This article was originally published on The Daily Chain, 16th March 2021.
–TotemFi raises $255,000 in strategic round to launch staking-based prediction markets platform
–Over $30 million in strategic sale allocation requests were received from thousands of prospective investors
-Strategic investors include DuckDAO, Nabais Capital, LD Capital, Alphabit Fund, Altvest, Moonwhale Ventures, and Bluenode Capital.
TotemFi, the decentralised finance (DeFi) prediction markets platform for the crypto community, today announced the close of their strategic sale round for $255,000, with a roster of strategic investors which includes DuckDAO, Nabais Capital, LD Capital, Alphabit, Altvest, Moonwhale Ventures, and Bluenode Capital.
Commenting on the announcement, CEO Jolyon Layard-Horsfall stated: “We couldn’t be happier with the strategic investors we’ve partnered with; each of them brings significant expertise, and comprehensive industry knowledge, to our project. We’ve no doubt that their help, guidance, and deep pools of talent will take TotemFi to the next level, and these strategic partnerships will prove invaluable long into the future.”
The raise follows a successful incubation by DuckDAO, the top decentralized crypto incubator in the space. DuckDAO’s expertise in decentralized fundraising has helped ensure TotemFi’s success during pre-launch, and will continue into the later stages and development of the project.
The roughly 120X oversubscribed strategic fundraising round saw more than $30 million in interest from thousands of applicants, showing the overwhelming demand for DeFi prediction market providers which feature non-punitive BTC rewards.
Commenting on this, CMO Harry Horsfall stated: “We want to thank all interested parties who expressed an interest in becoming strategic partners of TotemFi. From an allocation point of view, we had many considerations to take into account, including which contributors would facilitate growth across key geographies, and the depth of experience and expertise which each partner would bring to the project.”
The strategic round forms part of the $777,000 fundraising cap for the project, of which $60,750 comes from seed funding, $360,000 comes from private sale, and $101,250 will come from the public sale when the project undergoes its IDO.
The strategic investors which TotemFi has partnered with will allow them to scale cross-border business development efforts, and gain traction with their networks, thereby enabling TotemFi to realise their vision of providing decentralised, staking-based prediction markets for the crypto community.
About Strategic Investors
DuckDAO: DuckDAO is crypto’s leading decentralized incubator. Their community is led by crypto pioneers who have supported over a hundred projects in the last four years. With a huge community of investors, their experience with fundraising and marketing along with their expertise in crafting token metrics have made DuckDAO the leader in the crypto fundraising sector.
Nabais Capital: Nabais Capital, headquartered in Portugal, is a digital assets consulting and investment firm focused exclusively on blockchain technology and cryptocurrencies. They support blockchain projects from a very early stage, helping their portfolio companies to grow and go-to-market. Their founders are themselves advisors and angel investors in blockchain startups, with an outstanding track-record in picking projects for investment and advisory roles.
LD Capital: LD Capital is the most reputable investment firm in China focusing on Blockchain Investment, Securities, Equity Investment and Trading. Owing to industrial resource advantages and professional investment research team, LD Capital has successively discovered and invested in more than 200 companies. LD Capital overall achieved more than 100 times return with peak self-owned assets of nearly 1 billion US dollars.
Alphabit: Specialists in cryptoasset investments, with an aim to advance the overall development of the sector by investing in and sharing their expertise with the most visionary and innovative projects they can find.
Altvest: Altvest is a digital asset consulting firm that provides marketing, advisory, and research services to disruptive and early stage crypto ventures.
Moonwhale Ventures: invests in high calibre Blockchain and Crypto projects, and helps them access the Southeast Asian markets. Moonwhale helps to connect projects with the right influencers, launch strategy, long term investors and partnerships with industry-leaders, commercial backers and institutions.
Bluenode Capital: Bluenode is a Venture Capital firm based out of Hong Kong, supporting the best Blockchain and Cryptocurrency startups.
TotemFi is a staking-based Decentralised Finance (DeFi) prediction protocol, which offers investors a platform to earn rewards for accurate predictions, both individual and collective, on price movements within a given asset, or on broader events. TotemFi combines high-yield staking pools with BTC and native token rewards for its community of users.
TotemFi’s decentralised app (dApp) launches early in 2021. Keep up to date with all news from TotemFi by signing up to their mailing list, follow them on Twitter (@TotemFi), Medium, and speak directly to the team on Telegram.