesitate to reach out to us. You can do so by joining our community:

Written by: Nikos Fratzeskos