The LST for DeFi
Dear Investor,
We need to maintain our work pace, especially after the successful fundraising for ReadyGames.
When ETH and alt tokens, along with the ETF, catch up, the market dynamics will change, particularly in the pre-sale market.
Major projects are gearing up for launch in the first and second quarters of the coming year. This suggests that the window for securing projects of similar scale will soon close. We foresee the possibility of adding a maximum of 3-5 more projects. As we head into the second and third quarters of 2024, during a bullish market phase, accessing promising projects with strong backers will prove difficult, as these ventures would have already been launched.
Swell
Swell Labs was formed to build a liquid staking protocol to provide the holders of Ethereum (ETH) the means to earn yield through staking without the constraint of locking up capital.
With Swell, users are able to earn passive income by staking ETH to earn blockchain rewards and in return be provided with a yield bearing liquid staking token (LST) to hold or participate in the wider DeFi ecosystem to earn additional yield.
Backed by key angel investors and VC's
The title reveals that Mark Cuban is a major investor in this project. This is a big deal because he's a well-known figure in the industry. Mark Cuban is careful with his investments, and he only puts money into things he understands and considers low-risk. His success in recent years, particularly with his Shark Tank investments, shows that he knows how to pick winners.
Despite the project appearing complex at first, the technology behind it is simple and has impressed even the biggest investors, leading to its high valuation. It's noteworthy that the marketing efforts are currently at 10% of what they plan to do with Mark Cuban on board. This suggests that there are larger plans and announcements in the pipeline.
The project has gained a following and hype among hardcore crypto users without much marketing. With Mark Cuban's support, they aim to expand to everyday investors, potentially partnering with SeaShell. This indicates that there's more growth and potential ahead.
Vitalik Buterin's View on Non-Custodial Staking
Vitalik Buterin strongly supports this solution because his main goal is to stake and optimize Ethereum (ETH). He encourages everyone to adopt a similar approach if they can lock a substantial amount of capital in Total Value Locked (TVL), similar to what Swell achieved in the last two years. This is expected to become a significant part of the next cycle's hype, and there will likely be numerous tweets discussing it.
Market-Cap Scale Plan with Proof Results:
Currently, the project's valuation stands at $75 million Fully Diluted Value (FDV) with $110 million in Total Value Locked (TVL). Their pitch deck outlines a clear strategy to reach $500 million to $1 billion by Q1-Q3 of 2024. This ambitious goal suggests a potential market cap of at least $250 million, which is 3 times lower than the entry price considering the valuation as 50% of staked TVL, based on the current figures of $110-$120 million staked and a $75 million FDV valuation.
Moreover, the project is community-driven, featuring a fully developed Decentralized Autonomous Organization (DAO) and boasting over 14 million stakeholders from the whitelist, even before the official launch of the project.
our deal
Valuation: $75 million FDV
Linear daily vesting over 18 months after TGE
Token launch: Q1-Q2 2024
STABLE COIN: USDT,USDC (BEP20 ONLY)
ALLOCATION: $100k (up to 150k)
MIN: 500$
MAX: 6000$ (Aphx Club member max - 30k)
Fee: 19%
