Grindery Infinite Fundrising (9-6-2022) - current

Last updated by Christian Geissendoerfer 4 months ago

Grindery Investment Terms 

Overview 

G rindery is an early-stage,  BinanceLabs  S4 project with funding from  Near ,  Algorand, Flow  and  Harmony . The full whitepaper can be found here .  
 
Due to its multi-chain nature, synergies with other protocols and focus on developing a strong community Grindery is continuously fundraising to accelerate the growth together with its partners. 
 
This document lays out the conditions for current investors as well as the underlying rationale. 

Current Terms 

Overview 

Grindery is open to receiving investments  
 
at a $36M USD post-money valuation  
by a 3 year vesting (alongside founders and Binance)  
using a standard SAFT (Token Warrant) note 
token will allocated from the group of “future investors” (see below) 
 
The SAFT note will be issued by Grindery Pte. Ltd (12 Purvis Street #02-1620, 188591 Singapore) which was incorporated and audited during the Binance Incubation program. 

Use of funds 

Grindy is always funded sufficiently to grow past its next two milestones. The company is currently spending mostly on engineering. This budget distribution is unlikely to change during 2022. The funds from future investors allow the company to extend its runway further and as a result further decrease risk from underfunding as well as external market conditions. The decreased risk in turn will allow ro increase stability when recruiting new team members.  
 

Token Distribution 

Grindery is currently designing its token and as a resulting amount of tokens to be minted for the scheduled token sales. As a result tokens for  investors  will be allocated on a % of future tokens to be released at token sale. For more details on the Grindery token please review the latest version of the whitepaper here . 
 

Group

%

Subgroup

Allocation

Cliff

Vesting

Early backers

27%

Grindery Inc (USA) Team/Founders

5%

1Y

3Y

Team (reserved)

5%

2Y

Grindery Inc Investors

1%

No

Early investors (TD)

7%

Advisors, FFF

1%

(reserved pre-seed)

8%

Future token holders

73%

Future investors

20-30%

No

3Y

Team, Community, Foundation, Network Nodes, etc

43-53%

TBD

 

Current & past investors 

Binance was the last investor and performed due diligence . Prior investors include InboundLabs  founders, team members and investors that will be dragged along on token release. They are not included. Grants received from Harmony, Algorand, Near and Flow do not tie to any token nor equity from the side of Grindery. 
 
If you are interested in investing larger amounts at this stage and are looking for specific conditions please reach out to us directly to discuss individual terms. 
 
Refreshed On: Dec 05, 2022 11:22:13 UTC+00:00