Can you believe it, a project on par with other massive projects like
@wardenprotocol only raised a mere half a million dollars?! No need to answer, I know you'll say no, it's unbelievable! ๐ฑ
Since surprised by the impressive achievements that the team had achieved & also a bit curiosity, I tried to carefully search some info about the Funding of
#WardenProtocol .
But it's a coincidence that a few days ago, when there were some users who kept asking about the same aspect as me above like "How much $$$ has Warden Protocol raised?".
Then
@Akash_Mishka responded with a short but profound thread with the implication that "The success of the project does not lie in the amount of $$$ fundraised or the number of followers they are on X".
As for his specific post, I will leave it here for anyone to dive deeper into๐.
x.com/akash_mishka/status/19โฆ
With my long experience in this crypto space. I asked myself a few questions and also wanna to ask you guys back:
1. Should we believe that
#WardenApp will only raised just over $500k in 2024 as reported by
@CryptoRank_io?
2. Have we seen any projects that have succeeded not depend of funding from VCs or angel investors but cus of vision and how to operate real products in the long term?
Now! Let's break it down ๐งต:
Before diving in, i also want to note that there have been misleading and hype posts by someone on Binance Square saying that Warden raised $50m ๐คฏ, yeah it's fake info. Why? cus simply if he knows this info, there is no reason why we don't.
1. To answer this first question, let's assume two sides of a thing, what if it's true? what if it's not?! is there any problem?! NO, NOTHING AT ALL!!! In both aspects, everything is fine:
โ๏ธ If the level of capital raising only reaches $534k in 2024 is real, then that's fine.
- As you know, Warden Protocol is currently operating with a total workforce of no less than hundreds of elite employees, not to mention core members. The cost for a few years for them to maintain the number of people mentioned above is also a respectable number.
- Besides! not to mention the many costs incurred that they may have to face to maintain a Warden of caliber that is still standing & growing so far.
- So, if it is assumed that the amount of money raised is not enough to maintain the cost in the past time, where did they get it?!
It is a conundrum that any project will hardly want to face. Maybe it comes from the team's own capital? they probably don't want the survival of a platform to depend on VCs, they want the platform to growing naturally without manipulative pressure from investors.
Yeah maybe you see what I'm saying will tend to allude to what Akash mentioned about "HyperLiquid" and they don't have any initial investors almost like the current of Warden. The fact that Jeft Yan, CEO of
@HyperliquidX "refused to raise funds" from investors is likened to the way that David Pinger, CEO of Warden Protocol is doing. Born after the 2022 crisis, you already know how the incredible success of
#Hyperliquid took place.
- Warden currently has a huge number of users that some project must dream of, I'm talking about the number of active users. Warden is also likened to blockchain Layer 1 AI-Native where they have plenty of power to lead the future trend of
#AgentFi .
They have the ability to raise huge capital, they are invited because any investor must covet what they are almost achieving with their own hands.
- In the end, almost no VCs or no big gain from IDO. It's okay, the less dependence on VCs, the better, besides Warden currently has a stable source of fees obtained from the large number of hundreds of thousands of active users every day, I will clarify in the answer to the second question.
โ๏ธ On the contrary, if you still insist that they only raised 500 thousand dollars, is still unbelievable, then let's say.
- There may have been secret agreements that have been going on about what Warden is working with VCs or angels. That's very possible, guys.
- There are things that even
@CryptoRank_io or
@Crypto_Dealflow cannot fetch data because it may be secret agreements that Warden does not want to make public. For example, a guy on Binance Square that I mentioned above may know some interesting things. Just kidding ๐
.
- Despite everything whether right or wrong in everyone's vague hypotheses, whatever! What I want to say is that I don't really care much about this. I will move to the main focus of this post right now, which is the second sentence in the answer. ๐
2. To answer the second question above, is there any self-reliance project in the past that has ever been successful based on products and visions but that are very little dependent or almost no Funding from VCs?
โ๏ธ Let's go back in history a bit to be able to name a list of such Defi platforms that have existed. Can mention
@Uniswap @aave @MakerDAO (i.e
@SkyEcosystem )
@LidoFinance @yearnfi @RocketPool_Fi and the youngest name is
@HyperliquidX etc. That's it, the answer for you is that there are countless projects like that have been and are out there.
โ๏ธ Now come back to Warden to see what they have achieved! But deep down I still believe that the source of revenue from new products is the key for them to confidently become a solid platform in the long term, they have the advantage of a large number of users and very valuable Agents, not from any VCs.
โ๏ธ In their trio of notable products that are being deployed including
#WardenApp #SpaceWarden #WardenStudio, I will only emphasize the main product WardenApp. Let's go into detail.
- According to official statistics on WardenProtocol's site, they currently have a total of about 8.5m users including about over 300k daily active users ๐ณ WTF! It's terrible, isn't it? And yet, their each agent is generating $1k - $3.5k daily. This profit figure will not stop because they have now integrated many new Agents.
- The list of Agents currently active on Warden is
#Uniswap,
#Jupiter,
#Debridge,
#Messari,
#Kaibot,
#WachAI,
#BaseFarmer and the original agent is
#Warden.
- Assuming the average revenue of each Agent is $2k per day, if out of the 8 Agents above, only 5 Agents are active creating platform fees, then Warden App is currently earning about $300k per month OMG ๐ฑ.
- That's not all. Did you forget the recent NFT collection called Pre-Early? It's a membership subscription with 4 levels from basic to premium with different fixed prices.
Based on the 300k active users, even 1/3 of the users minting this NFT will make Warden earn a crazy amount of money.
- If you own it before they close the minting window, it means you are facing a great opportunity to become an exclusive member with many great benefits not to mention the PUMPs multiplier or airdrop weight. The reason why you should mint this nft I will talk about in another post in a few hours. Just IMO but NFA.
With such large profits and solid underlying income from such valuable products, does Warden need funding from VCs? OFC! NO NO NO.