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

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Last updated by Christian Geissendoerfer 19 days 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.

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Refreshed On: Aug 16, 2022 04:39:41 UTC+00:00