Strategies and Tools to Grow your Crypto Startup | AngelBlock

hello to everyone good evening to some of you good morning hello hello I will ask you to put your put yourself on mute I think some of you are not a mute now because you know how it is when there is many people in the room um but welcome everyone nice to see you we have a very exciting session in front of us with Angel block um before we dig into the session with Angel block I'm gonna say a few words again welcome to everybody I think we have someone people waiting in the waiting room okay Daniel is controlling it oh guys please put yourself on mute hello hello please put yourself on YouTube okay so welcome to the session today with Angel block I'm Victoria Gago co-founder of European blockchain convention and European tech school amazing to see you all here I'm not I'm not gonna try to share my screen just to tell you a few words about European blockchain convention very much many of you already know us but we are currently actually working on our ninth edition of European blockchain intervention um we're one of the oldest events in the industry oldest in Europe as well um so I think this is good to have a long track record in the space is very important again guys please go on mute someone is not muted right now can we control that I think so right who is not muted right now please please everyone go on mute okay so yes as I said we are currently working on Ninth edition of European blocking convention um I know many of you have already attended our past events hello hello yeah okay fantastic okay just a few more more words about EBC so next Edition is in late October as you can see here 24 to 26. and it's going to be actually the largest blockchain event in Europe in the second half of this year so we are as you can probably imagine attracting a very different audience in the space so there is space for everybody will be more than 5 000 people in this Edition 300 speakers and 200 sponsors and exhibitors so yeah you shouldn't be missing out just to scroll a little bit down and show you some of our speakers I think we have a great already set up of speakers also we have the CEO of Angel block Alex speaking there he is but that's fantastic Angel block was also part of our last event Alex was there so that was fantastic but yeah overall it's a very mixed audience it's everything from Pure D5 players to very institutional players um all there to discuss basically all their opportunities and all the problems we have in the space because of course when we talk about Innovation it's not it's not pure uh I would say opportunities it's actually very bumpy road but today we have a very exciting session in front of us um it's with Angel block Angel block is a very very cool platform where early stage startups can raise funds and I think also on the other side which is important also it's that investors can actually invest in these startups through the platform but today we're going to focus not so much on investors but actually I think as far as I know on on the startups and also like on on how basically you can grow your business when you're an early stage startup in the space how to raise funds and also I think they're going to talk about um a grant program they have so this is very exciting just one thing maybe it would be nice to understand from you guys what your expectations are I mean from the point of view that you are some of you may be an early stage startup or think about launching a project into space what are your expectations for this event what would you like to understand better when it comes to to raising funds in the space to basically bring your business to the next to Next Level so just if you have anything to add in the chat box write a few notes so also now I would like to present the two speakers of today which is Marcin and Marcin yes fantastic to have two margins in the in this studio um so we have Chief product Chief product um Chief product officer and CTO so please take the stage and I'll be here also helping a little bit with the questions at the end of the session so also please keep some exciting questions um for this session but you can also share them throughout the whole session so thanks Victoria so I'll I'll be taking over so guys I see uh some activity on the chat today in front of us we have uh we we've prepared very juicy uh juicy session uh filled with content lots of theory but also practical implications uh industry examples from blockchain but also other well-known startups and uh we'll be talking uh in reference to the angel block itself so uh please ask um as Victoria mentioned right on the chat your expectations what do you want to learn I will try to I won't be able to address them all uh but I'll try to highlight some of them um and stay focused uh throughout the session it's gonna be 45 minutes and then 15 minutes to answer your questions at the end um so yeah take your take your pencils they make notes um highlight what was specially interesting for you at the end I will give you some links uh in refer to to refer um uh some materials and theories um I will describe during the session so you can dig deeper uh but yeah stay focused just to benefit uh the most from from this um from this session so uh safe seeds prefer registration investment word type Etc okay we have also already some examples so um one more one more comment from me uh this session will be mostly focused on the product um product growth and startup growth so I'll be talking most of the time uh matching our CTO will take over in some more technical examples where Tech goes hand in hand with product development but also he's here to answer your more technical questions so um yeah give me a thumbs up if you're ready to start on the chat uh and I will be sharing the screen in a second perfect all right so today's session topic uh our effective strategies and tools to grow your crypto startup um and what's going to be covered within this session so first uh finding a right problem to solve for your users to ensure a good product Market fit then how to get your first hundred and first and thousand and first user and why you should focus on those numbers and not the millionth user how to reach the flywheel effect within your network within your product um that will that will lift your product and ensure constant growth how to optimize back's best ux delivery that's really important in in all the products uh considering the quality of startups and applications that already exist on the market and you want to compete to and how to ensure feedback driven iterations in web3 those are all the topics we're going to cover today so a few words about us so I'm a chief product officer and I'm working as an advisor first and full time with Angel block uh for over a year now I've been working with Silicon Valley startup um unity and before that advising um as a product manager uh scrum Master advising many startups from crypto space as a member of 10 clouds Software House and marching has even more impressive experience margin thank you Martin so my name is also Martin I'm the co-founder of the city of Angel blocks and in past I was also contributing to 10 clouds a smart team so I was head of blockchain there I created whole team from scratch I worked a lot on education for fresh software Engineers I was hiring and growing the team and with most prominent members ex-10 clouders I like get involved into Angel block and created whole team there thanks a lot for the introduction so let's dive into a first topic so find a right problem to solve so I'm sure many of you already heard that the the critical point in growing and starting your startup is actually um to find uh right product Market fit uh so to ensure that your product solves a problem of a certain groups of users and there are multiple Inspirations where you can um and ways how you can find an inspiration for an idea I'll share just some of them um with you right now so first find successful startups on an early stage and really good source for that is platformacquire.com that's basically a Marketplace I think there are multiple uh like that but there this is a leading Marketplace for different startups so you can apply filters uh uh select gross revenue expected gross revenue expected net profit and then startup type including crypto as a category and then see which what type of startups already um achieved success and are are ready to be sold so basically I assume when you grow your startup that's that's actually a goal that you want to achieve and then you can dive deeper uh so you can check what's what alternatives are on the market what problems are they solving um what you can do better um and by doing better I mean that you don't have to be very innovative uh it's actually good to have a competition on the market that you can learn from learn from their examples and this is why we are constantly watching the biggest brands uh on the market like uni swap labs and metamask and watching what they are developing either to use their Solutions or to make something better to get inspired by them so recent findings from their blogs uni swap recently launched Mobile Wallet um improved swapping experience with widgets so if your platform uh will allow for trading then you can easily Implement widget from uni swap or improve your widgets router across V2 and V3 liquidity um to ensure the lowest price permit to that's a really interesting Library improving um ux user experience with allowance across the applications and also uni swap in upcoming years probably will release V4 liquidity pool um improving even gains from for liquidity providers but also for bias on metamask metamask is working on account abstraction ethereum staking Bridges or buying crypto using credit cards including integration with well-known Brands like PayPal Angel block case so what are we trying to solve here on the market so Angel block is a platform for investment for early startups investment especially in blockchain space exclusively in blockchain space for startups that are trying to raise money through their initial coin offering or similar Financial tools and the problem for the investors is that while potential gains are High um reaching 100 400x then risk is also proportionally high so there are lots of scams on the market rack pools so just after the race so examples were just after the race um startups withdraw from the markets taking taking money away from the investors and never delivering um actual utility for the token meaning that when investors receive the token it was worthless so how are we trying to solve this problem so first startups Gathering money on our platform as with every race they do announce the road map with Milestones included then they proceed with fundraise but fund but budget is split into in between milestones so when the fundrise is successful and Milestones are reached then investors are entitled for voting so if the Voting is successful so investors do approve Milestone delivery then the budget is released to the startup same with the second tranche but if for some reason investors are not satisfied with the Milestone delivery then the project is canceled and the money goes back to investors also we do have a mechanism that if startup has a token released earlier then Milestones can be combined with token releases that's not on the gallery but there is also mechanism for that so it's like a management system for investors to participate in startup growth and delivery um what's unique with this example is that everything is sued within our smart contract so those mechanisms are confirmed on the smart contracts during the race so my personal take uh on what are the biggest problems in web3 right now maybe some of you will get inspired by that and will try to build a product um to solve those problems is first cross chain integration uh we have silos right now lots of silos buildings separately multiple Solutions um intuitive user experience that's critical to reach Mass adoption then three key storage and wallets management and uh closely related trust and regulations as you know as you as we are all were affected right now the trust is is low and um regulations are missing so whoever can follow the recent regulations will win this Market all right so next topic how to scale the network so assuming that you have your idea um and most of the ideas within the blockchain space will be type of a network so how to identify the network so you have so first within the network you have many interactive parties um so and usually there is a hard side and soft side of the network so resources providers and receivers so uh which means that um the so for instance why why is it so crucial so just imagine Facebook on its early days uh without posts being created and imagine that you log into an empty system to an empty uh social network and you see no posts to interact with then it's simply going to turn so this is critical for networks to ensure balance in between those both sides um and that's the first stage of network growth up to up to reaching the Tipping Point so this is called cold start usually then once you have a Tipping Point so you have enough interactions then the network will grow on its own um mostly not hundred percent you still must Ensure uh new users flow or somehow incentivize them to interact within your network to grow it uh but since you reach a Tipping Point then you have an optimal number of interactions so then there is escape velocity period and until you reach the ceiling and the ceiling can be critical for you it can be either infrastructure limitations uh or or you basically depleted your go to group so your potential users and then the question is if you're gonna still find a new market to grow or you will reach the plateau or decline I'm referring here to a cold start framework written by Andrew Chan one of the uh prominent Partners in a16z um so really recommend I really recommend his book let's move further so that's why um and in that book you can find few tips on how to reach your first hundred and first and cousin first user how to ensure that your network won't decline but first uh to uh to make sure that we all understand what are the implications so let's try to identify hard versus soft side in many well-known Brands so YouTube right on the chat what do you think who is the um who who's the hard side on YouTube I'm trying to see the chat now you guys see any answers I don't see any yeah yeah there's several questions I mean we can take them afterwards one one was just asking quickly what was the name of the book again out that will be in resources but is there any answer trying to guess who's the hard side in YouTube we get content makers content content creators yes exactly and that's why YouTube is so much focused on incentivizing and providing tools for movies upload movies editing and then um then earning on the content because uh without the content on YouTube you obviously uh won't have any users there then Uber uh who's the hard side there cars drivers the drivers yeah exactly drivers cars and Bitcoin beat in Bitcoin Network actually we can uh look at this from two different angles and first would be uh Bitcoin Network on its own and the second is Bitcoin as a currency so indeed what Bitcoin Network who's the hard side Dan's gonna I'm I'm guessing that you guessed well it's validators and note providers uh while in uh when we think about currency and this is very important for every token that you're going to release to the market dogs are obviously buyers um or liquidity providers so um so here we're talking about interactions in between two sides obviously one person and one user can be on both ends of this equation uh depending on the day or different market conditions but it's really important to identify those sides and incentivize hard side at first second clue on how to scale your network is to focus on Atomic networks and first example I'm going to give you is Tinder so Tinder at the beginning started at University of South California just focusing on one single University to improve their product then they scale to other colleges college campuses reaching entire La District at some point and then obviously countries and Global dominance so and that's the second point so you don't build your product for everyone at the beginning try to think about Atomic networks where you can Implement your product and another example is something I'm sure you you are all familiar with is slack slack uh by the way as some of you know uh started as an internal tool and then was um transferred to other other Silicon Valley startups as an internal communication tool so basically as you know slack as a communication as an internal communication tool is focusing only on Atomic networks right so it's from company to company not across and um this is um this is very um useful model and then the third example and Theory I'm gonna refer to and that works on the early stage startup but also in other stages that's that will be product LED growth and product LED growth promoted mostly by Elena Verna so good example on how it works it's it's made of middle um as a collaboration tool so for those who are using middle uh there is a free free access up to a few projects so whenever you want to make an interactive workshop and engage some of your participants uh on site or especially remote then you can create a mirror board invite them for collaboration but whenever they will want to organize something similar that will create their own account and invite their friends uh or colleagues work colleagues so basically it's like a vampire mode where product itself drives development so people inviting people and the simplest example of that is obviously word of mouth so any referral system paid referral system um so that's also part of their product LED Pro so second tip is consider what type of vampirism you can have in your network a bit more to that so uh product LED growth is third pillar to add on top of marketing lead and sales lab you cannot live without it um so you have to build your marketing team you have to build your sales on top of that you can have product uh product LED growth and the difference is in uh in acquisition monetization and retention so let's focus on sales lab so basically for acquisition sales outbounds for new buyers goes for conferences reaches for new contacts Etc monetization that's closing the contracts that all that that is onboarding a new customer and retention is presenting value so it's like customer success departments Etc while in product in comparison so acquisition its users acquiring new users so in the referral system if I have a satisfied user then I can prompt this user at some point do you want to get a reward do you wish to recommend this product to another user or as a mirror example that's basically the core of the product itself monetization so Drive self-serve purchase um so after when I'm satisfied user I want to use mirror more I want to create more projects invite more people then I reach a free tier barrier and at some point I need to purchase the product and retention user triggers more user usage triggers more usage and again Angel block case so first hard side our hard side are obviously valuable startups promising startups that will bring benefits to the investors and that's why right now our startup grant program uh Volume 2 is live you can go to angelblog.io for startups Tab and then apply for a grant program you can find more details there and through Grant programs and other sources we already have two promising startups listed installer X which race starts next week and Delta Prime uh which will raise funds throughout our platform in following months um so I highly recommend to look at them and what's interesting so that's one of the that's one of the uh Notions factors we consider when deciding if to onboard project so basically if project has a supporting community because when they bring Community to Angel block to invest in their token through Angel block some of them will stay with us we'll support Angel block will invest in further races and how to build a community so I said focus on the hard side but obviously the one doesn't go without the other so you still must build um your soft side so investors supporting Community Etc in in Angel block case and a good example obviously we do have an active Tweeter accounts uh Discord channels where we constantly respond to our to our community questions uh an interesting tool within web3 is zilli and I'm gonna I will try to show it to you right now uh so this is really Angel block account and users will have after connecting the wallet so registering to zeli a user can complete challenges and we have challenges like follow us on Twitter join us on telegram subscribe to our newsletter or announce share with your community uh our first race with Sola X and then um then after each Sprint uh I think we are within first Sprint right now so um winners of the Sprint will get a reward so it can be airdrop it can be nft it can be our token or any reward that you have at your disposal so let's move on to the next topic and I'll just restart the presentation so the next is okay so you have you have your idea you know how to grow your strategic strategically how to draw your network focusing on hard side and soft side so now you need to deliver the product and this is um this is critical especially in web3 space because uh ux is uh very much limited and dictated by technology and Technology at the beginning from the beginning was not very intuitive to an average user so whoever has better ux wins on this Market the problem is that obviously sometimes past user experience requires lots of development so the question is how to achieve and deliver best possible ux in timely manner and I'm going to share with you a very simple tip that we're using internally in Angel block which is called Product Triad collaboration so basically it's a close collaboration that's before any development just to be clear so before the Sprint starts in it's it's the que it's to answer the question how we actually prepare items for development so we obviously have an idea of a feature that comes from our community feedback our strategy um our research Etc your any business needs um and then we consider if and how to develop it in a best possible way so we have multiple sites collaborating closely together uh product must be represented and product answers the question what is the problem why should we solve it how should we uh how should we measure it and what's the priority so typical product owner responsibilities uh also product delivers their site of a research so like competitors Solutions Etc design design things about best possible user experience usually working in figma prototypes but also with the research to validate initial ideas and Engineering represented here by marching but we also do have front-end Engineers participating in this process directly they do things on what technology use so what's available on the market what's the implementation or what is the technology requirement um to achieve this feature so this is responsibility split um and how we do this in practice that's trivial uh guys so first product defines the problem and yes obviously I'm using kiraticus to describe it and then design then we have a meeting uh it's a weekly meeting when we discuss new problems so week by week design prepares uh design in figma which we then discuss and Engineering provides constant feedback regarding feasibility and Technical requirements and also recently that's not limited to those three roles if you need to add someone because of your um business specifics then you can add someone so recently we started inviting legal Representatives just to have a instant feedback uh if we are aligned with regulations with all the features that we plan and tools that we're using it's as mentioned jira figma it's a weekly meeting and additional research conducted by uh Discovery team members and and product Triad or fourth already in in our case right so now the research how to conduct the provide research so we have an idea how to validate if the idea fits well the market um obviously it's wide topic about the tools that for instance we've been using like uh question areas to our community and by the way it's it's very beneficial to have a community because you can instantly ask a question to to them and get an instant response within 24 hours using simple Google forms or we've been doing we've been conducting [Music] qualitative studies as well so focus groups or interviews based on clickable prototypes to ensure that the the flow is seamless and there are no obstacles along the way uh I'll just link um in in referee in referrals a good website summarizing variety of tools I wanted to mention one which leads me to more technical part so feedback so once the feature is developed we don't stop there obviously we do have we will receive their very active community members so we will receive feedback on telegram sometimes positive sometimes really negative but also we do use tracking tools uh so there are a few tracking tools the screenshots I'm showing uh come from Smart look but there are a few competitors on the market like full story hot jar uh whatever you prefer so those are flows like user flows through the application to see what is their general movement throughout your applications so high level picture uh summarizing and all and you can analyze it from the beginning so from the left side or from the end so how people get to a sub page that you want you wanted to lead them to it can be also obviously based on events uh Second Step are obviously predefined funnels um so like a sales funnel whatever you want to Define and then you can measure drop-off on every step and obviously churn analysis are critical in this case because we want to make the funnel as effective as possible so then for every funnel and selected group you have session recordings with obviously anonymized data but you can see where user gets stuck and then conclude what is the obstacle on the way to improve user experience so those are frequently simple changes afterwards but also analysis where the good tool implemented is travel guys so I I highly recommend once you have a working product to implement one of those tools and whenever you need um whenever you need deep feedback you just go to the tool Analyze That and create new improvements for your product so uh but yeah iterative approach is an issue uh especially in web 3 world because once you deploy smart contracts to the mainnet then there is no way back at least unless you upgrade everyone but there are a few solutions to that we use uh progress something we call Progressive decentralization with two uh with two solutions here this is more technical so matching will tell you more details Thanks Martin and welcome to my small tacky corner here on this presentation so I'll basically add two tips from us when you want to like build a web free product what might be helpful so obviously creating something fully decentralized from the start is a quite of the challenge and might not be that is easy easy task especially because like you when you build your product for for the first time sometimes you might make something Innovative that was not yet proven it might miss some tests with users and feedback and we all believe that like the journey on the startup is available link from from each month further and our like answer here is go for Progressive decentralization one of the reasons could also be that ecosystem is still growing and is very young and it's funny story but at the at the beginning we were even more decentralized that we are right now it's because we need to gave up some tools because they were not quite quite much nature and and enough for us and not that SEC it's a cure but in general is the concept that you start with partially being centralized and over the time when you gather the experience when you build the skill set you are crafting this framework with web free and and basically decentralizing it so like one of the ideas here how we tackle that could be that for example our long-term vision is to build fully decentralized protocol for both startups and investors and yet at this early stage where we are yet uh we tend to perform manual conversation or startup at this stage we are building the framework we are like collecting all the scenarios Gathering all the feedback to gather the experience and to build out the like necessary steps to automate it in future and to more more decent in introduce a row of validators who participate in our Pro protocol and one of the tips which I can give you uh one of the tips which I can give you is like the pattern of the diamond proxy uh it's quite I would say a specific opinionated and advanced pattern but um it allows you to introduce a smart contract which can evolve over the time at features modify them or even remove and at the point of the time when you are completely satisfied with the uh with the shape of your application you can transition it to something called complete Diamond that you are taking out the functionality of upgrades and they are no longer there and and anymore and your smart smart smart contract is fine now and this can happen over the course of the years when you're adding more and more features because I believe that you cannot create something huge like Google from the day Zero like you it needs to to like happen over the time and you might choose different strategies here that's one which we use for us in internally it's a little bit tech savvy but I'll maybe cover that when I have more time I will not try to break this presentation into switching to Tech right now so going back to your match key thanks all right so that's actually the end of the presentation but I promised you to give you some more links to uh other other sources where you can expand each and every topic I was talking about so feel free to make a screenshot for those who are asking about uh the cold stock problem and other theories it's much more than that so I highly recommend reaching to those sources and yeah also let's stay in touch so I'm gonna keep the screen but now it's a time for our q a yes thank you very much Marcin Marcin for the presentation and also congratulations for for this project Angel block because I think it's very necessary now I know even more about it so that's great no but I mean I mean it's definitely a huge issue that that we've had so many scams in the space right and and then at the end of the day to be honest when I got into the space in late 2016 early 2017 one of the things I was very like oh wow that's fascinated about was like okay I think with this technology we can now distribute New Wealth in a better way because at that time I was working in a private Equity Fund and I was like it's unfair that only like big institutional investors can get into these private projects for private companies so it's like blockchain is a tool for that but then of course what we've seen is it is a tool I mean to be able to invest in in private projects companies but probably there is a need for exactly what you're building to kind of like give much more feedback on the projects and and also based on that then you issue the payments and and also give feedback so I think yeah really cool really cool but we have questions for you guys so um I've tried to take them out throughout the session so I'll start asking some questions um from the audience I don't know should I start from the beginning or from the end okay I'll start a little bit from the end and then we can go up okay so um first of all in terms of the Investments other investment restrictions such as a minimum investment amount is it possible to decide the minimum token purchase yes so for the startup obviously it's uh it is critical um for their tokenomics and roadmap to establish the budget right because uh that's what we give for other side which is a startup if you have successfully fulfilled your fundrise then you can somehow plan your budget from them from Milestone to the Milestone and if you'll be delivering Milestones then obviously you'll get the budget um so that's the assumption but uh first uh we uh so there is a minimal amount that startup usually needs to raise to be able to start operations so we call it soft cap if soft cap is not reached then all the money goes back to investors can be reclaimed how much is that what does it does it depend on you that depends on the startup we leave complete freedom to the startups and allow them to to decide there can be no soft cap for instance uh because um let's say that there are other reasons outside of the platform outside of the Angel block which ensure um the the basic operations for the startup so that is also an option we give complete Freedom um in terms of ticket sizes it's also mostly up to the startup but we want to promote our active community members who either participated in our growth or do hold uh our tokens tolos token so tall of stakers will have access to higher access tiers higher tickets and Early Access that is also beneficial to the startups because on the other side what we do have an Institutional investors that we work with they do own they were invested in Angel block or with Angel blocks so they do hold significant amount of tollus tokens and they want to invest through Angel blocks seeing it as as a safety investment therefore also they bring a budget for our partners listed at Angel block very nice okay next question is a very quick one does the startup need to be a web free startup or can it come from another industry uh it does have to have token at some point right now we're focusing only on this industry just to prove our concept and idea and then potentially uh will expand to other Industries as well okay fantastic so uh here we have another one okay based on your opinion what are the main differences if any when presenting a project to seek Investments between conventional projects and blockchain projects hmm that's a hard one so I would say that there are um core ingredients of a successful startup that doesn't change across the industry um I would say from the inside something I didn't mention is certainly the team an ability to build a successful team for the future um and this is also what in our investors that that's something that comes from my from our study uh do take into consideration when making an investment decision so who do you have on the board or who do you plan to acquire is very critical um in terms of maybe on the other side what's very specific to successful um uh web3 blockchain startup um as usually there is a token somehow included within the roadmap so right tokenomics so vote for okay so specifically for startups that do own utility token it's the rightly balanced economics and the balance of tokenomics means that demand uh equals provision or demand is slower than provision and then the price will raise and everyone will be happy it was also mentioned in the presentation but of course at some point is the ability to to like build a communities and to like build social presence right that's also one of the things which at this stage is very very uh desired by us yeah matching is right so that's what we what we take into consideration but also I'm really happy to work uh at the angel Block it's it's the product that had the community uh before the actual product and we have multiple examples um of proving traction before the actual product starting from Dropbox and you know then spreading across other Industries very nice okay more questions one is very short here is Angel block change specific one and then the next one is our tokens linked to perks or Equity I guess that's a little bit longer so first question is right now our smart contracts are on ethereum mainnet and we will slowly embed other networks uh starting probably from other evm networks but also we do have planned integration with a0 I think I can announce it because the official announcement will go in following days so we'll be integrating with a zero Network providing uh fundraising for startups um Gathering funds there so and it will be cross I mean desired State obviously will go step by step but the desired step the desired state is to allow fully uh cross-chain fund Rising which means that you can both invest from multiple chains and then startup will receive funds in desired way but also receive a token uh preferably transferred to the chains as well so let's say that the token is building on a zero but has cross chain token so that's a desired state for us to to ensure integration across genes uh second question uh second question is that we focus on utility tokens not equity fantastic there is just a quick question so you were referring to a last year where I answered yes I guess it's correct right that's right just in case I was saying yes without and having the answer okay so you're referring to a left zero good okay another question here um so does startups that raise funds on Angel block uh know who the investors are um and can the startups establish contact with them and also who are the investors who invest through Angel block is it retail institutional yeah so a bit is there like any contact can you kind of like Get support and connection with your investors and also what type is a retail institutional yes so that is a huge problem of anonymity uh within the open ecosystem that ethereum mainnet is so obviously uh ethereum wallet addresses are known uh of the race participants are known but also regulations uh come into the place in our case so basically all the set of anti-money laundering regulations that we do follow um oblige us to identify um raise participants investing above certain amount of money so we do ensure that qic process is checked that therefore if startup needs to identify uh their investors because of local regulations we can allow for that depending on local regulations of the startup um yeah and we we are all following my car regulations just to make sure that we follow what's going to be implemented in European Union I would just maybe adds that Investments happen on chain so you always can see address and you can merge it to person on our portal so you can see what who is the user who invested they will be even promoted in the ranking so basically we have this whole transparency there uh we of course try not to expose the personal data of persons but it's up to them if they want to be visible and they're still coverable but as Martin mentioned we need to perform a kyc to to let investors invest more fantastic thank you okay another question what is the typical amount of investment given per milestone and how is the lockup period mechanism structured so um so the entire mechanism is to ensure delivery of a startup up to a certain point so and the reward for an investor is utility token that they're going to receive that will have a certain value so we do advise startups to ensure that milestones and budget split um expresses that and ensures investors safety of their investment basically so this is how it's how it's structured so let's say that startup is on early stage and the race is to conduct tge and provide enough features to ensure a utility for the token so then Milestones must reflect that um so there is a minimal lookup so minimal lockup period uh can be so first Milestone can be actually conducting a successful race uh but then it doesn't mean that the startup will get all the funds uh adjust after the race because then they will need to continue with further delivery so it's and right now we judge it Case by case I didn't answer the previous question sorry uh so there are both retail investors so we open the ecosystem for everyone to invest but we incentivize VCS and major players having bigger budgets to participate within Investments as well so it's B to B to C actually Network very nice cool okay another question here so they're asking for your opinion Angel blocks opinion on the state of the private private Equity no private well private BC angel investor Market are they holding back if so when will they likely become more active foreign that's that's a question as old as Silicon Valley itself well uh so it truly brings some benefits because major players can uh can provide enough budget for for a long enough Runway to to prove the business idea uh um without without the crowd so without the crowdsourcing and larger community but in other on on the other way it would be great to have um more display more dispersed investment and big whales can strongly shift startups growth in uh unwanted Direction so all depends on who's your VC um who's your investor and what's your model I'll also adds because I know some I had some experience in Paris that I know that often this is tends to invest in the things which they understand and this is completely new sector for many of them and unfortunately many of this is resign from investing in crypto because they don't feel like uh that well in the unknown Waters and this is also one of the problems which we try to fix to basically bring more education bring more understanding and more transparency to this so hopefully like the future might look better than it is right now but there's this fact that many of them are hesitant to invest in in encrypt at the current stage and basically with more understanding and with more adoption to web free that might change very nice I was going to have a like an add-on question to this but I think I'll continue with the next questions so I think this question is from Daniel the other co-founder of European black depression because he always he always says this so first time Founders focus on product second time Founders focus on distribution so how do you recycle distribution in the web 3 space how do you can you repeat the second part of the question sorry yeah so yeah so first Upon Us focus on product okay second time Founders focus on distribution so yeah I guess you know first time Founders always like oh I have this amazing product but they forget how to yes so the question is how do you tackle this distribution okay how do we tackle this tradition yeah yeah uh so we do and sure so first our marketing department is is really active uh so um we do speak loudly about angel block and our plans so this is one of the one of the channels of distribution uh second is active Community third would be the um the program for investor for institutional investors um and yet another one is the grant program and our conferences attendance to to acquire promising startups so quickly summarizing all the efforts that we're doing but it's a lot very nice okay so how does web free marketing differ from web to marketing web to marketing yes that's the question um thank you I'm not sure if it differs if it should differ so I see more much more uh awareness into building a community web to assume that the product will build community and the products were built for it uh but not only we do have bright examples of building Community before the products as well in in web 2 and in that space uh but yeah exponential rise of Discord channels telegram channels for the products Etc that's something that came with web 3 development for sure uh but it's uh it shouldn't be um heightened only to to this Market this would be interesting question for our Market marketing thing for sure to answer the right yes definitely okay another question here information on current trends around safe seed rounds for infra and D5 projects is helpful and then it says preferred registration type for Euro investment is where what type of work etc also helpful should I should I repeat yes please yeah so uh so this person would like to have some information on current trends around safe seed rounds for infra and D5 projects hmm save and uh seed rounds I mean seed runs are always risky so but the better the the bigger risk the bigger rewards so that's that's something we highlight to every investor for sure so seed round is usually for the for the startup to embody that to to embody their idea right so they do have idea they usually don't have traction So my answer would be seed rounds will be always riskier than investment in proven products um now what is safer well uh something something that I mentioned I think what what I take into consideration and that's uh what we take into consideration when um when evaluating uh startups coming to Angel block because we work with uh seed rounds uh seed run startups as well uh so first is General product Market fit so what's their idea what problems they are trying to solve what is the competition I mean standard business model um that we should all consider when when entering an investment Dental economics as we deal with uh with utility tokens so when the token will be launched what utility will be by will be ready by them um also I so is is the core idea does it require a token or the token is an addition it's like a side addition to to the core idea so that that's also uh important obviously both models are fine if um if monetization of a token is important like uni swap token is is highly recognized but this is a governance token only um so that's what I take into consideration team members as I mentioned um yeah so all right and judging by those factors I think um consider when entering an investment and that's what we list on Angel block platform so uh that's what startups must describe first to validators and then to investors um before actually they raise any money perfect okay so it's another question on marketing how to get around marketing restrictions most platform race black as soon as cryptos mentioned um well um so yes that that is an issue for sure and this is an issue dictated by the fact that uh crypto didn't reach Mass adoption right so I think like two percent uh X percent of the people right now globally uh have been using cryptocurrencies so if we're talking about majority yes that is true it's hard to convince those who were not using uh crypto before uh so it's much easier to operate within the space of experienced people and that's what we're doing in Angel block right so our product um and our marketing is reaching out to people who were investing before who want to continue investing in crypto space Etc so I would say uh my my answer to this question would be or my tip would be to Define narrow Target group within the space um and then reach out to them not to majority fantastic okay a few more questions so how are how are projects and Founders protected from investors not validating the delivery due to an unforeseen keyboard movement can you change the roadmap at some point and maybe create another Milestone with a new fundraising the answer is yes so both before the Milestone so um we want to enhance communication between investors and startup we we strongly believe that in the future in the roadmap of a startup engaged investor is a huge asset because first they can invest more simply if they trust the business but also they usually have resources to engage someone else like maybe they run another marketing company that can um um that can serve as a marketing company for the startup for lower price for instance etc etc so there are lots of benefits and opportunities from having an Engaged investor um and that's why we want to emphasize an open communication between startup and their investors throughout the angel blood platform and therefore and obviously things do get delayed Market is changing so our system will allow for uh role map pre-planning milestones for planning and that will include both budgetary planning um Milestone deliverables Etc uh after um so there are strict rules on the voting so basically investors so on the other side so on the other side after Milestone has been approved or rejected it can be audited the voting can be audited and investors must provide justification of their vote so if we see that there is a change of Hearts because of market conditions uh our protocol does not allow for it and the voting the votes start to not proceed with the protocol because they were fraudulent for any reason I mean someone took over accounts or something like that can be invalidated um so we have we do have uh we were thinking a lot about safety uh switches within the system and uh we we implemented them I'll just add maybe two cents uh from technical side to what Martin is saying so what he refers to is that we have this built in into the protocol itself so after the investment each investor is receiving erc1155 token which we call a batch which he is using later to vote upon certain Milestones if he is happy of the delivered product if it's uh if it reflects what they agreed with the startup and all the potential changes in the roadmap modifications through the scope needs to be voted by an investor using this batch so it's part of the governance mechanism which which we have been built in on the platform okay we are over time should we take one last question guys yeah let's take one one last question I I really like I really appreciate having managing with me because as we mentioned at the beginning slide Madison is one of the co-founders so he has this back idea at the same time implementing and finding all the all the best Technical Solutions for us so yeah fantastic okay so one last question actually Also if anyone this is just a side question not a side question side comment because we have now a lecture at European tech school about staking with the one uh one of our professors working at black demon so also guys if you want to join that session you're welcome but one last question guys um this is about success fees does angel Block charge success fees and what are the basic conditions so uh uh the answer is no right now we do not uh we lowered all our success fees just to ensure the product growth so we don't charge uh neither startup nor investors for the successful transactions um I think we're gonna we're gonna go with this approach for a few races so uh that's a unique opportunity but our entire business model assumes that we're going to charge five percent from the startup after the successful race uh because obviously that's business and on the other side once we enter a phase of cross chain integration uh to um to pay the gas fees across the chains Talos will have an increased role uh so gas will be paid in toss during the investment transaction and therefore Angel block will benefit by increased dollars price from increased dollars demand and also will [Music] will probably get the fee from the transaction but at the same time our mechanism as it was designed right now ex and experiments that we've been conducting shows that by grouping transactions will be able to provide actually cheaper transactions for investors comparing to individual transactions made on ethereum but also other chains as well so that will be the other Revenue source for Angel Block in the future but first comes first which is basically cross chain and ensuring that investors do pay less of us as as few as possible for the actual transaction gas fantastic well guys thank you thank you so much again congratulations I think this is really something that we need and maybe you'll have some competitors in the future hopefully hopefully others will hopefully yeah exactly no I think this is amazing so there is a huge need and also something cool is actually in our next event where you are participating you have a booth and everything we're also doing something new as event which we haven't seen in any events in the space blockchain events in the space crypto events in the space we're introducing some physical networking areas within the event so one of them is actually uh for startups and investors anyone can go there but still I can imagine probably some of you guys are going to be around there from ancient block so it's also besides going and talking to them in the booth but also in this area it's basically to to meet startups and to meet investors so this is definitely also I think a cool place where you can interact with people um but then also for example we're going to have a D5 networking area we're gonna have some different networking areas to basically as the event it's very big and everybody's looking for different things to kind of like match people a little bit better so um yeah I think this is cool again fantastic thank you so much for for the session today it's recorded so we're gonna edit it a bit upload it also to our YouTube channel and it will be available for everybody so thank you thanks for having us and thank you for active participation everyone all the questions very good questions actually thank you yeah and again yeah thank you Marcin and Marcin just last thing as I said we have now a lecture about staking so anyone wanting to join that session let me just copy uh the link again yeah so it's not it's not this same Zoom it's another link oh can you copy again Martin thank you so much you said that baby Alex was going to say hi your CEO he did not but he will be he will be around at EBC so yes so we will have the the honor to see him there thank you guys thanks