AngelBlock Launches First Platform Raise, Gets Backing From Aleph Zero

FinanceFeeds Editorial Team

The decentralized crypto funding protocol AngelBlock is appealing to DeFi fans to take a good look at SOLA-X, the first project seeking to raise funding on its platform.

Somewhat ironically, AngelBlock announced SOLA-X just days before it revealed that it has received additional capital of its own via Aleph Zero’s Ecosystem Funding Program.

Those who aren’t familiar with AngelBlock yet might want to take a quick look, especially if they’re amenable to investing in some highly promising crypto startups. AngelBlock is a crypto fundraising protocol that’s aiming to democratize access to investing while simultaneously helping to ensure that those investments are safe. 

The concept of crowdfunding is not new to the crypto industry. In fact, it’s a fairly common way for projects to raise money. Rather than approach VCs, the decentralized nature of crypto and its token-based economics means startups can appeal directly to their community of users for funding, offering them early access to their native cryptocurrency tokens in return. But although there are many serious projects out there genuinely seeking funds to transform their idea into reality, there are also plenty of scammers around looking to take advantage of crypto community’s largesse. 

With that in mind, AngelBlock has come up with the idea of milestone-based payouts for projects. With its platform, projects can seek to raise any amount of money they like, however there is a caveat that prevents them from doing a “rugpull”, or taking the money and running. Instead of receiving investor’s funds upfront, they can only access those funds in a series of increments, when they make tangible progress. 

For projects that want to raise money through AngelBlock, they’re required to specify a number of milestones first, with measurable deliverables. Once they reach a milestone, they can then apply to their investors to unlock the next portion of their allotted capital. The investors then get to vote on that milestone, and if they’re not satisfied they can refuse access to those funds and insist that more work is done. In the meantime, the funds will sit securely inside a smart contract. 

It’s a very sensible approach that creates a much safer investing climate and the idea has already caught the attention of the Aleph Zero Foundation. Always seeking ways to expand its own ecosystem, Aleph Zero said it sees AngelBlock as the perfect fundraising vehicle for serious projects building on its own blockchain. To that end, it recently selected AngleBlock as the latest project to join its EFP, with access to both grant funding and its wider ecosystem of crypto projects and partners. 

Like other crypto fundraising protocols, it’s possible to get priority access on AngelBlock by staking the platform’s native token $THOL. For each project, investors will be split into “tiers” based on the amount of tokens they’re willing to stake, with the highest tier being institutional investors, followed by angel investors, value investors and standard investors. The higher the tier, the earlier the access and the bigger the ticket size they’ll enjoy. Still, it’s open to investors of all shapes and sizes, with those in the standard tier not required to stake anything. 

In case you’re wondering, SOLA-X is a cross-chain DeFi Hub that has created an interesting protocol-managed liquidity offering it claims will be able to resolve issues such as impermanent loss and low APY. 

AngelBlock has also announced the second project seeking to raise funds through its platform. It’s called DeltaPrime and it’s another DeFi-focused initiative designed to enable undercollateralized lending while providing overcollateralized protection to users. 

Read this next

Digital Assets

Bybit exits UK market ahead of regulatory changes

Bybit is suspending its cryptocurrency services for users in the United Kingdom due to impending regulations from the country’s Financial Conduct Authority (FCA).

Digital Assets

Binance argues SEC trampled authority set by Congress

Binance, Binance.US, and Changpeng Zhao have jointly filed to dismiss a lawsuit brought by the Securities and Exchange Commission (SEC) in June.


Oscar Asly replaces Rasha Gad as CEO of M4Markets Dubai

Seychelles-regulated brokerage firm M4Markets has secured a license from the Dubai Financial Services Authority (DFSA) after it has already incorporated its new subsidiary in the Dubai International Financial Center (DIFC).

Retail FX

Capital Index UK reports mitigated loss despite revenue drop

FCA-regulated brokerage firm Capital Index (UK) Limited has released its annual financial report for the year 2022.

Digital Assets

Mike Novogratz’s Galaxy Digital expands in Europe

Galaxy Digital, the New York-based cryptocurrency financial services company founded by Mike Novogratz, is expanding its presence in Europe by appointing Leon Marshall as its first European CEO.

Metaverse Gaming NFT

Turingum Partners with MarketAcross to Drive Web3 Adoption in Global and Japanese Markets

Global blockchain PR leader MarketAcross joins forces with Japanese Web3 specialist Turingum to mutually expand its market reach, aiming to fortify Turingum’s worldwide footprint and MarketAcross’s presence in the lucrative Japanese blockchain landscape.

Digital Assets

Binance to delist all stablecoins in Europe next year

During a public hearing with the European Banking Authority (EBA), an executive from Binance said that the exchange could ultimately delist stablecoins from its European platforms by June 30, 2024.

Industry News

“Unconscionable conduct”: ASIC fines National Australia Bank $2.1m for overcharging customers

NAB faces a $2.1 million penalty for unconscionable conduct, as the Federal Court rules the bank knowingly overcharged customers, and took over two years to rectify the situation.