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Synthetis Grants CouncilSynthetis Grants Councilby0x1D33137bdb10c861b5059f4B9b7F9141cfeE20190x1D33…2019

ALGOBLOCKS, The DeFi Gateway.

Voting ended over 4 years agoFailed
  • Overview and values. AlgoBlocks enables anyone to create and automate trades using defi products without knowing any code. In that context, Synthetix will be servicing our derivatives-related functionalities.

  • Current partners:

  • polygon

  • Centralized exchange listing agreement with MEXC - leading cryptoexchange in Asia. MEXC has 4 Million registered users and over 100K daily active users that AlgoBlocks can leverage to promote the platform.

  • Strategic partnership with Alpha Impacts a copy trading platform for crypto users. It's the e-toro for Crypto. Their customer target base is an ideal captive target for customer acquisition. This startup raised over USD 3 Mil and is backed by Antler. They also have a captive base of 3000 users that we can also tap into

  • Applicant Background Combined over 23 years of experience in banking, crypto, investments, and capital markets technology.

    CEO: Joseph Kim Background: BC Group, OSL, Goldman Sachs backed PE Fund, Citigroup, Ex-Antler Singapore Entrepreneur in Residence

    CTO: Kareem, ELSHAHAWE Background: SocGen, Datum, Investlab, PaloIT

  • Implementation Plan:

    • UI UX Design for the MVP - Q3 2021
    • MVP Launch - Q4 2021
    • Web3 Wallet Integration - Q4 2021
    • Launch Testnet - Q4 2021
    • Main launch AlgoBlocks - Q1 2022 (ver 1.0.0)
    • API (Closed beta testing) - Q2 2022
    • Product Extensions and institutional white label product - Q3 - Q4 2021
  • Additional information:

    • https://docsend.com/view/ng82zytfma54pjzm //Product pitch deck
    • https://www.algoblocks.io/
    • https://github.com/ALGOBLOCKS
    • https://www.linkedin.com/company/algoblockstrade/
    • https://t.me/algoblocks
    • https://twitter.com/algoblockstrade
  • Funding Required:

    • Each stage would require a different amount of funding but on average, there will be a period of 2 months between key milestones. We would need 130 - 160K USD per milestone which is equivalent to our average burn rate, most of which is used for product development

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Timeline

Oct 25, 2021Proposal created
Oct 25, 2021Proposal vote started
Nov 01, 2021Proposal vote ended
Oct 26, 2023Proposal updated