Dear Investors,
DLC.Link is at a pivotal moment, making significant strides in funding, partnerships, and product development.
Though we thought our Pre-seed round will be our last raise until launch, we’ve ended up securing a surprise Strategic investment round in record time.
We’re delighted to see that, after two years of focused work, our innovative approach to Bitcoin DeFi is gaining widespread recognition and support.
Epicenter Podcast Feature: I had the honor of being featured on Epicenter, one of the oldest and most respected crypto podcasts.
In this episode, I discuss DLCs and introduce our upcoming product, dlcBTC, a safer alternative for wrapped Bitcoin launching in March.
This exposure is a testament to our growing influence in the crypto community. Listen to the podcast here: Aki Balogh: DLC Link – Self-Wrapped Bitcoin (dlcBTC). Ep. 526.
Strategic Funding Round: We are in the final stages of closing a strategic round, attracting investments from OKX Ventures, Foresight Ventures, Animoca Ventures, CGV (a prominent Japanese fund), Web3.Com Ventures and Michael Jin of OP Crypto, with a few more confirmations pending.
This round will raise approximately $800k, bringing our total funding to nearly $3Mn.
Beyond the financial aspect, these strategic partnerships will provide us with invaluable support and resources, further enhancing our position in the market.
Mentorship at CDL Montreal: We've been assigned an exceptional group of mentors for the next eight weeks.
Mathieu Baril, a Defi/Curve expert, will lead our mentorship team.
Joining him are Christian Catalini, co-founder of LightSpark and Libra (who works with Tadge Dryja, the creator of DLCs), and Allan Matheson, who manages a liquid token fund with extensive experience in trading wBTC.
Their expertise will be invaluable in guiding our strategic direction and product development.
We are excited to launch dlcBTC to bring safe, robust DeFi options to Bitcoin.
We look forward to leveraging these new partnerships to enhance our mission of enabling a truly decentralized financial system.
Overview
We are finalizing product design decisions around dlcBTC. dlcBTC is a self-custodied wrapped Bitcoin token that will enable Bitcoin holders to more safely use DeFi protocols such as Curve and AAVE
We’ve selected MetaTrust, a fellow ABCDE Capital portfolio company, for our second security audit. MetaTrust implements formal verification and showcased creative use of GPT. Also, they offer an ongoing monitoring service that differentiates them from others
We are exploring using FROST, a cutting-edge Bitcoin technology, in conjunction with DLCs to enable more flexibility in our Attestation network
Sales and Business Development
Currently, our main focus is expanding the number of institutional Bitcoin wallets that support DLC signing. We’re in early discussions with MPC wallet (e.g. Fireblocks, Cobo, BitGo) and with hardware wallets (Ledger, OneKey)
We are evaluating several market makers for dlcBTC as well as for $DLC token in Q3. We are also in early discussions with token listing teams at CEXes including OKX, Binance and others
Initial Attestors identified; we’re in discussions with leading node operators, including Republic, ChorusOne, Dextrac and others
Marketing and PR
As mentioned, I was recently interviewed on Epicenter, one of the longest-running crypto podcasts. In this hour-long interview, Meher Roy (co-founder of ChorusOne) and I discuss DLCs, dlcBTC’s product suite, our Attestation layer, dlcBTC tokens and our plans for our dlcBTC Merchant system.
If you have invested in dlcBTC, I highly recommend you take an hour and listen to it here: https://youtu.be/lp-AW11vHQ4
ABCDE Capital published a research report on us. BMan, their founder, calls us the
“most optimal solution for bringing BTC into other ecosystems.” See: https://twitter.com/BMANLead/status/1729059893129429428
Our latest video explains how DLCs secure Bitcoin on-chain without the need for validators, avoiding the pitfalls of bridges and other wrapped tokens. See: https://www.youtube.com/watch?v=nSOmBWkPNko
Check out the Media section on our website! This section contains blog posts, case studies, videos and a newsroom where we highlight PR features. See: https://www.dlc.link/media
We invite all investors to join our Telegram community at English: https://t.me/dlcbtc
For native Mandarin speakers, you can join our Chinese community at https://t.me/dlcbtc_cn
Follow us on Twitter at https://x.com/dlcBTC
Testimonials
A few recent quotes from our fans:
"We see dlcBTC as a foundational building block in DeFi, with the potential to become a multi-billion-dollar business. " — Nicole Liu, Comma 3 Ventures
"dlcBTC is making Bitcoin more composable & usable in DeFi" – Oliver Birch, Global Head, Chainlink BUILD Program
"You're sovereign Bitcoin for everything else” – Leading Bitcoin Investment Fund
Product
The testnet demo of dlcBTC is now live! View it here: https://x.com/DLC_Link/status/1730591180667170950?s=20
We have been documenting security protocols, focusing on technical vulnerabilities and economic risk management. We are developing Standard Operating Procedures for emergency situations
In preparation for the launch, we are in early discussions with risk managers, tokenomics experts, insurance carriers and regulators.
Their feedback will help inform our design decisions and will stress-test our assumptions
Team
We are thrilled to welcome Peter M Moricz (PMM) onboard full-time as our new Partnerships Lead.
With over two decades of experience as a professional trader and his immersion in the crypto space since 2016, Peter brings a wealth of knowledge from his involvement in ICOs, developing various stablecoins, managing investment funds, and numerous other projects.
My close collaboration with Peter has already been fruitful, and I am looking forward to the innovative directions this partnership will take us
Finance and Fundraising
As detailed in my introduction, we are finalizing a Strategic investment round from OKX, Foresight, Animoca and others. Once the round is complete, we will publish an announcement on our blog and on Twitter. Stay tuned for more details!
After securing this unexpected round of capital, we are pausing our fundraising efforts. However, we look forward to initiating our $5M seed round in March 2024, focusing on strategic partnerships that align with our long-term vision and objectives
How You Can Help
We are securing a minimum of $10 million in BTC liquidity for our March 2024 launch and are actively looking to speak to Bitcoin holders who are interested in using their BTC in DeFi on Curve.
dlcBTC depositors gain the ability to mint and burn dlcBTC, earn revenue from arbitraging the dlcBTC-BTC peg, swap fees, and $CRV and Eth L2 ($ARB/$OP) token yields.
Additionally, you'll be eligible for points toward a $DLC token airdrop later in 2024.
If you are interested in being a dlcBTC depositor, please contact me via email ([email protected]) or Telegram (@akibalogh).
PS – Missed any of our previous Investor Updates? Read past editions here: https://bit.ly/dlc-link-investor-updates
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