AngelBlock, a web3 fundraising platform for cryptocurrency, has announced SOLA-X as its inaugural fundraising project. Qualified investors may participate in the token sale, which is scheduled to commence by the end of this month.
SOLA-X is building a cross-chain decentralized finance (DeFi) hub that introduces a protocol-managed liquidity and arbitrage mechanism designed to eliminate problems around high slippage for traders and impermanent loss and low APYs for liquidity providers.
The protocol is characterized by its advanced liquidity management system, wherein users can supply a single asset that will be distributed across multiple liquidity pools for more lucrative returns.
The project could be an opportunity. This raise is the first on AngelBlock, a new crypto launchpad that aims to solve some of the most common problems investors face post-raise. It’s focused on increasing transparency to protect investors, holding startups accountable for their progress, preventing venture capitalists from dumping huge bags of tokens on the retail market, and killing the token price.
To address these challenges, projects that raise on AngelBlock must agree to undergo the initial Fundraising phase, followed by a post-raise governance phase that helps to ensure it can only access its investor’s capital once specific milestones have been achieved.
The second phase kicks off immediately after the fundraising phase has concluded and ensures that investors will play a key role in monitoring the progress of each project and influencing its direction. The idea is to increase collaboration between startups and investors to ensure everyone is working towards the same goal.
The way it works is that projects must establish clear milestones regarding their growth and expansion, with each one having concrete deliverables and timelines that must be met to unlock investors’ capital.
Once the startup says a milestone has been reached, investors can vote and either approve the milestone and unlock the capital or reject it and ask the project’s team to rectify whatever issues they might see.
“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,” AngleBlock said in a blog post. “This dynamic feedback mechanism ensures the constant evolution and success of the project.”
While anyone can invest in SOLA-X, priority access and larger investment ticket sizes will be granted to certain investors based on AngelBlock’s staking tiers system, which requires users to stake its native THOL tokens.
Those who stake 500,000+ THOL are classified as “institutional investors” and gain priority in the raise and the largest ticket size allocation.
By staking 100,000 to 500,000 THOL, users will be classified as “angel investors” and gain second-priority access, while staking between 20,000 and 100,000 THOL is enough to earn the status of “value investor” with third priority.
Each investor class will have its 24-hour investment window, during which they can access the raise. Finally, everyone else (including non-stakers) will be classed as “standard users” and have the opportunity to invest after those with priority access.
AngelBlock founder and Chief Executive Alex Strześniewski said his team has been working towards this first raise for many months.
“Hosting our first raise on AngelBlock underscores the potential of our protocol and paves the way for a more transparent, accountable, and engaging fundraising process within the DeFi landscape.”
Interested investors can check out the details of the SOLA-X project here.
Ahead of the raise, Strześniewski will join one of the co-founders of SOLA-X in an AMA session on Reddit. Investors can ask questions about AngelBlock, the fundraising and post-raise governance process, and the project itself.
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