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AlgoBlocks raised $1,940,000 in its strategic and private funding, thanks to the addition of investors Draper Dragon and Kyber Ventures. The company successfully helped achieve its strategic round goal of $391,000, and it raised $1.55 Million under its private funding. The total goal to reach in seed, provide, and public round is $2.36 million.
To achieve this, its Initial Dex Offering (IDO) with Poolz and Krystal will be launched in April 2022. After the IDO, it will be a simultaneous listing on MEXC and BitMart on April 12, 2022, at 12:00 UTC. The money raised will be used for product development and growth initiatives, such as partnership work with other protocols. It will also be used to enter the NFT ecosystem and allow users to ride the growth happening in that arena.
The Investors
- Draper Dragon is an early-stage venture capital fund focusing on cross-border tech. Its investments include Vechain, Ledger, and Thundercore, among others.
- Kyber Ventures is the investment arm of Kyber Network (http://Kyber.Network). They support entrepreneurs building the next giants of the decentralized world.
- Big Brain is the name behind Solana and the Graph. Its investment portfolio is at $15 million across over 50 projects.
- MEXC is a centralized exchange founded in 2018. AlgoBlocks has a standing agreement with MEXC for listing.
- Lancer Capital is a private equity firm for blockchains founded in 2017. It is known to be a backer of Polkadot.
Roadmap
The team at AlgoBlocks remains within schedule to achieve its goals in the first quarter of 2022. Its IDO listing is expected on 12 April 2022. The IDO is launching with Poolz and KrystalGo. Also, it will be listed on MEXC and BitMart.
With the availability of AlgoBlocks in these platforms, its reach will expand to bring seamless and beginner-friendly DeFi to more users. One of the core goals is to provide an avenue to invest and stake in DeFi projects with trading strategies in template form.
The platform will embrace cross-chain service to bring various blockchains into one space. It aims to support a flexible integration with the largest number of supported products in the market.
Product Features
As an all-in-one DeFi management platform, AlgoBlocks aims to simplify the process of interacting with multiple DeFi protocols across different blockchains. Here is a summary of product features that AlgoBlocks will offer to DeFi users:
– All In one DeFi Dashboard, connect the wallet to view your DeFi portfolio.
– Intelligent and personalized signals system.
– Curated one-click investment option or DIY your own pre-programmed trade.
– Marketplace, visit the marketplace to find curated DeFi Investment recommendations.
– Swap Assets access multiple DEXes on a single page.
– Comprehensive Dapp and DEX search engine, from DEXes to NFTs.
– DeFi education portal with a gamified system encourages DeFi newbies to learn DeFi concepts and earn NFTs.
The Team
The team comprises CEO Joseph Kim, CTO Kareem Elshahawe, and CMO TN Ko. Kim has over 13 years of financial services experience in and out of the blockchain space and held senior positions at Citigroup and BC group. Elshahawe is backed by over a decade of software engineering experience and held senior positions at Societe Generale and Datum Blockchain. Ko heads the marketing block with over 8 years of experience in global marketing. He previously held roles in Crypto.com, BTCC, and Facebook.
Follow AlgoBlocks in its community and social channels to be the first to know about updates.
Twitter: https://twitter.com/Algoblockstrade
Telegram: https://t.me/algoblockss
Discord: https://discord.com/invite/k7PJtznppk
Medium: ??https://algoblocks.medium.com/
LinkedIn: https://www.linkedin.com/company/algoblockstrade/
YouTube: https://www.youtube.com/channel/UC2IdcaQkR_4ENNbbtOnom2g
