Round details

• Raising 3.5-4.5M at a 30M fully diluted valuation
• We're raising now so we avoid legal problems in case we wanted to raise after the official RAI launch
• We want to have the round fully formed by next week and then start to take care of paperwork
• Currently have commitments to cover 5M+. We'll start to accept some of these this week
• We'll use a SAFE + token warrant for this round so investors can convert to tokens later on
• The core team, the seed investors and the ones from this round will be subject to a 2 year unlock schedule starting after RAI is launched on mainnet. In the first year post launch no one is allowed to sell anything. After the 1st year each one of us unlocks 50% of their stake. In the 2nd year we all unlock linearly the remaining 50%
• The core team is also subject to a 3 year vesting schedule. We started vesting right after we closed the seed round

Roadmap

• RAI launch in late Feb or beginning of March. For 2-4 weeks we'll slowly increase the debt ceiling and test everything to make sure we didn't miss something
• After 2-4 weeks we'll start a 4 month incentive campaign for RAI/ETH Uniswap liquidity
• During the incentive campaign we will start to organize hackathons and start our grants program

Go-to-market

• DeFi saver wants to integrate RAI and protect users with our native insurance mechanism
• Nexus Mutual signaled they'd like to use RAI as a reserve asset
• Planning to reach out to Compound, Aave, Yearn and Hegic to present what RAI can offer to their users