I would certainly be interested in this as a non-US investor and I imagine they would have more than a few million dollars interest between us so should hopefully be able to cover the round between us. Obviously it depends on the terms but I’ve been an LP since the beginning and like what the team are doing
I’ve submitted, good luck!
I am also an LP. I provide liquidity for the shell from v1 to v2. Unfortunately, I am not an American investor. But I was very eager to get such an investment opportunity, so I filled out the form, good luck.
This sounds like a great idea. Submitted.
Yes, International, through SPV
It’s pretty awesome to have the ability to invest like a VC in equity but I think it makes the process too complicated and uncertain. A better way of achieving basically the same result to me would be to allow community members in a token round
@shtl In this case actually almost no Americans have expressed interest in investing which makes the process MUCH easier. It’s a good thing in this case that you’re not an American investor.
@billi I agree a token sale is much easier and simplier but the team has already raised a pre-seed / family&friends level of equity funding to build v1 so they want to continue down the path of raising equity.
In my mind, Shell Protocol is controlled by the community, not the core team. Selling Shell Protocol tokens is kind of antithetical to this notion. That’s why we are selling equity in a company that is building the core Shell Protocol. The company will be incentivized to do this by receiving tokens from Shell.
Any update on this? I’m a big fan of the project and would definitely participate in the community seed round.
Thanks for asking. I should post an update here.
The results of the survey was shared with the team on April 13th and the team is going to come back to me with a list of questions. Things look optimistic and they are running their ideas past their lawyer before sharing it with me or the community. I’m thinking we’ll have an update this week!
There was a significant amount of capital interest in our community! It’s really amazing. Considering that the team could even raise enough just from the community if they wanted, what are the pros/cons for bringing on 1 or more VCs? What’s a good strategy on that?
Aloha guys, is it to late to jump on the list to invest in Cowri?
Not at all we’re still discussing the process
@myfrogger-2792 do you know how was their prior fund raising, and by whom, if any.
I’ve received an update from the team in response to the survey. It all sounds very promising, and we’ve helped them realize there is significant financial support from the community here.
One thing that came up in conversation: Do they even need VC’s? The problem is that a VC would take too much of the round and likely the community could only invest 25% or so of what they indicated they wanted to invest. If there were no VC’s we could perhaps invest all that we wanted.
The second thing is that VC’s will want a pitch deck and there is quite a bit of time and effort to get funding from a VC. All of us here in the community are already familiar with the project. We could invest right away, they could simply focus on building and shipping Shell V2.
Skip the VC’s and do a 100% community round with vesting.
Just like Juan I think the community should have priority. VCs could get involved afterwards if the team needs more capital; it could be existing investors like TheLAO for example.
Can someone knowledgeable in equity investing point me to resources online so I can get familiar with the subject please? Thanks in advance
Equity investing means you buy stock in a company. The company can be publicly traded on the stock market or it can be privately held and not listed for sale anywhere. In the case of equity of protocols and crypto related companies is likely the token issued by the project, not necessarily profits or revenue from paying customers.
There has been no published token allocation but something like XX% will be allocated to the equity owners for building the protocol, X% to liquidity mining, etc. In my opinion the tokenomics really matter but there are probably a lot of more blind supporters here that will just assume that if you invest alongside the owners and creator of the protocol that you’ll do OK in the long run. That’s probably true although I think time is of the essence to at least get our investments back. If the tokens are locked for even a year, the bull run might be over and alts historically have gotten hit much harder than bitcoin.
That’s why the SEC in the USA says investors in startups need to be accredited investors. If you are American but not necessarily wealthy, you can become accredited (and learn a lot) by taking a series 65 exam. It looks like it’s 3 hours and you’ll learn a lot about investments. Starting May 1, the SEC says that this is as good as being a millionaire. Details here. It’s not a perfect preparation in my opinion but I’m glad non-millionaries now have an option to invest in startups they are passionate about. If you’re not American you still might benefit from studying for the exam, just to learn overall.
Thank you very much for taking the time! That’s great I understand the situation much better.
You’re right to stress that it will take a lot of time to play out, something I’m okay with. No I’m from Europe but I’m absolutely up for some studying, knowing the rules is key
This is the way, the DAO way !
i agree, this is part of dao