AngelBlock: THOL Token Generation Event & IDO
On February 15th, 2023, the THOL token was successfully deployed on the Ethereum Mainnet. This is just the next stop in our long roadmap to truly decentralize and democratize the fundraising space for crypto. Although this is a milestone event for the entire AngelBlock team as well as for our longtime supporters, we fully understand that our journey and mission is essentially just beginning.
THOL Token Generation Event
The THOL TGE is just the first step of many for the AngelBlock protocol, and although it may not seem as significant as other milestones, there is a lot in play behind the scenes. For early contributors, it is a milestone event against which token vestings are set against. The team generated the entire supply, which was separated into the different categories as per the updated tokenomics, which coincides with vesting and token unlocks. Available or circulating supply was also moved to team multisig wallets to prepare liquidity for the IDO as discussed later in this article.
However, over and above the semantics of a token TGE, what else does this mean for AngelBlock? First and foremost, it represents the decision made to finalize and set the tokenomics in stone. There will never be more than 400m THOL, and the categories are finalized for their various purposes. Another aspect is the representation of the AngelBlock native smart contracts that are live on the Ethereum mainnet, having been coded by the team over the last two years. It inherently represents the succession of the multiple smart contract audits conducted which allows future participants in the AngelBlock ecosystem to have peace of mind on security to a certain degree.
Ultimately, the TGE represents the ceding of the research and development phase to the implementation phase. Although we believe development and innovation will happen consistently on the platform, AngelBlock now has a foothold on the industry from which to build and expand.
Initial Dex Offering and its significance
The AngelBlock IDO represents the $THOL token being available for the first time on the open market. This means Tholos is now available to the world. The IDO process itself culminates one moment into months of strategy and planning, which was conducted in a way to ensure safe and secure swapping of the token early on. The team also implemented anti-bot measures to protect initial liquidity from sniper bots and allow for organic price action at launch.
The Tholos launch symbolizes the start of the token lifecycle. From this point new holders, price points, demand and more can be determined. Although price does not necessarily represent the value of a project, it is the point of inception of how the token is viewed by community and interested parties.
Why is the token important
Tholos, being the native token for the AngelBlock protocol, is essential for securing the project in a number of ways. Tholos has multiple use cases when it comes to utility:
- Governance over the investment fundraising protocol
- Essential for nominator and validator entrance to the staking protocol, hereby contributing to the decentralized due diligence of new projects onboarded
- $THOL used for gas
- Entry and level determination of tiered holders for premium use of the platform
- Use of services such as on-chain vesting and capital table management
- Access to API for private raises.
Over and above price points on the chart, it’s important to note that having a token with multiple utilities adds value qualitatively. The AngelBlock team has been focused on giving Tholos great use cases to incentivize long term holding and benefit the true believers in the project.
Both the Token Generation Event and the Initial Dex Offering symbolize the official start of the project lifecycle post-seed raise and essentially establishes the first official milestone on which to build the project roadmap from. The team has been strategizing on new and improved updates and milestones over the past few years, changing and adapting with the market to provide the most comprehensive product possible. Tholos is at the core of all development and platform enhancements, and platform innovation will always go hand in hand with additional token utility moving forward. This is the beginning of an exciting period for the entire community and all who use the AngelBlock platform.