API3 is pleased to announce we have closed our seed round of investment. Our seed round comes in partnership with six major funds and totaling $3 million in raised capital.
All told, API3 has raised $3 million in exchange for 10 million API3 tokens that will be subject to a 2-year lockup. These tokens have a linear release schedule throughout the 2 years and become unvested on a block by block basis. The 10 million API3 tokens sold to our seed round investors make up 10% of the total supply of 100 million tokens.
Placeholder is a venture capital firm founded in August 2017 by Chris Burniske and Joel Monegro that invests in open blockchain networks and Web3 services.
Chris had this to say about API3:
The API3 team and community are exemplary in their understanding of the oracle problem and its potential solutions. In focusing on allowing primary data providers to run their own Airnodes, API3 is allowing the reputation and quality of established data providers to carry into cryptoland. The cryptoeconomic model can be thought of as an application-specific version of Nexus Mutual, meaning the capital underlying the network ensures the veracity of its information services. For these reasons, we think API3 is poised to be a key information authority for a wide range of crypto-systems well into the future.
Pantera Capital is a leading blockchain investment firm and one of the largest institutional owners of cryptocurrencies. Founded in 2013, their mission is to act as the catalyst for widespread blockchain adoption and innovation.
Accomplice is a determined and patient capital partner for entrepreneurs building things that matter. They have been part of the origin story of AngelList, CoinList, Carbon Black, DraftKings, Integral Ad Science, Hopper, PillPack, Plastiq, Recorded Future, Skillz, Veracode, WHOOP, and Zoopla.
CoinFund is an investment firm founded in 2015 and based in Brooklyn, New York. They invest in venture and liquid opportunities within the blockchain sector with a focus on digital assets, decentralization technologies, and their key enabling infrastructure.
DCG’s mission is to accelerate the development of a better financial system. They aim to do this by building and supporting bitcoin and blockchain companies by leveraging their insights, network, and access to capital.
Hashed is a team of blockchain experts and builders based in Seoul and Silicon Valley whose mission is to accelerate the mass adoption of blockchain by investing our own resources and empowering a new wave of entrepreneurs and innovators who are creating this future.
Recently, we announced that we will be increasing the token allocation for the public sale from 15% of the total supply (15M API3) to 20% of the total supply (20M API3). The additional 5 million API3 tokens will come from the initially planned Governance Partner Distribution. This means that the only unvested tokens available will be distributed through the public token distribution on the Mesa DEX. Keep an eye out for an announcement regarding our public distribution soon.
Twitter — https://twitter.com/API3DAO
Telegram — https://t.me/API3DAO (Community Chat)
Keybase — https://keybase.io/team/api3 (Developer Chat)
Github — https://github.com/api3dao
Reddit — https://www.reddit.com/r/API3/
Medium — https://medium.com/api3
DAOtalk — https://daotalk.org/c/daos/api3-dao/37
Read the full API3 token legal disclaimer here.