The dua Foundation, announced on Friday, November 25th, that they have officially started their Private Sale on AllianceBlock Fundrs. According to the press release shared with Cryptowisser, the dua Foundation is using Fundrs’s decentralized fundraising and compliance mechanisms to raise capital compliantly.
The foundation revealed that the sale started on the 23rd of November at 17:00 CET and will conclude on the 14th of December at 17:00 CET.
AllianceBlock launched Fundrs, a peer-to-peer funding platform, on Avalanche and Ethereum Mainnet networks in August. The platform was launched after years of work by Allianceblock.
AllanceBlock explained that Fundrs uses a decentralized infrastructure that allows blockchain-based projects and traditional startups, called “Seekers,” to receive funding from the platform’s users, called “Funders”, as well as provide access to other types of financing available later in the investment cycle, such as convertible loans, peer-to-peer lending and more. The Fundrs platform comes to life with the start of the first official capital-raising round.
The dua Foundation added that users who wish to participate in the token sale can get started by visiting the Seeker listing on Fundrs and following this step-by-step guide.
The dua Foundation added that it is the first project to raise capital on Fundrs, its utility token, DUA, supports the new economic system around globally-fragmented communities.
This latest development comes after dua AG, a Swiss-based startup, raised $4 million in a Series A round. The firm now plans to tokenize its over 5 million users via cryptocurrencies and decentralized technologies.
Meanwhile, dua Foundation, a Dutch-based non-profit organization and dua AG’s partner, has recently published a whitepaper outlining plans for introducing globally fragmented communities to the DUA Token and Web3 through the apps dua.com and spotted.de.
The team explained that the DUA utility token would power the ecosystem of apps (dua.com and spotted.de) which focuses on connecting people searching for relationships based on similar traits such as values, education, religion, origin and language. The token will also be used to purchase in-app subscriptions, and businesses can use it to advertise their products and services to dua’s user base.
While commenting on this latest development, Ardit Trikshiqi — Chief Payments Officer at dua.com, said;
“The launch of the DUA token is an innovation for the matchmaking industry. DUA will enable 5 million users of dua.com and spotted.de to engage in a participative virtual economy that offers a wide range of services and is growing exponentially every day and millions of individuals and businesses, part of globally fragmented communities that are not being supported by traditional financial providers such as banks or money transfer operators.”
The dua Foundation added that its ecosystem would offer communities who don't have access to traditional financial services a simple way to access and participate in DeFi services directly inside the apps. With an in-built wallet, users will have access to on-chain remittances, payments, and borrowing opportunities.
The funding round for dua creates a transparent, fair and equal opportunity for users to participate in the early stages of a project's life cycle, the foundation added.
Dua Foundation is a Dutch-based non-profit organization central to promoting, growing, and developing globally fragmented communities.
Meanwhile, AllianceBlock is building seamless gateways between TradFi and DeFi by remedying issues in both spheres and linking them more closely. AllianceBlock sees the future of finance as an integrated system in which the best of both worlds can work together to increase capital flows and technological innovation.