🔀Platform Workflow
A startup that decides to seek funding on the AngelForge platform registers by connecting their Metamask in the personal account. The startup then fills out a questionnaire, uploads documentation and project information, with a pre-approved number of stages (4, 5, or 6) and time periods for each stage (from 1 to 6 months) for idea implementation. They also set the minimum (Softcap) and maximum (Hardcap) number of tokens that will be reserved for angels in the seed round. The remaining tokens (apart from the seed round) will not be available to the startup until the full completion of the project's implementation period.
One of the key requirements of the AngelForge platform for startups is the creation and placement of a roadmap.
Mandatory requirements for the roadmap include the presence of:
timelines for each stage;
volume of planned work for each stage of the project;
necessary amount for the implementation of each stage of the project, which is obtained by dividing the Softcap by the number of sprints
Example roadmap for a project with 4 stages:
№ of stage | Name | Duration | Description | Costs |
1 | Seed-round | 1 month | Develop smth… |
|
2 | 1-st sprint | 6 months | Develop smth… | $250 000 |
3 | 2-nd sprint | 4 months | Develop smth… | $250 000 |
4 | 3-rd sprint | 6 months | Develop smth… | $250 000 |
During the implementation of the project and as feedback is received from its Participants, the startup can make changes to its roadmap in accordance with the conditions set by the AngelForge platform.
On a specific launch day, the project begins, and from that moment, the countdown for all previously approved and recorded periods in the smart contract starts.
The first stage is always the seed round (lasting from 1 to 3 months). The seed round can be closed at any time within this period.
After a successful seed round, the project claims the first tranche.
During the second half of the stage's duration, a linear unlock of the project's tokens for the current stage begins, allowing participants to claim them as needed.
After the end of the second stage (1st sprint), a voting period begins, lasting 7 days.
Voting is conducted only for negative outcomes; if there are no complaints about the project, the angel does not need to take any action. 7.1. at the end of the voting period, if more than 51% of the votes are negative, the project is closed, and angels can claim the remainder of their funds back 7.2. at the end of the voting period, if less than 51% of the votes are negative, the project can claim the next tranche. The same process (5 - 7.) is repeated for the subsequent stages
After the successful completion of all stages, the project can claim all remaining tokens and use them as it wishes.
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