Announcing Second Round of Investment in MADANA
At the beginning of 2018, I have announced that MADANA is receiving the first investment of 200,000€ from The Pioneer’s Vault for committing to build a blockchain application on the future Lisk platform. On September 1st, they have successfully launched their pre-sale after completing a variety of business and technological milestones. Therefore, The Pioneer’s Vault is ready to announce its second investment of another 120,000€ in MADANA.
A summary about the project
MADANA stands for Market for Data Analysis and enables individuals to participate in their personal data market, while simultaneously preserving their privacy. Its ecosystem incorporates a token known as PAX. It can be used to buy data analysis results from MADANA’s decentralized information pool while at the same time rewarding data producers. Learn more about MADANA in my first blog post and on their official website.
Why the follow-up investment
Successful and legitimate blockchain applications will make the foundations of the future Lisk ecosystem. Without them, Lisk won’t have a reason to exist. During this crucial time of the network’s development, it’s important for the Foundation, community, and myself to support quality projects as much as we can. After partnering up with industry giants like Capgemini, research-heavy technical universities like RWTH Aachen or important associations like Stiftung Datenschutz (Data Privacy Foundation), MADANA has proved to represent this quality.
Aside from securing high quality partnerships, they can boast one of the first completely approved pre-sales in Germany, being patent pending and by publishing a 59 pages long technical white paper, while building up a team of 15 contributors in total. Their combined experience shows that they understand legal, business and technical factors that will ensure MADANA’s success.
All these achievements in such a short period of time convinced me to keep supporting this future sidechain project with a follow-up investment. That sums up the total investment by The Pioneer’s Vault to 320,000€.
It’s up to the Lisk Community
Promising and revolutionary blockchain applications will ensure Lisk’s success. Let’s all support a decentralized future built in our ecosystem by contributing to solid projects with unique visions. MADANA has shown us that they are the first to the game and ready to build something impactful on top of Lisk.
Update from 16th November 2018: The LSK have been sold and the EUR were transferred to the Madana team.