Dear Community, the Alchemix core team is excited to announce a successful funding round in coordination with an active supporter group.
We'd also like to share details of a second, strategic fundraising deal.
The first deal was made with the longevity of the project and the interests of ALCX token holders in mind. As part of the deal there are some interesting conditions that ALCX token holders should be aware of, so please read through to the end of this announcement.
The final list of investors is as follows (in order of size):
and 1 individual
We agreed to sell our team tokens at the price of $700 per token for the total value of $4.9m. The trading price at the time of the deal (11th of March) was ranging between $680-800. The proceeds of this round have been transferred to the founders to function as personal funding. This compensates us for the speculative and free work taken to progress the project to where it is today.
It is also important to note that until now we have not received any funding whatsoever.
This is incredibly positive for the outlook of the project offering substantial benefits:
Frees up the founding team to commit to full time development - accelerating towards Alchemix V2
Facilitated our ability to generate funding via OTC, avoiding any sell pressure on the market
The deal also came with conditions for both sides:
The founding team will not sell any ALCX tokens for the remainder of the calendar year
The partners have agreed to a 3 month token lock-up period
We are also working on finalising a strategic sale with exciting partners. Whilst we are unable to go into specifics regarding it since this is still being finalised, we feel it's important to be as transparent as possible.
Unlike the first deal, this will be funding the Alchemix Treasury and will be used to fund business operations to include:
Contractors and additional staff
Development and infrastructure costs
Rewarding community members for valuable contributions
The partners are willing and able to provide invaluable support and expertise to the team, including:
Cross protocol facilitation
Connecting us to auditing firms
We see both deals as a huge win, aligning the teams objectives and our ability to serve the DeFi Nation with upcoming innovations that will continue to make waves in the space. We hope you are as excited as we are about these developments.
You are invited to reach out in Discord and the forum to ask questions about our future plans.
For the Future of France!