We are pleased to provide the details on our team’s recent accomplishments since our last Community Update posted in early October. We’ve made progress on development work on the product roadmap and new features, business development and fundraising initiatives, new users, and marketing and grant activities.
The value of the $MILE token continues to hold up well, all things considered, during these challenging Crypto Winter times and in view of the recent FTX debacle which has hit industry confidence and caused coin values to drop. Recently our token was trading at $ 0.46 USD (on 11/17) compared to $0.10 at the launch of IDO last March.
We now have over 50 startups on the platform and a growing contingent of VCs; our goal is to have 30 VCs up and using the platform in the coming weeks and are diligently working on executing this. We’ve been having ongoing conversations with bigger cheque investors regarding growth equity as well.
Team and Advisors Update:
We proudly announced two new and accomplished crypto industry veterans as part of our Advisory Board. They are Artem Tokariev, a partner at 408 Ventures VC firm, and Stuart Tweedie who is a senior associate at Silicon Valley Bank.
We have recently downsized our team by two members to right-size the business for prudent expense management purposes.
Product Development and Audit Update:
The development team, in addition to product and marketing teams, are focused on planning for the launch of two significant new features (Staking and Streams) over the coming weeks. We are at the QA and testing stages now as we ready them for launch.
Staking enables users to stake $MILE and earn points on the platform. The higher your stake, the better the premium features you can access on the platform.
The Streams function is designed for dealflow sharing to get rid of the often muddled and non-efficient deal sharing processes for investors, making fundraising simple for both parties. Users can send and share startup/investor portfolio info to other investors in one click.
We’ve finished the Streams feature and now testing it on Stage- will be launched soon.
The following are other development team activities over the last month:
- We continued to improve existing platform functionality including fixing all critical bugs of non-blockchain features, primarily to impact usability and speed improvements.
- We finished Production Stabilization after Migration to NestJS which will enable faster future development and use of plug-ins and reusable code.
- We finished writing SCs for Blockchain Roadmap which is now audited and improvements identified being made.
We completed a security audit of our smart contracts to get ready for the staking feature. This was completed by our partner, security company Vidma. We are happy to have achieved a very high score of 100 in the report, an excellent result and will provide confidence to our users. We are also working on finishing some of the non-critical fixes suggested by the auditors.
We continue to sign up new startups and many have also entered our grant program. In the past few weeks we have announced the following projects have signed up-
- Anarcade- Web3 Games and Casino project-
- Serendipia- Real Estate project-
- Sparq- FinTech crypto payments company
Grants for Roadmaps Program
The MilestoneBased Grants for Roadmaps program’s inaugural round of Q3 applications are in and we had 17 projects submit applications. Our judging team is finishing their review and choosing the top startups. We will reveal the winner/s (up to 3 winners may be chosen per quarter) for a $20K grant shortly. For those who missed the first application deadline, the second opportunity to join the Grant Program for Q4 is open till December 31st via the link: https://milestonebased.com/grant
Events & Social Media Update:
We have been actively participating in Twitter Spaces events and AMAs recently. Ian Arden was part of an AMA with our partners Ferrum in October on “Roadmaps and holding early stage projects accountable”. We are also producing educational content on understanding roadmaps, including their purpose, different types and how to create them that we are sharing on SM platforms.
Ian also participated in two additional AMAs with the Ferrum community- one was an information session on the platform, and another was a panel speaking on “Crypto Winter strategies for founders in light of FTX.”
We’ve participated in multiple in-person conferences recently to meet with projects and investor communities. Our Product and Community head Anna Boda was at Web Summit in Spain; Ian Arden was at Tone Vey’s VIP Financial Summit with a group of crypto investors recently; and our head of Marketing, Linda Montgomery was at Mainnet in New York, and the Web3 Blockchain Summit in Toronto recently.
Business Development and Fundraising Update:
We continue to prioritize reaching out to and onboarding new startups, accelerators and VCs. Our business development team has regular “onboarding concierge” meetings with new projects to help them list their roadmaps. We continue to promote milestoneBased via our various BD managers from across Applicature and our sister portfolio companies, including our existing client and partner ecosystems.
We are in active conversation with multiple Crypto VCs and Family Offices through some specific business development efforts led by our founder and CEO. Ian Arden hosted another networking session for Abu Dhabi Founders and Funders crypto networking event recently where he promoted mB to the local community of investors. He has also been quite active in the Abu Dhabi Finance Week just recently held in Dubai in November.
Thank you for your continued support of our project. Please feel free to contact us with any questions, suggestions, or client referrals.
Telegram group: https://t.me/milestoneBased
$MILE token: www.pancakeswap.finance
DEXTools live pricing: https://www.dextools.io/app/bnb/pair-explorer/0xc53539f1aacae3a570799b84211fbffa1872e47e
Grants for Roadmaps Program https://milestonebased.com/grant
We are on a mission to fix a legacy system of VC capital inefficiency by revolutionizing collaboration between crypto investors and startups. milestoneBased leverages a blockchain DAO and escrow smart contracts in an automated governance and milestone achievement management platform. Investors achieve greater capital and process efficiency plus data-driven insights, for a faster path to liquidity and monetization. Startup teams access funding and strengthen performance through milestone accountability.