Foundations and Initial Traction

During Epoch One, our efforts were primarily channeled towards product development and refining our offerings. Key achievements include:

• Completion of the CLI, SDK, and a user-friendly web app.
• Introduction of an invitation system, which will play a pivotal role in our Mapping Startups initiative.
• Development and testing of Mezze, a networking bot on Telegram. After successful trials at various events, we're gearing up to deploy Mezze during DevConnect.

Achievements

Our market presence has been steadily growing:

• We onboarded via SAFT 26 global investors, expanding our reach and solidifying our financial foundation.
• We're proud to announce our acceptance into the Hansa Accelerator Program, a testament to our potential and the value we bring to the table.
• We’ve been working with 6 Advisors covering funding, product, growth and Business Development.

During Epoch One, we successfully sold 1,064,719.23 $CTX, equivalent to 319,415.77 €, through SAFT. These tokens will be minted at the onset of Epoch2 and will adhere to a 6-month vesting period. The allocation from Epoch2 is as follows:

• 1,000,000 $CTX for SAFT allocation
• 64,719.23 $CTX designated for partners

Mapping Startups Initiative

In our pursuit to further the reach and utility of Context, we've initiated a use case for Mapping Startups. To promote this initiative and drive community engagement, we've allocated 150,000 $CTX. More details about this initiative can be found in our article: Community-Powered Mapping of Startups.

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Epoch2

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Proposals for Consideration

As we continue to evolve and adapt to the needs of our community and the broader ecosystem, we present to our DAO members the following proposals for consideration and voting:

1. Tokenomics: Approval of Epoch1

 Objective

To finalize and ratify the token distribution and allocation specifics for Epoch1. This will provide clarity on the initial distribution, ensuring transparency and trust within our community.

   

Details

For Epoch One, we minted a total of 1,500,000 $CTX with the following allocation:

• Amphion: 300,000 $CTX
• Advisors: 50,000 $CTX
• Marketing: 300,000 $CTX
• Partners: 350,000 $CTX
• DAO Treasury: 500,000 $CTX

As part of our collaboration with the Hansa Accelerator Program, valued at approximately $50,000, we will be exchanging 167,000 $CTX.

2. Tokenomics: Epoch2 Proposal

Objective

To present and seek approval for the token distribution and allocation plan for Epoch2, focusing on growth and expansion.

Details

Epoch2 is strategically designed to shift the focus towards growth, emphasizing user acquisitions and marketing initiatives. A significant part of this phase will involve mapping startups to identify potential collaborations and synergies.

For Epoch2, a total of 2,500,000 $CTX tokens will be minted. The allocation of these tokens is detailed as follows:

• Marketplace: 400k $CTX
• Amphion : 500k $CTX
• Advisors : 50k $CTX
• Marketing : 300k $CTX
• Partners : 250K $CTX
• SAFT Epoch1 : 1M $CTX

During Epoch2, a total of 1,000,000 $CTX tokens will be sold via SAFT to new investors at 0,35€ per token.

Also, we will sell to our users (a user has received a name in the Context Protocol) tokens to be used in the protocol. Every user will be able to buy 200 $CTX from the marketplace at 0,40€ per Token during Epoch2.

3. Adding a Vesting Period

   Objective

To introduce a vesting period for tokens, ensuring long-term commitment and alignment of interests within the community.

   

Details

As we diligently work on refining the tokenomics for the upcoming epochs, we have identified the need to introduce vesting mechanisms for our pre-seed investors and team members. CTX utility token holders can use the tokens to pay for Context services as soon as these are available. CTX utility token holders that wish to transfer their tokens will have to wait until the end of the lock-down period. This decision is driven by our commitment to enhance control over the supply and demand dynamics, ultimately ensuring the stability of our token's price.

We want to emphasise that vesting was not originally part of the SAFT (Simple Agreement for Future Tokens) agreements that we executed with our pre-seed investors. To express our appreciation for the trust and early support they've shown in Context, we are offering a unique arrangement: 

A 2.5% Allocation of the Tokens Received by Amphion Soft in Each Epoch to be Distributed among Pre-Seed Investors for the next 5 Years.

Tokens within the SAFT, Marketplace, and Partnership categories will be gradually unlocked over a period of six months, with a series of carefully planned emissions. Each of these emissions corresponds to a specific percentage of the initially locked tokens. Specifically, the first emission will release 10% of the tokens, followed by 12% in the second emission, 14.5% in the third, 17.5% in the fourth, 21% in the fifth, and culminating with a release of 25% in the sixth and final emission.

Context DAO Voting Process on Tally

Tally is our chosen platform for managing and executing DAO proposals. It offers a user-friendly interface, ensuring that all DAO members can easily create, view, and vote on proposals.

Voting Parameters

• Voting Delay: After a proposal is introduced on Tally, there's a brief waiting period before voting commences. This ensures that all DAO members have adequate time to review the proposal in detail.
• Voting Period: The voting window remains open for a duration of one week. This extended period ensures that all members, regardless of their time zones or schedules, have ample opportunity to cast their votes.
• Quorum: A minimum quorum of 4% is required for a vote to be considered valid. This means that at least 4% of the total possible votes must participate in the voting process. This threshold ensures that decisions are made with a reasonable level of community involvement, reflecting a broader consensus rather than a minority's viewpoint.

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Epoch3

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Objective

Epoch 3 marks our Seed funding phase. Our target is to secure $5 million in investments, based on a pre-money valuation of $20 million with a SAFE plus a Token Warrant.

Progress

At present, we are actively engaged in discussions with an estimated 30 venture capital firms. Notably, two of these firms have already expressed their commitment to lead this funding round. 

Operational Updates

Parallel to our fundraising efforts, we are diligently working on technology integration to enhance our platform's capabilities. Additionally, we are in the evaluation phase, analysing the outcomes and insights from our inaugural campaign to inform future strategies.