Quadrant Protocol Is Funded For More Than Five Years of Operations
2023. That is the horizon now in view for Quadrant Protocol from our ongoing token sale fund-raising campaign. We are immensely proud that we have raised more than enough funds to finance operations for at least the next five years, carrying Quadrant Protocol deep into 2023.
With proceeds from our token sale at US$15 million and rising, we are pleased to be able to provide our investors and supporters full confidence that our business roadmap to build out a blueprint for mapping decentralized data has this five-year runway.
And we have a clear governance structure, outlined from the beginning in our white paper, for how to disburse these funds in our multi-year project.
In the first year, Quadrant will utilize 40% of the total funds it has raised toward its growth initiative. After year one, the remaining funds will be distributed evenly, resulting in 15% in each of years two to five. We believe this allocation of resources positions us for strong, sustainable growth while creating prudent controls to prevent overspending.
It is important to keep in mind that we do not expect the allocation of funds to result in a decline of our total budget from year one to year two. Rather, by the end of the first year, we hope to have grown revenues to the point that they overtake these initial funds, allowing us to scale our budget and growth plans accordingly. The disproportionate weight given to the first year is designed precisely to provide a boost to growth.
The funds will be spent across the areas of R&D, Business and Network Development, Operations and Security, Legal, Accounting and Compliance as well as Treasury.
And thanks to the significant fundraising we have achieved, Quadrant Protcol’s expected growth will be both global and across several industry verticals. We have already announced more than 20 partners worldwide driving our engagement with local data economies. The broad support also allows us to push into multiple industries, including location, alternative data, IoT and medical data sectors.
Long Way In a Short Time
We are immensely grateful to investors and supporters who have helped us raise more than US$15 million in the private and public token sale.
We have come a long way in a short time.
First, weeks ago and in just a matter of days, we blew past the soft cap of US$3 million.
Then, investors rapidly poured in more funds and catapulted us past a US$ 7 million milestone. Although, we have since more than doubled that fund-raising mark, it was a significant benchmark for us and one that we celebrated. Why? Because we had identified the US$7 million figure as the point to trigger our five-year disbursement plan. Once we reached US$7 million, it meant that all funds in the total raise would be allocated according to our five-year plan, with the first 40 percent available in the first year and the remaining 60 percent spread evenly over the following four years.
Don’t be confused. This does not mean that we will only be allocating US$7 million. The whole of the raise will fall into this 40–60 split in the five-year plan.
We want to thank everyone who has participated in our private and public token sales for helping us raise these funds and ensuring that Quadrant Protocol will continue to grow for many years. Our white paper covers the details of
There is also still an opportunity for further participation in the public token sale, which ends on July 26. For information about the sale, follow our guidance on gas prices here and purchase your tokens, called eQUADs, here.
If you have any questions or comments about Quadrant or the the token, please reach out to our team via our Telegram channel: https://t.me/quadrantprotocol
