AngelBlock Bi-Monthly Update: July & August
11 Sep 2024 · 10 min read
Bi-Monthly Update
Bi-Monthly Update
Development & DevOps
Development & DevOps
Marketing & Community
Marketing & Community
Project Updates
Project Updates
This summer at AngelBlock has been filled with reflections and strategic planning aimed at enhancing the fundraising experience on our protocol. Recently, the management team held a series of intensive workshops to assess our current position, analyze the platform’s usability and product-market fit, and map out some exciting plans for the months ahead (more on that soon! 😉).
August proved to be both pivotal and challenging, not just for AngelBlock, but for the broader market as well, largely due to unfavorable conditions and the ongoing correction. The sustained market downturn has created a sense of insecurity and uncertainty among participants and potential investors. This atmosphere has particularly impacted projects poised to raise funds, with many opting to delay their TGEs until later in the year when conditions may improve. As a result, fundraising activity has largely slowed, with only a few exceptions.
For us, the situation has been no different. While we had several potential raises in the pipeline ready to be listed on our protocol, the broader market dynamics caused these projects to pause their fundraising plans, waiting for better conditions. This is something we also advised them to do, as our primary concern when considering new listings is to avoid exhausting our community's resources and pursuing something unrealistic based on the current conditions. Since, as you know, we always want to present our community with projects that not only excite us but have also undergone thorough due diligence before we share them.
Strategically, however, none of this has phased us. Having raised almost $500,000 in just four raises in previous months, we used this time to reflect on what we’ve learned, assess the needs of the market and our community, and continue to uphold our mission of democratizing crypto fundraising. But let’s not get ahead of ourselves and let’s first take a look at what happened over the last two months.
Project Updates
DeltaPrime
On July 1st, DeltaPrime held their token’s ($PRIME) TGE event, successfully launching on AVAX and Arbitrum. (Announcement link)
After their TGE, the first token claims started for AngelBlock investors on DeltaPrime. Specifically, $PRIME claims began 9 days after their TGE, with subsequent claims available every 9 days until December 28th, 2024. Each investor can choose when to claim their tokens and may decide to let their tokens accrue before claiming if they wish. (Announcement link)
Milestone 1
On July 15th, DeltaPrime held their 1st Milestone vote!
Milestone Details:
- Starting Date: July 15th, 11pm CEST
- Funds released: 22%
- Goal: Perform IDO and have at least $1M in liquidity in Trader Joe / Uniswap
Their 1st milestone received investor approval, and a 22% funds release occurred for the startup.
Milestone 2
A month later, on August 15th, DeltaPrime’s 2nd Milestone vote began.
Milestone Details:
- Starting Date: August 15th, 11pm CEST
- Funds released: 17%
- Goal: Integrate Uniswap concentrated liquidity in both DeltaPrime Blue and DeltaPrime Red
Their 2nd milestone also received investor approval, resulting in a 17% funds release for the startup. Although the DeltaPrime team did not fully meet the milestone goals, the protocol allows for milestone approval through majority positive voting, showcasing the increasing trust investors have in the project!
What’s next for DeltaPrime?
Next Milestone Vote: September 15th, 2024
The Script Network
The 5th and 6th token claims for $SCPT tokens occurred in July and August.
Important Note for Script Investors:
Since the very first token claims, we have experienced and will continue to experience token distribution delays from the Script Network team. This stems from how the SCPT team approaches token vesting and unlocks. Apart from a slight delay in when tokens become claimable, there is nothing to worry about. We appreciate your trust and understanding in this matter and want to remain as transparent as possible for future claims.
What’s next for Script?
- Next token claim: September 18th, 2024
- Next Milestone Vote: September 19th, 2024
SquaDeFi
After hitting the hard cap of $50,000 in 24 hours in June, the kickoff fund release occurred for the startup.
What’s next for SquaDeFi?
- TGE: September 21st, 2024
- Next Milestone Vote: December 22nd, 2024
Product and Development Updates
As discussed at the beginning of this article, July and August saw an overall fundraising slowdown, reflecting market sentiment. Since Crypto Summer 2024 was particularly rough for alts, we advised partners looking to raise funds to wait until the market picks up. The positive side of this is that it will result in an increased number of investment opportunities in the coming months, with fundraises for MeAI and Amplifi already announced.
In the meantime, our platform remains active for investors performing actions related to previous fundraises. Meanwhile, the development team worked on various upgrades to the protocol infrastructure, specifically:
- Our investment flow has improved with minor backend changes that enhance overall performance and user experience.
- A new product was introduced, making fundraises available exclusively to US-based Sophisticated Investors. You can read more about that here.
On the tech side:
- We successfully migrated Layer Zero to version 2.
- We also completed AZERO MOST’s migration to the latest version.
Ecosystem
Staking Metrics Update
THOL Staking
- Total staked: 63,085,081 $THOL
- Stakers: 697
- NFTs staked: 1161 (Current market value per NFT: 6,881 $THOL
- THOL staking rewards pool: 17,112,455 $THOL
You can stake here.
AlephZero Validator Node Update: 2.83M AZERO Staked
We are always looking to improve and resolve any uptime issues or hiccups we may have had to keep the node running as close to 100% uptime as possible. We are thankful for the AlephZero Community's trust in staking with us.
Looking Ahead
We have reached a point where we know our solution not only works but provides a safer, better, and more transparent way of conducting token sales and fundraising than what has existed on the market. With this in mind, our focus moving forward is on scaling and offering our protocol to the widest audience possible.
Over the past few weeks, we have put in a tremendous amount of work on AngelBlock v3, a major strategic and developmental milestone for our team. Although we are not at liberty to discuss AB v3 just yet, we can promise a drastic decrease in fees, improved scalability, and transactional throughput, as well as features and implementations that have yet to be seen in an investment protocol.
We will be announcing specific features and updates in the coming weeks, along with a comprehensive guide and roadmap for what AngelBlock v3 is and what it will offer. Until then, get a glimpse of what's been in the works here.
See you in our next update!
Written by: Nikos Fratzeskos
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