Key points from Friday’s call and what we did over the past week.
Greetings everyone, and welcome to the latest installment of our weekly Town Hall recap! While the broader market experienced a bit of a downturn, AMB still performed reasonably well. Additionally, this week marked a monumental development for AirDAO, as CEO Lang closed a $2 million deal with DWF Labs, a large venture capital and market-making firm. Obviously there are a lot more details involved in this landmark achievement, so let’s get into those and the other topics discussed during this week’s Town Hall.
- As noted by Lang, AirDAO closed its first investment deal with DWF Labs, securing $2m in stablecoins in return. Overall, the conversation and negotiation with DWF moved very quickly. AirDAO was referred to them by a third-party, and within five days of first contact, Lang had finalized the deal and we had received their investment. The tokens received by DWF will be vested for 36 months with a 6 month cliff. What this means is that they won’t receive any tokens until March 2023. At that time, they will receive an initial portion, with the rest of the tokens to be distributed daily via smart contract over the subsequent 30 months. A key detail is the $2m was not their highest offer. In fact, Lang turned down a $5m deal with DWF whose terms would’ve been against the community’s best interests. This clearly speaks to the fact that Lang is not willing to make any fundraising decisions that could potentially hurt the community.
- Another component of our deal with DWF is market-making. DWF is a top-five market-maker in the crypto space, so we will be utilizing this service as well. To make this happen, 250 million AMB were printed and transferred to DWF as a loan. They will be pairing this AMB with their own BUSD and BTC in order to boost liquidity, prevent pump-and-dump activity, and increase volume on our trading pairs. This is highly advantageous for us as it makes trading even easier and allows larger parties to buy AMB as they will be experiencing less slippage than before.
- Lang also pointed out that many huge projects like Ethereum and Cosmos have no max supply. Not only this, others such as Solana, Near, and even Bitcoin have an inflationary market effect despite having one. Also, inflation does not necessarily mean tokens are being sold or price will be directly affected. For example, right now all community staking rewards are funded by emissions — even though this increases supply, it also increases utility and demand for the AMB token. This isn’t to say that inflation is a positive, which is why we’ve committed to a hardcap, but it can serve certain benefits until Lang’s fundraising has concluded and the max supply has been written into code. Ultimately, securing deals for capital with investors is key for building more use-cases for AMB and creating value for all holders and users. We will also have burning mechanisms implemented post-hardcap with the goal of achieving a net-deflationary supply long-term.
- Lena shared that from the marketing side, we have been very busy. YouTube videos featuring AirDAO gained well over 70,000 views in the past week, with another video scheduled to drop in the next few days. A press release written in conjunction with our PR agency secured publication in Yahoo Finance and similar sites, helping us reach a broader financial audience. We also had a successful AMA in Crypto VIP Signal and another just yesterday with Turkish influencer group Kripto Tutlunkari. As for what’s coming up, we will be sending out another round of Twitter and Telegram promotions and working with YouTube creators to record more AirDAO-focused content. We will also be finalizing a podcast appearance for Lang as well as additional articles in Tier-1 media sources.
Some other items of note:
- We are continuing to work with MEXC’s tech team to integrate our AMB-NET blockchain with their exchange. This way, they will be able to list the AMB/USDT trading pair as they announced previously. Progress was slow initially, but we are communicating with them on a day-to-day basis to have this objective completed as soon as possible.
- The massive Token2049 crypto conference in Singapore has officially started, and both Lang and our financial analyst Rory have already been attending gatherings there and networking on AirDAO’s behalf. Token2049 offers an opportunity to interact with some of the biggest projects and names in the space, so we wish Lang and Rory the best as they continue fundraising and representing our brand on a global stage.
Closing this deal with a strategic partner like DWF and securing $2m in liquid capital is a massive step for AirDAO. Lang disclosed that we are a very popular investment opportunity right now among other VCs, but as he demonstrated, all negotiations will be undertaken with the community’s interests in mind. With that said, thank you for taking the time to read this recap, and we hope to see you tomorrow at 2pm CET for the next Town Hall!
