Shaping Our Future Together: Community Discussion on Funding Options for Strike Finance’s 2024 Roadmap

Development
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Dear Strike Finance Community,

As we stand on the precipice of a transformative phase for Strike Finance, charted through our ambitious 2024 Roadmap, we are presented with a crucial decision regarding our funding strategy. This decision will shape not only the trajectory of our platform but also how we harness the tremendous opportunities presented by the upcoming Bitcoin halving and the anticipated approval of a Bitcoin ETF.

In alignment with our preparation for critical events such as these, we are assessing our financial needs to ensure the successful execution of our strategic objectives. These objectives encompass several key areas where focused investment will drive growth and strengthen our platform

Exchange Listings: To broaden our market presence and accessibility, we aim to list Strike Finance on additional top-tier exchanges. This requires significant investment in listing fees, marketing, and compliance processes to meet the standards of premium exchanges.

Security Enhancements: With growing platform activity, we must fortify our security infrastructure. This includes funding for advanced cybersecurity measures, comprehensive smart contract audits, and ongoing security maintenance to safeguard user assets and data.

Partnership and Integration: Strategic partnerships with fintech companies, other crypto platforms, and traditional financial institutions are crucial. Investments will be directed towards integration costs, partnership management, and collaborative development projects.

Scalability and Infrastructure: To handle an expanding user base and increased transaction volume, we need to invest in scaling our backend infrastructure. This includes upgrading server capacities, integrating faster blockchain technologies, and investing in advanced data handling capabilities.

Liquidity Provision: Ensuring sufficient liquidity is essential for a smooth trading experience. Funds will be allocated for incentives for liquidity providers, integration with Automated Market Makers (AMM), and other liquidity-enhancing initiatives.

Platform Development and Feature Enhancement: Continuous improvement and innovation are key. Investment will go towards developing new features, enhancing existing ones, and ensuring the platform remains at the forefront of technological advancements in DeFi.

Research and Development: To stay ahead in the rapidly evolving DeFi space, significant resources will be dedicated to researching new blockchain protocols, developing innovative DeFi products, and improving user experience.

Customer Support and Service: As our user base grows, so does the need for robust customer support. Funding will be used to hire and train additional support staff, and implement state-of-the-art support tools and technology to provide excellent customer service.

The financial requirements for these initiatives are substantial, but necessary for Strike Finance to capitalize on the forthcoming opportunities and maintain its competitive edge in the DeFi space. Our funding strategy, therefore, is crafted with a focus on generating the necessary capital while maintaining the integrity and growth trajectory of our platform.

Allocation Breakdown:

In light of the strategic objectives outlined in our 2024 Roadmap, we have refined our allocation breakdown for the proposed $2,300,000 - $2,870,000. This revised allocation is tailored to ensure that each aspect of our platform development receives the attention and resources it requires:

Exchange Listings (30%): A significant portion, amounting to 30%, will be dedicated to listing Strike Finance on prominent exchanges. This move is critical for enhancing our visibility and accessibility in the crypto market, thereby increasing trading volume and user reach.

Security Infrastructure (16%): Recognizing the paramount importance of platform security, we will allocate 16% towards strengthening our security infrastructure. This includes upgrading our cybersecurity measures and conducting regular security audits to ensure the highest protection standards.

Strategic Partnerships (17%): 17% will be invested in forming and nurturing strategic partnerships. These collaborations are key to broadening our service offerings, gaining new market insights, and enhancing our platform’s capabilities.

Scaling the Platform (12%): To ensure our platform can accommodate growing user demand and transaction volume, we plan to allocate 12% towards scaling our infrastructure. This involves enhancing our server capabilities, improving transaction processing efficiency, and ensuring overall system robustness.

Liquidity Pools (15%): To maintain healthy liquidity levels and provide a seamless trading experience, we will dedicate 15% to our liquidity pools. This allocation will help minimize slippage, attract liquidity providers, and stabilize our platform’s financial ecosystem.

R&D in DeFi (8%): The largest allocation, totaling 8%, is earmarked for Research and Development in the DeFi space. This investment will fuel our efforts in exploring new blockchain technologies, developing innovative DeFi products, and continuously improving the user experience.

Customer Support System (2%): Finally, we allocate 2% to enhancing our customer support system. This is vital for providing our users with high-quality, responsive support, ensuring that their queries and concerns are addressed promptly and effectively.

This revised allocation breakdown is designed to strategically distribute resources across key areas, ensuring that each initiative is adequately funded to meet our ambitious goals for the upcoming year and beyond.

Evaluating Our Funding Options:

To achieve our goals, we are considering four funding avenues:

Venture Capital (VC) Investments: Partnering with VCs could bring not only the necessary funds but also strategic advice and industry connections. Our focus would be on firms that resonate with our vision for decentralized finance.

Angel Investors: Angel investment can offer a blend of capital and mentorship, providing unique insights and networking opportunities.

Crowdfunding: This route allows us to directly engage with our broader community and public, democratizing the investment process.

Strategic Partnerships: Forming alliances with industry players can open up new avenues for funding and collaboration.

Grants: Seeking grants from institutions that support blockchain innovation and development.

A Call for Community Involvement:

The decision on which path to take is not just ours—it’s yours as well. Your insights, preferences, and concerns are vital in guiding us towards the most suitable funding option. We urge you to participate in this discussion actively:

Which funding option do you believe aligns best with Strike Finance’s vision and roadmap?

How do you view the balance between securing capital and maintaining community-driven growth?

What considerations should we prioritize in making this decision?

Our Commitment to Transparency:

Regardless of the chosen path, our commitment to transparency and accountability remains unwavering. We will maintain an open line of communication, ensuring that our community is informed and involved at every step.

Looking Forward:

This is more than a financial decision—it’s a strategic step towards realizing our shared vision for a robust and innovative DeFi future. Your voice in this discussion is not just heard; it is influential.

We look forward to a vibrant and insightful dialogue. Together, let’s pave the way for a groundbreaking year for Strike Finance.

We are excited to announce an upcoming AMA session on Twitter Spaces, where we will provide a detailed explanation of our roadmap. This is a fantastic opportunity for our community to gain insights into our strategic plans and engage directly with our team. We cordially invite you to join us for this informative session. Your participation and input are invaluable as we continue to shape the future of Strike Finance. Stay tuned for further details on the date and time of the event.

Warm regards.

3 Likes
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I suggest presale instead of other funding platforms,as It will be a great improvement for the project at large

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it looks grant program good for this financial needs.
you like this or any other idea?

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If protocol get the funds from VCs or angel investors, they will get the controls of protocol?

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I suggest presale instead of ventures capital and other funding options…I believe it’s a way of rewarding strike finance members who have been committed,also I prefer the community holding our strk than other vc or something…we are worth more than that…I have been using strike for a year now.

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The funding options are okay and quite intriguing, but I suggest the team looks into the possibility of a presale for the community members who have been using the protocol, that way dumping can be avoided

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What are the funding avenues being considered by Strike Finance?

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seems like a hard working and genuine team project with a good utility, I’m happy to see that team has plan for new year. what are the pros and cons of each funding option?

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I suggest the venture capital investment.
That way there is massive potential for rapid growth and access to funding start ups from experienced investors however there maybe loss of control for founders and pressure to achieve quick returns which may cause conflict among investors

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Venture Capital (VC) Investments: Partnering with VCs could bring not only the necessary funds but also strategic advice and industry connections. Our focus would be on firms that resonate with our vision for decentralized finance.

Angel Investors: Angel investment can offer a blend of capital and mentorship, providing unique insights and networking opportunities.

Crowdfunding: This route allows us to directly engage with our broader community and public, democratizing the investment process.

Strategic Partnerships: Forming alliances with industry players can open up new avenues for funding and collaboration.

Grants: Seeking grants from institutions that support blockchain innovation and development.

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proposal looks good, not sure if grant will work atm.
VC might be reliable solution for fundraising if get proper investment.
crowdfunding will be the good option that team needs to consider.

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Awesome initiative by the team behind Strike. Really glad to see how this project is moving forward. But curious to see if there are any cons to each of the funding option.

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I will suggest Presale :

To provide early funding, build a dedicated user base,fostering a sense of community ownership and support.

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Thank you for your valuable suggestion regarding the grant program. Grants are indeed an excellent way to secure funding, especially as they often don’t require equity in return and can be specifically targeted towards innovation and development projects within Strike Finance.

We appreciate the emphasis on grants as they align well with our goals of continuous improvement and innovation in the DeFi space. Additionally, grants can provide us with the resources to explore new technologies and enhance our platform without the pressure of investor returns, allowing us to stay true to our vision and community-first approach.

That said, we are also open to exploring a combination of funding options. While grants can cover specific areas of our roadmap, other avenues like strategic partnerships or private rounds can offer different benefits, such as industry connections, strategic advice, and direct community involvement.

We would love to hear more from our community. Do you have any specific grants in mind that align with our objectives? Or perhaps other funding ideas that could complement a grant program? Your insights are invaluable as we navigate these crucial funding decisions.

Your active participation is what makes our community strong. Together, we can choose the best path forward for Strike Finance, ensuring our platform not only grows but also thrives in the dynamic world of decentralized finance.

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That’s an insightful question and a valid concern when considering funding options like venture capital (VC) or angel investments. Let’s address how these funding sources might impact the control and decision-making within Strike Finance:

  1. Venture Capital Investments: Typically, when a protocol like Strike Finance receives funding from VCs, these investors may seek some level of influence or control. This could range from a seat on the board to a say in major strategic decisions. However, the extent of their control largely depends on the terms of the investment. At Strike Finance, any VC engagement would be structured to ensure that while we benefit from their capital and expertise, we also maintain our core values and operational independence.
  2. Angel Investors: Angel investors usually provide funding in the early stages and may also expect some influence in return. However, angel investors often invest smaller amounts than VCs and might not seek as much control. Their focus is usually more on mentoring and guiding the project based on their experience. In Strike Finance’s case, we would aim to partner with angel investors who support our vision and agree to a level of involvement that aligns with our community-driven approach.

It’s important to note that in both cases, maintaining the ethos and integrity of Strike Finance is paramount. Our goal is to form partnerships that provide not only financial support but also align with our mission to democratize finance through blockchain technology.

We believe in transparent and open communication with our community about such decisions. Any potential investment will be evaluated not just for its financial merits but also for how it aligns with our long-term goals and community interests.

Your thoughts and concerns on this matter are highly valued, and we encourage further discussion on these aspects. Together, we can ensure that Strike Finance continues to grow in a way that stays true to our principles and community-centric philosophy.

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Hi Nick, Peter here again from Origin Protocol. I’d like to respond to a few points in your post, with regard to the proposal I submitted months ago to the forum.

Adding OUSD to Strike would cost the same amount as adding any other ERC20 token, which should be minimal. It would add immediate benefit to all Strike users, giving them the ability to loop the OUSD market to capture the highest yields in all of Defi. Given the results of the poll from November, the community knows this.

The Strike protocol makes money when people borrow from the protocol. Adding new markets is directly correlated to the amount borrowed from the protocol. Why Strike has ignored the idea for new asset markets, and to other partners trying to build with Strike, is beyond me.

No other lending protocol in the world has yet added OUSD, Strike could be the first - which would mean Strike would have the full marketing support of Origin’s marketing team, and Origin would likely seed the market to ensure there’s plenty of liquidity available to borrow.

@nick, if you’re still reading, I think it’s time to set up that discussion you wanted to have, if you’ll respond to any of the tags or messages I’ve sent you.