The When, What, & Why of the IDO— An announcement from the ADA Finance Team

The ADA Finance team, with the support of its partners have decided to postpone the IDO. We understand this can be frustrating news to many of you who are excited to see the token offer running as the first step to greater things. To all the eager investors who keep asking “When can we buy ADAFI?”, we say “We’re almost there. It won’t be long”.

The reasons behind this decision are first, due to current market instability, we consider the launch could be more successful if we wait a bit longer. Second, Christmas and new year’s holidays are approaching and this is a time to spend with family. Our team is working very hard and other supporting businesses teams are currently running at maximum capacity against the clock to meet goals. Third, our founder and CEO is currently in Dubai on business establishing new strategic partnerships but has unfortunately contracted covid, with this having exactly the effect you would expect. Finally, the most important reason is our partners requested it and we agreed. We consider it critical that the ADAFi token is available for trading shortly after IDO. We want to make sure it’s listed in top-tier exchanges (both decentralized and centralized). The listing in the CEX, a condition for the third launchpad, has been momentarily halted by the exchange due to the current market conditions. So, for now, we are holding.

Just as important as the goals we intend to reach, are the values we intend to hold ourselves to. As a company that seeks to create an ecosystem, we would like to treat both our investors as well as our community with the respect that we feel they deserve. Therefore we would rather postpone the release slightly to make sure that the results are befitting of the interest shown in us as a project.

In the meantime, we want to let you know if you completed your registration and snapshot on Vent and got whitelisted, you are good. Sit tight and wait. We also want to assure our community: once we get the CEX listing confirmed, and the 3rd launchpad is announced, we start a stellar go-to-market strategy for 10 days running up to the public sale and listing. Once the dates are set, registration will be opened on Paid Ignition and in the third launchpad. From that point on, we speed up to a perfect launch. In the meantime, we’ll keep you informed every step of the way on all updates and developments that are taking place.

Let’s talk tech, where’s the development going you ask?

The dev team is working intensively to bring you the Beta Launch of the platform before the initial IDO launch. Once the tokens are listed you will be able to benefit from the utilities the token brings.

You will be able to interact with the platform UI, connect your wallet for the Avalanche or Cardano network and start using some of the dApps in the ADA Finance Ecosystem before the IDO.

Wallet dApp connectors:

We’re working in parallel with multiple wallets for both networks. Right now we have integrated MetaMask and Avalanche Wallet on Avalanche, and Nami wallet on the Cardano network. These wallets are currently ready with their dApp implementation allowing to connect wallets in the Frontend and call Smart Contracts functions deployed on the network. We will continue working on securing the connectors and verifying their implementation with our dApp Ecosystem.

Staking on Avalanche (MainNet):

The tokens will be released on the Avalanche blockchain. Right away you will be able to Stake ADAFI tokens and receive passive earnings starting with 15% APR for the first 90 days and then 20 APR for keeping your stake longer. Our Solidity team has finished with the implementation of the Staking contracts. We are currently testing the various test cases with automated integration and end-to-end tests. The staking UI with integrated Smart Contracts on Avalanche C-Chain MainNet will be available before the IDO date.

We want to make sure that the stake you keep in the Smart Contract Staking Pool would be safe with us. We have already completed the audit for the Token contract and will continue with the 3rd party audit for the Staking Smart Contract with Solidity Finance LLC.

Affiliates on Avalanche (MainNet):

We bring something unique to DeFi. The standard affiliate structures will be brought on Avalanche C-Chain Mainnet. You will be able to connect your wallet via MetaMask or Avalanche Wallet, generate a referral link and share it to a friend. Right away after participating in the IDO, you will be able to claim additional bonuses in ADAFI tokens when participating in our affiliate program referring the platform to friends. This dApp will be brought to the MainNet before the IDO. The referred users will continue to bring benefits to the affiliates with each dApp release in the future. So claiming the bonuses and getting the friends on board early is worth it.

Staking on Cardano (TestNet):

We are also currently integrating the Smart Contracts written in Haskell for the Cardano network. Right now we’re working with the TestNet deployment, integrating the Smart Contracts to the Plutus Application Backend that is, in turn, communicating with the local Cardano Node, Chain Index, and Wallet Backend in our TestNet infrastructure.

We hope that the maturity of the Cardano network reaches the stage where we could deploy our solution to the MainNet. We are getting ready for that, resolving concurrency and stability issues, but we’re still not sure if that will happen before the IDO. Fingers-crossed, but in any case, the TestNet version of the Staking Contract on the Cardano network will be also presented to the public before the IDO.

Let the world know who ADA Finance is! The Best DeFi Project Of The Year.

The marketing team is growing, and with that comes refined strategy, defined targets, bigger goals, and the drive to make it all happen. Our main goals for the pre-launch strategy are simple, we merely want to focus on two key factors — to grow the ADAFi community and for further brand awareness to spread across the industry, to the mainstream space.

We continue to work with a reputable public relations agency to deliver our story to top-tier media outlets, continuing to engage the community with updates and announcements. In addition to our weekly business development blog and technical updates, we continue to alert the community each week about any strategic collaborations and advisory engagements.

This week we shall also release our weekly newsletter, where all the in-house updates can be observed, if you haven’t already subscribed and want to know all the latest updates in advance you can subscribe here. Speaking about our weekly updates, we shall also be releasing a new educational series of short articles weekly to help educate those who are new to the community and industry, making it an easier process of integration into the ecosystem for someone who is still very fresh. We think that education is a very important and sometimes missed focus within the crypto world, so with this, we are seeking to provide a helping hand to join the community and feel more at home.

In the next coming weeks, until the IDO is announced, we recap on our partners, backers, and top-tier line up of influencers which we shall be working with closely with to release new material, and cross-promotion to maximise our reach within other untapped communities, seeking to pitch the potential for ADA Finance’s DeFi ecosystem and passive earning capabilities to new frontiers.

Recently you might have noticed our Twitter page has grown substantially from what it was just a few weeks ago, and we thank you for the constant support and engagement the community inputs! For this activity, we would like to reward our valued community in a meaningful way.

Discord/Telegram

Our Discord server is also steadily growing, and with that comes the introduction of multilingual channels adjusted for the global audience. We currently have 6 languages including English but seek to add more and expand our global audience within the next upcoming weeks. Do you have any suggestions for a language you’d like to see there? Post your suggestion on the #request-language channel in the international community section!

Multiple contests shall be created leading up to the launch, we enjoy these contests because we know the community loves them too, and with that, make sure to keep your eyes peeled at all the challenges ahead and your chance to participate and WIN!

Join our Discord Server and Telegram, interact with the rest of the community and benefit from early updates and contests that take place in these platforms exclusively!

Airdrop

A campaign was set in motion in November, launching a 5000$ ADAFI airdrop. These tokens were initially planned to be distributed on 31st December 2021, equally spread between 100 participants who have the highest scores. Due to the postponing of the IDO and CEX Listing, we would need to postpone the winning distribution. So hang in there community winners, once the date is announced and upon us, we will be able to distribute these tokens three weeks after the IDO.

You shall surely be able to see the new community growth that will take place in the next few weeks, being yet another reason as to why the postponing of the IDO date is an important step in the right direction.

With the holidays being so close, we wish you the most joyful of holidays and time with your loved ones, stay safe and take care!

ADA Finance Team