AllianceBlock Fundrs launches today on Avalanche and Ethereum networks, allowing users to manage their rALBT and get a preview of the first Seeker projects on the platform
We have recently announced that we have launched Fundrs on Mainnet! You can read about the launch in this article and check out Fundrs at this link. While you’re there, make sure to check out the first Seeker projects listing soon on Fundrs.
In the companion Mainnet launch article, we shared our vision for Fundrs and the journey we’ve had to launch our decentralized peer-to-peer capital-raising platform today. In this article, we will walk through what users can do on the current Mainnet release of Fundrs and give an update on our staged launch plan.
Key Highlights
- Fundrs is launching on Avalanche Mainnet today. Visit the platform at this link. You can also check out the pre-listed projects on the homepage or on ‘Funder > Active Proposals.’
- Fundrs is a fully-decentralized funding platform. This means that, unlike similar platforms, all functionalities on Fundrs are enabled by smart contracts.
- Stake ALBT to earn rALBT. rALBT is essential to participate in the first capital-raising rounds on Fundrs. Over 14.73M ALBT has been staked on the platform, and up to 12.96 iou-rALBT claimed. You can stake here. Pro-tip: Stake ALBT on Avalanche!
- We are also launching on Ethereum Mainnet. Users can exchange their iou-rALBT to rALBT and start claiming rALBT immediately from ALBT staking.
- This article discusses actions you can currently do on Mainnet: Staking ALBT to earn rALBT; Seeing the pre-listed Seeker projects; Claiming rALBT and exchanging iou-rALBT; bridging rALBT and purchasing tickets from mock projects on Testnet.
Actions on Mainnet
Our launch on Mainnet is a key milestone as we progress towards the objectives we’ve set out in our staged launch plan for Fundrs. As we’ve shared, our launch on Mainnet is an essential step in preparing for the official listing of the projects launching on Fundrs.
Staking ALBT to Earn rALBT
rALBT, the platform’s reputation token, is necessary to be able to participate in the first capital raising rounds on Fundrs. As reputation, this token is bound to the user’s wallet and cannot be transferred or traded.
Users can earn rALBT by performing actions on the platform, but by staking ALBT, users can earn rALBT passively and gain access to multipliers depending on the Staking Tier that they have unlocked. In addition, these Tiers offer additional benefits for users:
Since we launched ALBT Staking on Mainnet in January, over 14.73M ALBT has been staked on the platform, and users have been able to claim around 12.96M iou-rALBT. As we get closer to the listing of the first projects launching on Fundrs, this is a great time to stake ALBT and earn rALBT.
You can stake ALBT by going to ‘Funder > Portfolio’ and clicking on the ‘Stake ALBT’ button. We have repositioned these three key actions on the user’s dashboard to make them easier to access.
Users can provide the amount of ALBT they are staking or use the slider to determine the amount. Users can also see their current ALBT balance and the current stake amount.
When clicking on ‘Approve,’ users will first be asked to permit the spending of their token in a Metamask popup. Another Metamask popup will appear to confirm the staking of their ALBT in Fundrs. After the two Metamask approvals, the User Dashboard will be updated to reflect the current Staking Tier to which the user got access.
We are encouraging our users to stake on Avalanche Mainnet, where there are cheaper transaction fees. To bridge your ALBT tokens to Avalanche (and over eight supported networks), you can use the AllianceBlock Bridge.
We will discuss more the role of rALBT in the Fundrs ecosystem and the actions users can perform to earn it in upcoming articles.
Check out the pre-listed Seeker Projects
Users can already check out an updated list of pre-listed Seeker projects launching on Fundrs. Users can access it on the bottom part of the homepage or by navigating to ‘Funder > Active Proposals.’ We’ve worked extensively to attract the best projects to launch with us on the platform and are in constant consultation on their initial plans of action as they go along in their builder journeys.
Users can see pre-listed Seeker projects with a banner on their project card, alongside their project title and founder. Note that users cannot click on the cards yet to access complete project information. This will be enabled once the Seekers have officially listed on the platform, alongside in-depth information about their project and schedules of their capital raising rounds. You can read an article we published for our Testnet release to learn more about what potential Funders can expect to see.
Claiming rALBT and Exchanging iou-rALBT to rALBT
For users who have staked ALBT on Avalanche and Ethereum networks, they can exchange their iou-rALBT to rALBT in this Mainnet release. Users can navigate to ‘Funder > My Portfolio’ to access their User Dashboard. Two buttons are enabled there: ‘Claim rALBT’ and ‘Exchange iou-rALBT.’
First, users must add the Mainnet rALBT token to their wallets. Click on the ‘Add to Wallet’ button and add the rALBT token from the Metamask popup that appears.
For clarification, these are the token addresses for rALBT on Avalanche and Ethereum:
- Avalanche: 0xD5750209c816e498B36d360cD5e67184cAf79eAa
- Ethereum: 0x46a9459d34EaeEAb4E792E5238298d4e15261CA1
Once added, users can now see the rALBT they claimed or exchanged from iou-rALBT in their wallets.
To claim rALBT, click on ‘Claim rALBT,’ and a Metamask popup will appear to approve the transaction. Once approved, the tokens will appear in the user’s wallet.
To exchange iou-rALBT to rALBT, click on ‘Exchange iou-rALBT,’ and a Metamask popup will appear to approve the transaction.
Note that users need to pay for the gas fees on the network they are claiming or exchanging rALBT, so make sure to have enough ETH or AVAX when performing this transaction.
Bridging rALBT Between Supported Networks
After claiming or exchanging rALBT, users can also bridge rALBT between our supported networks. This means regardless of where they staked ALBT, the rALBT earned can be used to participate in the Seeker project listing on different networks. The networks Seeker projects will support depend entirely on them and their business.
To bridge, click on the ‘Bridge rALBT’ icon and select the network you are bridging to. When bridging, all rALBT in the current network will be transferred to the target network. In addition, users can only bridge between networks using the same wallet — rALBT earned for a specific wallet cannot be sent or bridged to another wallet.
Purchase Tickets from Mock Projects on Testnet
To let potential Funders familiarize themselves with the process of purchasing tickets from listed Seeker Projects, we are adding a new mock project on the Testnet with tickets that can be purchased with test tokens. The process will be the same for purchasing tickets on Mainnet, so to be prepared, test it out at least once on Testnet. For more information on how to participate on Testnet, you can read through our previous article on Getting Started on Testnet here.
An update on the Fundrs Staged Launch
With Fundrs live on Mainnet, we are progressing steadily on the milestones we’ve set in our Staged Launch. Similar to what we implemented for the DEX, doing a staged launch helps us ensure that we meet key milestones while communicating our progress with the community along the way.
With the first two steps of the launch plan already done (Testnet and Mainnet launch), let us outline the next milestones we are moving towards in the following weeks and months.
Listing of Projects
Users can already check out the pre-listed Seeker projects on Mainnet today, by checking them out on the homepage or navigating to ‘Funder > Active Proposals.’ Once the Seeker projects are officially listed, users can then click on the project cards to access project information, tokenomics, business model, team, schedule of capital raising rounds, target raise amounts, and vesting schedules.
We are working with our pre-listed Seeker projects to ensure a seamless listing on Fundrs, and in the meantime, you can check out their project websites to learn more about them. They will be sharing specific timelines as to when they list on Fundrs, their whitepaper, etc., so keep an eye out!
Mobile Support
We are still working on adding support for mobile users for the Fundrs platform. This will be coming in an upcoming release, and we will let the community know once it is live.
TIDV Integration
As we shared when we first outlined this plan, the integration of AllianceBlock Trustless IDentity Verification (TIDV), our trustless identity solution, is already underway. We are still in the final stages of testing TIDV, and its integration with Fundrs. This will be an important step before the first capital raising rounds by the pre-listed Seeker projects, as KYC will be mandatory for these rounds.
Private Sales and Presales
Once the pre-listed Seeker projects are officially listed on Fundrs, users can see the schedule of when the first Private Sale and Presale rounds will begin. When listed, potential Funders can already start to create or participate in discussions with the Seeker teams and vote on the project as they progress through their milestones.
Now you’re ready to get started on Fundrs. In our companion launch article, you can read about the journey we took and the vision we have for Fundrs. For questions and concerns, please join our Telegram channel, and we’ll make sure to help you out there. Stay tuned for more Fundrs announcements on our Telegram Announcement and Twitter channels.
About AllianceBlock
AllianceBlock is bridging the gap between decentralized and traditional finance by remedying issues in both spheres and linking them more closely. They see the future of finance as an integrated system in which the best of both worlds can work together to increase capital flows and technological innovation.
They are building this future by bridging traditional finance with compliant, data-driven access to new decentralized markets, DeFi projects and ecosystem-scaling tools such as funding and interoperability. As such, they are building a next-generation financial infrastructure that aims to provide regulated financial entities worldwide with the tools they need to access the DeFi space seamlessly.
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