Alchemist CALL

Alchemist - MistX (

Crucible -

Alchemist Call Notes:

15 -20 Developers (part and full time)

Builder community - closer to 30 (producing stuff for Alchemist)

Core Team is design/marketing 

Protocol that incentivizes building in the most abstract sense, cool shit. 

Did a fair launch, raised 35 ETH that went directly back to liquidity mining. Inflation is a tax on holders, to build products, that goes back toward building things that add value to community.

Crucible Farm - first product 

MistX - flashbots based dex aggregator (KPI is # of daily users) 

Cooper - fair launch front end (ties into Balancers smart contract, received a grant from Balancer) 

Sandwich - educational site about front-running 

#1 Goal that they're trying to achieve: 

Each product operates as an independent startup - market share/revenue (growing one or both)

Goal for Alchemist itself - experimentally achieving the optimal structure to replicate success, feeding people thru a funnel that leads to that.

# of successful revenue generating products that they produce is their KPI

Each project has a project lead contact

When a potential product comes out, they have an existing builder community that self formulates a team around it. Self-forming teams in a community context.

Cross-pollinating communities - use XIO token to help them hit specific KPIs. 

D64 meeting

  1. Would love to know their investing thesis? Who else have they invested in?
  2. How do they typically structure deals?
  3. What do they know/not know about Blockzero?
  4. What items outside of capital would we have access to (any advising, devs?)
  5. Would they be looking for just XIO or equity?

I was there for the Nonfungible Pepes launch, remember Dillon Francis djiing in there..., I'm in the airdrop for Universe

The Universe Protocol allows you to launch your own community-driven content backed by social tools, media services, and content distribution as well as tokens, games, and finance.

Ideal Outcome:

Help project move forward/partner - capital 

1.Strategic partner, stable capital to use during/throughout any bear market

2.Connector - help our project get more partners/other investors, lead a bigger round?

3. No longer have to use XIO for primary fuel for operational expenses

4. Get more aggressive for talented people/devs 

5. Capital = keep building DeFi legos/projects (bear) + Accelerate protocols in bull markets (less upside/les risk)

Investor options - 

1. XIO based?

2. Or BZ labs as an entity, they could have equity

3. XIO Options token

Quinn does a lot of the heavy lifting, investing wise for D64

  • In terms of agenda, he wants to get a nice overview from BZ
  • Trying to understand our current standing in the market
  • Greatest areas of need, they have a good amount of resources under their belt
  • D64 is a Founder/investor blend, they've been thru the ringer - speak to the other potential benefits within this realm beyond simply capital (advisory)
    • they help teams with building out their round, provide liquidity, strategic side of things - making in roads with key partners, helped fill out rounds, design 
  • Bear = lower valuation
  • Ensuring there's an alignment between us both!
Dash providing a quick history of BZ / Dash background 
  • current obstacles we're facing
  • XIO tokenomics over the last year and a half
  • upcoming things we're excited about
  • our views on capital (we're totally bootstrapped)

Started with Haven (2019) - tried to put out a stablecoin, then they pivoted. What's been our journey and how did we pivot throughout this process?

What does our round ideally look like?

Ideally a good fit for our culture/community, and can add value beyond simply just capital

Ideal timeline: how have they historically structured deals? Their investing thesis?

1 category - traditional venture round 

  - depends on what stage team is in... pre-product, they agree with their roadmap/MVP, they consider this to be pre-seed capital... rounds typically structured between 5-10 or 15-20, 35 million at highest 

or OTC and transaction with tokens: discounted off of current price of token (assuming that there is liquidity there...) 

One team had a 65% discount vested over a year and a half for their tokens...

Another team had a 50% discount over a course of a year... the longer the vesting, the higher the discount. In each case there was already existing liquidity. They did this with Lido Finance.

Why companies are willing to use OTC? 

Used as a perpetual fundraising model... tokens come from treasury/DAO for fundraising purposes. If it's trading actively, it's OTC...

If not yet liquid (seed round), it's just a standard venture round where the tokens will become liquid in the near future/unlocked at TGE.

What percentage of them have a separate legal entity vs. totally DeFi decentralized? What route do they prefer?

- Majority are moving towards being decentralized - build a natural defense in events that there was to be a crackdown on DeFi (no one singular party to go after)... some teams going DAO first out the gate. This route has the greatest moat... if more B2B, fair amount of teams have been centralized. Depends on what our target audience is. 

DAO is a good defense (Wyoming Bill), no one 

- What interests them? they've done equity, SAFs, SAF-Es (equity at first, converts to tokens), many many ways to structure it... what they prefer is having a token (much more liquid, community factors)... 

Next steps: he has all the docs we sent

- get an idea of timelines

- rolling phase (we can have something wrapped up in a week if needed)

- if we wanted to have a "round", everyone has the same terms// get everyone on board

- if rolling, people would then play the market (y-axis dropped to $5)

- with Lido/Aave, they had one set round and all funds were involved from the start over a year or two