1. Have you raised these funds already? Where have/will you get the funds from, in what form (USDC, fiat, etc), and where are they now (or where will they be held)?
We will be securing the $50M Funding Pool through our fundraising efforts, which included private sales, public sales, and strategic partnerships in the upcoming 2 years period. The funds are currently held in a combination of stablecoins, primarily USDC, in multi-signature wallets to ensure security and transparency.
2. What will be the source of the new funding?
Going forward, the new funding will be sourced from multiple channels, including the reinvestment of 50% of tokens received from funded projects into the funding pool. Additionally, we will actively seek strategic partnerships and explore revenue-generating activities to grow and maintain the funding pool.
3. Has a project already launched on your system? If not, when are you scheduled to begin?
We are currently in the final stages of onboarding our first project onto the dAngel Fund Launchpad. The official launch is scheduled for Q2 2023, and we have a strong pipeline of promising projects lined up for the upcoming quarters.
4. Do you have something that shows the entire process and how everything fits together, starting from when a project requests to participate to the end?
Yes, we have comprehensive Gitbook documentation detailing the entire process, from project submission to post-launch activities. It covers every aspect, including funding pool allocation, IDO system, retail and institutional investor participation, and returns realization. The documentation also outlines the project evaluation and selection process and the criteria for determining funding amounts. We are constantly growing the documentation with the recent updates.
Please have a look at our Standard Operating Procedure (SOP) for a Project to join dAngel Fund.
- Project owners fill out the Application form
- Collecting deck, tokenomics, private and public sale status, smart contract audit, legal opinion, and product status.
- KYC approval for project owners
- Submitting all relevant docs to dAngelFund DAO
- Getting approval from dAngelFund DAO for listing
- Determining IDO details (IDO price, date and amount)
- Determining Airdrop budget ($10k-$20k)
- Signing a listing agreement with the project
- Creating Discord Channel for the project under dAngelFund DAO
- Listing the project on the website
- Announcing it to the community (in all of our social accounts)
- Having AMA Session - Twitter
- Having AMA Session - Discord
- IDO Registry
- IDO Sale
- Project tokens distributed to the participants
- The project gets its collected fund from IDO after heading toward the exchange listing
5. How will it be determined how much a project gets from the funding pool?
The allocation of funds from the funding pool will be determined on a case-by-case basis, considering each project’s unique requirements and potential for growth. Factors such as the project’s stage of development, market traction, team experience, and overall vision will be considered during the evaluation process in dAngelFund DAO through voting. This ensures that each project receives an appropriate level of funding to support its growth and development.
6. What system will the IDO use?
Our IDO platform will utilize a tiered system that caters to retail consumers, institutional investors, and NFT holders. The tiered system will allocate IDO slots based on factors such as the amount of dAngel tokens held, NFT ownership, and historical participation in dAngel Fund Launchpad projects. This structure aims to provide fair access and incentivize long-term engagement with the dAngel Fund ecosystem.
7. What happens to the funds from the IDO?
The funds raised during the IDO will be distributed as follows:
- 50% of the tokens will be allocated to the funding pool to support the ongoing funding of new projects.
- 25% of the tokens will be allocated to stakers, rewarding them for their participation and support.
- The remaining 25% of the tokens will be allocated towards dAngel Fund operations, ensuring the continuous development, maintenance, and improvement of the platform and its features.
8. How do retail consumers, institutional investors, and NFT holders participate and realize returns?
Retail consumers, institutional investors, and NFT holders can participate in IDOs through the dAngel Fund Launchpad by staking dAngel tokens or owning dAngel NFTs. By participating in the IDOs, they gain access to promising projects in their early stages, which can potentially yield significant returns over time as the projects grow and succeed.
Additionally, stakers will receive a portion of the tokens acquired from the funded projects (25% allocation), thus realizing returns on their staked tokens. NFT holders will also benefit from exclusive perks, such as early access to projects, increased allocations, and potential airdrops.
In summary, dAngel Fund provides a comprehensive platform for projects and investors, offering funding solutions, marketing, and listing services, and an upcoming NFT marketplace with borrowing and lending features. By participating in the dAngel Fund ecosystem, retail consumers, institutional investors, and NFT holders have an opportunity to invest in promising projects and realize returns on their investments.