Key points from Friday’s call and what we did over the past week.
Welcome Ambros to another edition of the weekly Town Hall recap! Wow, what a crazy week! As most of you likely noticed, the past several days were highlighted by Binance’s AMB/BUSD pair announcement and the crazy price action that followed. AMB hit over 2000 BTC in daily volume during this period of time, easily the highest total this year. This was also accompanied by a massive price increase, hitting nearly +300% at peak and currently holding at well over 100 sats. While this topic was definitely touched on during the Town Hall, there was a lot more to the discussion as well. With this being the last of these meetings prior to the September 15th launch of AirDAO, CEO Lang shared some new information on what we have planned regarding marketing, tokenomics, and more. So without further ado, let’s dive into it!
- Much of the marketing for our AirDAO launch push has been finalized and will be going public over the next week or two. We have secured videos with three large YouTube creators, one of whom we’ve worked with previously and provided great value and content for us. We have also signed deals to do promotion with multiple large Telegram channels, one of them having nearly half a million subscribers, and for Lang to participate in an AMA session in a channel of roughly 400,000 members. Additionally, we are working with several Twitter influencer accounts, a major crypto news website, and our PR company to create and share even more promotional material.
- As noted in the intro, this past week was the highest volume and most drastic price increase that AMB has had in years. Lang shared that the announcement from Binance of the AMB/BUSD trading pair was a surprise not only to the team, but to our Binance account manager as well. The fact that Binance gave us a BUSD pair for free, especially in the middle of a bear market, speaks to the confidence Binance has in our project and our ability to deliver. Along those lines, we were also surprised to learn that MEXC Global, a large exchange based out of Singapore, announced they were listing an AMB/USDT trading pair with zero cost to Ambrosus. This listing has been delayed slightly given that MEXC needs to integrate our native network, but our team is working with them to complete this. We will also be assisting them in providing liquidity for AMB/USDT to ensure a smooth and reliable trading experience.
- Lang was also able to share some new updates on our tokenomics, especially the token supply, and on his progress during this first month of fundraising. Due to the AMB price increase and our financial analyst Rory’s budgeting, we are halting token emissions intended for operational funds until at least November and possibly indefinitely (staking/block rewards will continue). A max supply/hardcap will also be implemented after the closure of our fundraising round, which has already seen a $1m+ soft-commitment as mentioned previously. All tokens sold to investors in this round will be subject to multi-year vesting and an initial cliff during which no tokens will be distributed. The goal is to secure 30 months minimum of operational capital (“runway”) so that we can ensure AirDAO is sustainable long-term regardless of market conditions. All other funding will go towards creating new use-cases, products, and value for our community. We will also be exploring deflationary mechanisms for AMB at both the protocol and feature level.
Some other items of note:
- We were joined today on the call by Ambrosus CTO Igor Stadnyk, who gave some useful information on how to read and interpret the data on the Ambrosus Network Explorer. The explorer is an incredibly useful tool given that it draws its data directly from the blockchain in real time. Igor also did a great job explaining how there are many, many factors that go into determining the price action of a given token, and was able to disclose exactly how much time and effort was behind getting this BUSD pair for AMB — a testament to the drastic changes and improvements Lang has made at Ambrosus in his six months as CEO.
- Next week Lang will be in Paris attending Binance’s Blockchain Week event, so if any community members happen to also be visiting or are in the area, feel free to stop by and say hello! Towards the end of September, Lang will also be travelling to Singapore for Token49, where he will be meeting with the Binance team and possibly MEXC as well.
Three more days, Ambros. Less than 72 hours until the public launch of AirDAO and our first wave of products. We’re beyond excited about the events of the past couple weeks, and equally so to share this milestone with all of you. As we’ve noted before, this launch is the gateway to tons of amazing opportunities for the community and our ecosystem as a whole, and we will be working just as hard as ever to continue building and to deliver on our promises. By this time next week, AirDAO will officially be live. So until next time, take care Ambros and enjoy the launch!
