Ink Finance Monthly Report #23
April was a month of significant progress for the Ink Finance team. Our visionary CEO, Tony, took a strategic trip to Thailand to connect with Revere VC, one of our valued supporters in Southeast Asia.
Simultaneously, our amazing co-founder Camille and our talented head of marketing, Linda, headed to Hong Kong to participate in the Web3 Festival. Their mission was to strengthen relationships with our current INK investors and establish connections with potential institutional investors.
Our team also proactively delved into the ever-expanding landscape of the Web3 ecosystem. We actively sought opportunities for collaboration with various communities and groups, leading to some promising business cooperation prospects.
In addition, April marked the official launch of our B round of token and equity financing, an exciting step forward for Ink Finance.
Our incredibly skilled and proficient INK engineers marked the month’s most notable milestone by successfully integrating the staking engine into the Ink Finance system. This advancement allows our DAO customers to incorporate their own token economic model into their DAO governance.
Series B Fundraising
April 20th, 2023, Ink Finance announced that it has started the Series B fundraising. This round of financing will open up options for equity investment, in addition to SAFTs to institutional investors. The co-founders and core members will set up Ink Finance equity company in Hong Kong, focused on business development of Ink Finance ecology. In 2021 and 2022, Ink Finance completed two rounds of financing with a current valuation of US$80 million. The structure of equity + token, as well as the valuation, is to be determined.
Inker DAO has launched a prize-filled campaign to help users better understand & experience Ink Finance’s new Identity Verification features. Nearly 100 community members have actively participated in the event, engaging in lively discussions and asking questions to enhance their grasp of the new features. This exciting campaign not only highlights the potential of Identity Verification but also showcases the commitment and enthusiasm of our dedicated community members.
Talk to Team
Ink Finance CEO Tony Tang recently participated in a “Talk to Team” session with our fantastic community, offering detailed insights into highlighted user concerns. This productive dialogue provided a deep dive into product features, security, advantages, community engagement, and marketing strategies.
The discussion spanned topics such as INK’s role in shaping on-chain ecosystems and the DeFi revolution, liquidity solutions, the choice and benefits of DAO, scalability and security measures, strategies to tackle high gas fees, and Ink Finance’s future roadmap. Moreover, it touched upon INK’s unique advantages over traditional finance, its community-driven approach, 2B2C marketing plans, the upcoming mainnet release, and INK-QUILL conversion mechanisms.
This session was a unique chance for community members to gain an understanding of our team’s strategic thinking and dynamic action plan illuminating the meticulous thought process that propels our actions.
Discover more here
Business Development & Marketing Expansion
Hong Kong Web3 Festival & Bangkok
At the Hong Kong Web3 Festival 2023 (12–15 April), Ink Finance’s co-founder Camille and head of marketing Linda represented the company at the largest crypto-focused event in the region. They shared information about B-round fundraising, including equity financing. They forged new connections with VC funds from Hong Kong, Singapore, Europe, and the U.S. They also met with INK’s investors from Draper Dragon, GSR, Avalanche, and Bella Protocol.
Meanwhile, Ink Finance’s CEO Tony traveled to Bangkok to visit INK’s A round investor, Revere VC. They explored potential collaborations between Ink Finance and local Thai fintech companies to support the underbanked population. Revere VC and his team expressed their commitment to fully supporting Ink Finance’s Southeast Asia community expansion efforts.
Web3Port Demo Day
On April 24th, the Ink Finance team stood out as one of the most exceptional projects, graduating from the Web3Port Bootcamp. Camille delivered a virtual presentation to 72 VCs, discussing the needs of the web3 market and how to utilize INK to establish and operate a web3 business effectively. To watch the complete demo, please click here.
Investment Trading Module Under Development
Currently under development is our Investment Trading module. Last month, we launched most of the functionality in INK’s Investment module. This month, our team is focusing on developing the Fund Trading feature, which includes introducing assets, asset approval, initiating trades, trade approvals, and the release of escrow functionality.
Upon completing these features, the entire Investment workflow will be fully operational. Investment managers will then have exclusive access to initiate funds on the Ink Finance testnet.
Staking Module Deployment
Ink Finance, a web3 SaaS infrastructure, integrates staking mechanisms within its governance and incentive structure. DAOs can create staking pools for users or members to stake and pledge. DAO members can select these pools to earn rewards and vote. For DAO managers, staking is essential to acquire pledges.
We’re excited to announce that we’ve nearly completed the development of these functions, with plans for launching them on our testnet in May.
Thanks for catching up on our exciting April breakthroughs! Our rockstar team is committed to continuously pushing boundaries and enhancing our platform. If you’d like to learn more, reach out to us anytime.
Read more： Ink Finance Biweekly Report # 22
About Ink Finance
Ink Finance is an on-demand financial management SaaS, enabling on-chain organizations to build effective operation structure and perform best-practice financial management. Motto: Finance is built on credit, and credit comes from competence.
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