Advanced Blockchain’s portfolio company, Alluo, has completed its Initial Dex Offering
Alluo is an early portfolio company of Advanced Blockchain. We have continued to support their efforts by deploying resources from across our AB Capital, AB Labs, and AB Research divisions. Our team at AB Capital has worked extensively with their founding and management team to best position Alluo for their successful early fundraising rounds as well as their latest Initial Dex Offering (IDO). Their IDO just recently came to a close where they successfully auctioned off ALLUO-Tokens at a total token valuation of $50M.
Advanced Blockchain is an early supporter of Alluo and continues to deploy resources to help realize their vision
Advanced Blockchain has been a long term supporter of Alluo. We were introduced to the project early as the co-founder, Rémi Tuyaerts, was previously the co-founder of a project that Advanced Blockchain invested into and helped guide to a successful exit in 2021.
“Advanced Blockchain has played an instrumental role in the success of our protocol. I am personally thrilled to once again be working on a project with them as partners and investors. Our IDO marks an important milestone in our roadmap and with the continued support of partners and collaborators like Advanced Blockchain, we are well on our way to bring DeFi to everyone.” commented Rémi Tuyaerts, co-founder of Alluo and successful serial founder.
Advanced Blockchain was allocated ALLUO tokens in return for our extensive support as well as an early investment in Alluo. Our efforts extend beyond capital as we have deployed valuable resources in the scope of strategic advisory, networks for fundraising, project management, administrative services, and development support. Furthermore, Robin Davids, our Chief Strategy Officer, commented,
“Alluo has the potential to make decentralized financial services accessible to everyone. Their innovative cross-chain technology and the management team's past successes drives us to continue supporting Alluo's growth” - Robin Davids, CSO of Advanced Blockchain.
Alluo has the ultimate goal of bringing DeFi to everyone. Alluo will enable users to save, spend, borrow and invest with a simple mobile app, differentiating themselves as a non-custodial wallet on polygon. Non-custodial means that the wallet’s private key is with the user, not with Alluo. Additionally, Alluo is also a cross-chain yield optimisation and liquidity direction protocol that directs the liquidity coming from the mobile-app users to different protocols such as curve, convex, anchor and others.
About Advanced Blockchain
Advanced Blockchain AG is a venture builder and investor in the blockchain industry with an extensive team of analysts, developers, programmers, economists, and mathematicians dedicated to developing the future of Web 3.0. Group-wide, the team consists of more than 200 members, covering various disciplines enabling the firm to innovate in different ecosystems of the industry.
For more information about Advanced Blockchain and our various projects and investments, please visit our website.