Introduction: Jakob Pagitz and Mariza Wellesley-Wesley, co-founders of Green Edge Cloud Austria (a certified farmer on the ThreeFold Grid), are raising a seed funding round for their services company, G-IT Services GmbH (G-IT), which will greatly benefit the ThreeFold DAO and generate an attractive return on investment (‘ROI’) for G-IT investors.
Background: Unlike Green Edge Austria, G-IT will not invest directly in building or operating Supernodes on the TF Grid. However, the founders of G-IT have extensive knowledge and experience of TF Grid farming operations because of operating Green Edge Austria Supernodes in Vienna and Salzburg since 2019. They bring this knowledge and experience to G-IT.
G-IT will now seek to raise funds from accredited investors to invest a substantial sum in INCA and to buy sufficient TFT to establish L2 and L0 Validator Nodes. G-IT will also pursue yield farming opportunities across several blockchains and invest in Validator nodes on third party blockchains that run on the TF Grid e.g., POKT.
• Size of G-IT funding round = Euros 5M
• Investor Type: Accredited Investors, minimum Euros per investor 50K
• Target completion date: 31 May 2022
Use of proceeds:
o Purchase of several million INCA tokens
o Purchase of several million TFT to fund Validator Nodes
o TFT staking initiatives
o Yield Farming initiatives including Liquidity Pool participations
o Funding for Validator Nodes on other blockchains running on TF Grid
Impact Assessment
• Euros 2M (40% of net proceeds) will be earmarked for
INCA purchases which will indirectly fund further expansion of TF Grid Supernodes and general TF Grid expansion.
• Euros 1M will be used to purchase sufficient TFT to establish L2 and L0 validator Nodes. This will obviously benefit the TFT price.
• The balance will be earmarked for Yield Farming and staking on the TF Grid
This proposal is posted for Information Purposes and transparency. G-IT has no special requests for the ThreeFold DAO.