AllianceBlock Fundrs launches today on Avalanche and Ethereum networks, paving the way for our vision of a decentralized participatory economy
We are extremely proud to share with you that we have launched Fundrs on Mainnet today!
Fundrs is the result of years of work, beginning with our vision in 2018 of a decentralized participatory economy enabled by a fully-decentralized peer-to-peer funding platform based on reputation and merit, where Funder Communities are part of the Seeker’s whole project lifecycle; and is built on the principles of fairness, transparency, inclusivity and participation. Along the way, we have learned many important lessons in our journey in the blockchain industry, most of which are incorporated into the release we are celebrating today. You can check it out here.
Key Highlights
- Fundrs is launching on Avalanche Mainnet today. Visit the platform at this link.
- Fundrs is a fully-decentralized funding platform. This means that, unlike similar platforms, all functionalities on Fundrs are enabled by smart contracts.
- Check out the pre-listed projects on the homepage or on ‘Funder > Active Proposals.’
- 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.
- We have also published a companion launch article to get you up to speed on what you can do on Fundrs Mainnet. Read it here.
In this initial Mainnet release, we will be supporting the Avalanche and Ethereum Mainnet networks. Support for the BNB Smart Chain, Polygon and Moonbeam networks will be added at a later point in our Staged Launch. For more information, there is a companion launch article to this blog, which details what users can do on Mainnet with this current release and an update on our staged launch plan.
What we’ve done so far
Let’s briefly walk through the progress we’ve made over the past year to get where we are today. In December 2021, we launched the first Testnet release of Fundrs on five major blockchain networks — Ethereum (Rinkeby), Polygon (Mumbai), Avalanche (Fuji), BNB Smart Chain, and Polkadot’s Moonbeam (Moonbase Alpha). This was followed shortly by the launch of ALBT Staking on Mainnet in January 2022 to earn rALBT, the platform’s reputation and governance token.
In March 2022, we deployed the full end-to-end platform on Testnet, allowing Seekers to test out submitting an application for listing and for Funders to participate in capital-raising rounds utilizing the decentralized lottery system. And the latest, in June 2022, we released an update on Testnet for the new Fundrs UI and experience and introduced two additional modes for capital raising — private sales and presales.
As the market has recently entered a bear cycle, we have emphasized why bear market times are the best for building, encouraging blockchain projects and developers to take advantage of current conditions to focus on their business fundamentals and product development. We also have detailed how participatory funding creates not only strong communities but also promotes sustainable growth for builders and communities even during these times.
Today, we are beginning with a new chapter not just for Fundrs but for AllianceBlock. Along the way, we have built the necessary infrastructure that not only enabled us to pursue our vision for Fundrs but also let us offer these solutions to empower blockchain projects and developers at every step of their journey.
Our solution to quickly create and deploy liquidity mining and staking campaigns led to the DeFi Terminal. To enable moving tokens over different networks with a fully decentralized solution, we have built the Bridge. To mitigate the impermanent loss, crucial for liquidity providers (and traditional financial markets), we have researched, developed and released a whitepaper around a new automated market-maker that powers our DEX. To help projects quickly implement KYC into their platforms, we have developed Trustless IDentity Verification (TIDV), which also allows for a wider audience of capital providers from crypto and traditional markets.
Fundrs launched AllianceBlock’s vision, and now on its release, it is part of our renewed vision to create an end-to-end development infrastructure for blockchain builders and facilitate a seamless gateway from Traditional to Decentralized Finance.
What we envision
In an article published in Nasdaq, our CEO and Co-Founder, Rachid Ajaja expressed what the vision for Fundrs is — more than just broadening access to capital, but an important step towards a new participatory economy that is founded on collective intelligence.
“In all, embracing this new form of funding is not just an effort to broaden access to capital. It is a step on the way toward a new, democratized, participatory economy that is fair, transparent and inclusive, where the ideals of the many are reflected rather than the ideals of those with access to immense wealth, gleaning the benefits of collective input along the way.” — Rachid Ajaja · Creating A Fairer Startup Investment Ecosystem
Fundrs is an important piece of our infrastructure, providing opportunities for Seekers (builders raising capital) to involve Funders (capital providers) early in the building and development of their projects and play key roles in helping the builders succeed. In recent years, we have seen accelerated growth of the blockchain industry, driven by increased exposure to and participation by a wider base of consumers, in turn driving more builders to get started in the space.
The blockchain industry is founded on the principle of putting power in the hands of those who interact and benefit the ecosystem. With the arrival of more builders in the space, we have seen different kinds of funding and raising capital, in some ways mimicking traditional models and aggregating towards centralized consensus-building.
What we have learned, however, is that increased decentralization and cultivating a strong community make for a more sustainable way to grow business and influence product development. This does not only ensure that the builder and their business thrive but also, equally as important, the community that surrounds them and the users of their products.
Fundrs, by enabling this coming together in the early stages of Seeker’s journey, paves the way for a more sustainable growth that benefits them and their Funders. Seekers have a set of decentralized methods and tools for funding and raising capital and gain access to Funders who can advise and help shape their product and business development. In turn, Funders can provide not only capital but also their expertise, knowledge and skills to help ensure the success of their project.
Fundrs is also built to be a fully-decentralized peer-to-peer funding platform. This means that, unlike similar platforms, all functionalities in the application are enabled by smart contracts and interact with the blockchain. The capital raising rounds, including Private Sales, Presales and Decentralized Lotteries, are designed to be transparent and fair. And with its design to actively promote the interaction of both Seekers and Funders across all sectors of experience, skill, and knowledge, it is inclusive and participatory.
“[Fundrs] enables a new start-up-as-a-service model, which enables capital providers to become an incredibly important part of the lifecycle of any project, giving them an opportunity to play a role in the funding, advising, marketing, and operation of any project. By inviting more participants into the process of finding, funding, verifying and adding value to young ventures, the business model of these young ventures can be reinforced, and their potential improved. It is a return to the foundational primitives of DeFi; putting the money and the power in the hands of all those who interact with and benefit the ecosystem.” — Rachid Ajaja · Creating A Fairer Startup Investment Ecosystem
What’s next
We are incredibly excited and delighted to launch Fundrs on Mainnet today! This is just the beginning, however, and as we have detailed in our staged launch, there will be more upcoming milestones we are working towards completing and deploying.
We are also reminding everyone that to be best prepared for when the first Seeker projects on Fundrs are launching their capital-raising rounds, users should stake ALBT to earn rALBT on Mainnet.
To date, over 14.73M ALBT has been staked on the platform, and users have been able to claim over 12.96M iou-rALBT. To stake ALBT, navigate to ‘Funder > Staking and Reputation’ or click on the link here.
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.
Now you’re ready to get started on Fundrs. In our getting started article, you can read about what you can do on Fundrs on Mainnet today. 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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