After months of building relationships, ideating our vision, and mobilizing a community, PangeaDAO's Presale has successfully closed -- netting 111.01 ETH! This article is to recap the event further. THANK YOU and congratulations to everyone that participated. We'd also like to thank those that plan to join us in the Public Sale and all our frens that are active in Pangea's Discord. We appreciate all of you and we are dedicated to continuously connecting with the community as we further Pangea's mission.
Pangea was founded out of the ideology that Metaverse participation should be open to all. Creators should have access to all methods of self-expression, and investors regardless of size or affiliation should have an equal opportunity to benefit. We believe in standing by our ethos, and not sacrificing decentralisation of the DAO. Therefore, Pangea did not seek nor accept any early investment prior to allowing our early contributors access to the Presale.
However, it costs resources to start a project with a strong, long-term foundation. The core team has worked tirelessly to build Pangea, bootstrapping every step of the way. We work for Pangea and Pangea's community, and will continue to do so. Our journey thus far has been entirely through bootstrapping, so we are really looking forward to kicking things into overdrive now that we have some funds. All the funds raised in the Presale will go towards adding incremental value by demonstrating our vision and our effectiveness, then launching the best possible Public Sale. Any additional funds that do not get used will go directly into the Pangea Treasury.
The Pangea Presale lasted from 18th April until the 20th April, with the maximum contribution per wallet capped at 1 ETH. The decision to cap the max contribution of the Presale was made so that Pangea does not have any individuals or groups owning a large amount of tokens at such an early stage and our community isn't dominated by a few whales. This also circles back to the ethos Pangea was founded upon, as even at the Presale level, we were seeking to create a level playing field for all participants.
Overall, we are extremely pleased with the results of the Presale. We needed a minimum of 60-70ETH to make the project viable - and we blew that out the water and surpassed it by almost double! Additionally, the IBCO-style we adopted was fair as all buyers got the same price, but activity really heated up in the last few hours of the Presale. The closing price of $PNGA was about $0.06 and the price discovery led to a healthy market cap for Pangea that leaves plenty of room for sustainable growth for our early investors and supporters.
We got rugged by Mailchimp and couldn’t reach out to everyone on the Allowlist who provided contact info. We tried to reach out to everyone individually through socials or personal emails, but apologize to anyone on the Allowlist that wasn't able to participate in the Presale.
Total Contributions: 111.01 ETH
Total People that Contributed: 184
Current Rate: $45,041 $PNGA / ETH
Current Price: 1 $PNGA = $0.06363
The core team has elected to change our public launch method and are moving away from CopperLaunch. We believe this is in Pangea's best interests and will be releasing more information soon. This change mitigates Pangea's need for initial liquidity and will allow Pangea to use Presale funds entirely on growth initiatives pushing Pangea forwards to our launch, such as driving our marketing efforts and purchasing Metaverse land.
The funds from the Presale have been moved to a Gnosis Safe Multisig, which the 5 core team members from Pangea have access to. This will help to prevent unauthorized access to Pangea's assets as well as serving to increase transparency into Pangea fund deployments.
We are delighted to have our early community on board with our vision! The Metaverse is going to be a robust and vibrant span of experiences... and access to special experiences can be enabled by the contents of our digital wallets. One of those experiences for Pangeans is a special channel in Discord for contributors to the Presale. To start, we are opening a Discord channel for all the contributors to the Presale, to give more possibilities to contribute with ideas, suggestions and feedback. We will to integrate all of the new DAO members to help Pangea grow as big as we all envision it can be. To commemorate our Presale success and begin providing special access to our Community, we will be airdropping an NFT to all Presale contributors. This item will be your key to special gated-access experiences and we'll seek to add utility to holders of this asset as it represents an early token of belief in Pangea's vision.
Now that the Presale is over, we will be redirecting our efforts towards the public launch. We haven’t set a date yet, as we have a few milestones we want to complete before the Public Sale to ensure that Pangea continues on a growth trajectory. Dates and details regarding the Public Sale are coming soon, and we will be posting updates about this frequently via Discord and Twitter. We will also look to expand Pangea's community by forging partnerships with DAOs, Guilds, Worlds, and Service Providers. We have some partnerships in the works, but are not able to disclose before deals are finalised! We will also look to onboard new communities through our partners.
We will be publishing more info on Pangea's Tokenomics, Governance, and Investment Thesis in the coming weeks. We are working on an expansion series on the utility of $PNGA to further illustrate our plans regarding our Grants Program for Creators, In-Kind Contributions for Land Owners, and discounts for Pangea Partners. We will also be outlining Pangea's Governance frameworks & tools and Investment Thesis for deploying funds through additional publications. We are honored by the support we have received for our prior publications and are excited to continue to share information about Pangea and provide educational Metaverse content!
Thanks to everyone. If you’re in the community, whether you bought in or not, please reach out with ideas if you want to participate. We have had a lot of great suggestions in the DMs, and submitting a proposal to the core team is the best way to get involved at the moment. Follow Pangea on Twitter to stay informed, apply to the community Creators Guild & join our Discord to participate, and stay tuned for more exciting updates!
Sooner than you think.