AngelBlock Bi-Monthly Update: September-October Recap
12 Nov 2024 · 10 min read
Monthly Update
Monthly Update
Development & DevOps
Development & DevOps
Project Updates
Project Updates
The recent market uptrend is energizing and refreshing for everyone. As we've shared before, the last couple of years have been brutal for the market, with many unexpected twists and changes that few could have anticipated. That being said, we are pleased to have emerged stronger, with the opportunity to build, test, and release our MVP, gather feedback, and now be in a position to launch multiple projects ready to raise funds in Q4 of this year—all while working on one of our biggest updates yet.
That being said, let’s dive into the updates from the last two months.
Project Updates
Script Network
Script Network's milestones have successfully concluded, with all three being accepted, including a change in Milestone 3 deliverables, which was also approved by Script Network's investors. Currently, 68.36% of their tokens have been released, with the remainder scheduled for monthly linear vesting until all funds are distributed.
DeltaPrime
DeltaPrime has successfully completed its first three Milestone Votes. Milestone 0 was tied to their initial raise, and Milestone 1 was connected to their TGE, which investors approved shortly after it. Despite not fully achieving its objectives, Milestone 2 was approved by DeltaPrime investors, demonstrating their trust in the project team and its progress.
However, following the Milestone 2 Vote, Milestone 3 was rejected by DeltaPrime investors. As you know, a milestone rejection triggers a Repair Plan Vote, where the startup has 7 days to submit a revised plan to adjust the next milestone's goals. During this time, the team encountered an exploit, putting them in a difficult position. Despite this setback, the team's resilience and ability to navigate challenges became clear, and their Repair Plan Vote was approved by AB investors. This allowed changes to both the timeline and objectives of the revised Milestone 3.
Unfortunately, at the time of writing, another exploit occurred on DeltaPrime, as mentioned here. We are currently awaiting further information on this latest exploit and the post-mortem report.
DeltaPrime's Repair Plan Vote Recap:
- New Milestone: Integrate the Bull Meter and a PNL chart into Prime Account statistics
- New Date: November 16th
Lingo
We recently hosted two rounds of Lingo on our protocol, which differed from previous raises in terms of investment flow due to the nature of our partnership with Lingo. These rounds were oversubscribed by 2x and were highly exclusive but we managed to get an allocation.
Still until their TGE is announced on X, all communications regarding LINGO will be limited on our internal channels. Lingo recently has announced their TGE for November, still subject to change based on market conditions according to what they shared. More details can be found on their Discord here.
Regarding the airdrops associated with Lingo, different rules apply compared to those who participated directly in Lingo's raise and us. However further clarifications will come from their team soon and once we have it we will share them.
SquaDeFi
SquaDeFi's vote to replan their first milestone goals was rejected, meaning the original milestone plan remained unchanged.
Based on the proposed changes from their team and our community’s intentions expressed in the replanning vote, their Milestone Vote—originally scheduled for December—was moved forward and subsequently rejected. As announced, our investors can now claim back 50% of their funds tied to that milestone.
Regarding the Milestone 0 funds that were previously released to SquaDeFi, their team has stated they will return 100% of those funds. However, the exact date for this remains uncertain, as the SquaDeFi team has not met their self-set deadlines since September 27. Once this is resolved, investors will be able to recover the remainder of their invested funds.
While this outcome is unfortunate, we are pleased to see the protocol fully utilizing its features, giving us confidence in what we are building and its positive impact on the crypto space as a whole.
Product and Development Updates
In the past two months, the product team has implemented a series of enhancements:
- Improved UI & UX: Users can now view the progress of current milestones, token release status, a fundraise summary, and all-time-highs.
- Startup Panel: Startups can claim unlocked milestones and monitor milestone voting status directly from their own dashboard.
ALPHA LEAK: Our team has also developed—and is currently testing—a new capability for our protocol to enable fundraises on Base, similar to how we previously hosted them on Ethereum. This expansion will allow us to tap into new user bases and liquidity pools within this rapidly growing ecosystem. Additionally, with Ethereum transaction costs on the rise, this move is a proactive step focused on users, significantly reducing transaction costs when interacting with AngelBlock.
On the code and infrastructure side, we have improved the contract deployment logic to enhance security.
Ecosystem
Staking Metrics Update- THOL Staking
- Total staked: 56,793,041 $THOL
- Stakers: 681
- NFTs staked: 1151 (Current market value per NFT: 5,450 $THOL
- THOL staking rewards pool: 15,475,158 $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 00% uptime as possible.
We are thankful for the AlephZero Community's trust in staking with us.
Looking Ahead
Looking ahead, we’re incredibly excited about what’s coming next for AngelBlock. Our recent progress has set the stage for even bigger milestones, and as we continue developing, our focus will be on enhancing security, scalability, and user experience.
We’re excited to be expanding fundraise options on Base, tapping into a thriving ecosystem that brings greater accessibility and lower costs to our users. We are committed to delivering solutions that empower startups and investors alike.
Stay tuned as we roll out updates that we hope will reshape how fundraising and token sales are done in the crypto space.
Written by: Nikos Fratzeskos
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