Incubation
Fund your project through Alchemist
Introduction
The Alchemist incubator is a service for founders and builders looking to build out and grow their ideas and projects into products.
Projects that potentially add value to the Alchemist ecosystem are eligible to receive funding through the Alchemist Fractal.
Proposals are submitted via Discord to the Alchemist Council and are analysed using an ROI-based approach to consider how Alchemist could best assist them and the value that they’ll add to the ecosystem.
Alchemist is committed to expanding our ecosystem by financing, incubating, and empowering small agile teams to build products that solve problems and grow our community. We encourage experimenting with innovative ideas that flow value both to individual project teams as well as the greater Alchemist ecosystem.
There are no limits to the level of funding projects can receive through the program. Previous projects have received between $500 and $650,000.
All project funding is paid in $mist.
Who should apply?
Alchemist is looking for projects that are complementary to our ecosystem. We encourage experimentation and building world-first products or technologies.
While the program is targeted at founders, product managers, and engineers building new products, we also welcome any other project types that add value to the ecosystem. This could include (but not limited to) design, community building, integrations, marketing, and much more. You are only limited by your imagination!
Projects will be analyzed using an ROI-based approach to consider the value that they will add to the ecosystem. This ROI will consider both direct value (revenue generated and distributed to LPs) and external value to the alchemist ecosystem (driving users to other products, community building, etc.).
Funding:
Eligible teams can apply to be fully or partially funded through the Alchemist Fractal.
Access to builders:
Alchemist has a pool of experienced builders who may join project teams, assist with development/integration into existing products, or offer technical advice.
Community building:
The Alchemist community is strong,passionate & well-versed in the industry.
Design:
Alchemist has designers who are on-hand to provide designs to ensure products look great and are up to speck with what is required for success.
Marketing:
Funded projects will be promoted across all Alchemist channels to help with user acquisition and brand awareness.
Business development:
Funded projects will have access to Alchemists network of projects and a bizdev team to assist with building external relationships and partnerships.
Key point of contact:
Funded projects will be assigned one key point of contact at Alchemist. This person will assist in the application process and introductions to the relevant stakeholders within the ecosystem.
Access to Alchemist tech:
Advice and assistance with integrating with technologies such as Flashbots, NFTs, and more. Where relevant projects have access to launch their token through Copper, set up a liquidity mining program through Crucible, and get direct access to other technologies within the ecosystem.
In return for fully funding a project, all arising revenues are distributed as follows:
- 50% to $mist holders via the Aludel program
- 40% to the product’s founding team members (distributed at the team’s discretion)
- 10% to the Fractal for funding future projects + service teams
If a project is only partially funded or involves the creation of an additional token - add any revenue plans and suggested distribution schedule to the proposal for review.
If the project is non-revenue generating, be sure to outline how it benefits the Alchemist ecosystem.
(1) Before you start
Ensure you are active on the Alchemist Discord channel as this is the primary channel for both the community and the project development and operations. Discussions surrounding funding applications will all be handled here.
(2) Create your proposal
We recommend you utilize this proposal template as it is generally the best structure to ensure an informed discussion on your project. However, you are free to add more details or change up the structure if you deem it to be beneficial.
Building a proof of concept within Chaos Labs and gathering community feedback is a great way to set yourself apart from the crowd and to show market demand.
(3) Submit your proposal
Submit your proposal to the #Incubation-proposals Discord channel with the heading “NEW PROPOSAL” followed by the proposal.
(4) Review, Feedback, and Revision
The proposal will be reviewed, and any questions or suggestions will be discussed in Discord. We may set up a call to chat about the project in more depth and may request some amendments to the proposal.
(5) Decision
The proposal will then be put to a vote amongst the Alchemist Council. A simple majority is needed for approval.
(6) Onboarding and funding
Once approved, you will be designated a key point of contact (if not already assigned) who will be there to answer any questions you have and introduce you to the relevant channels and people. The funding will also be released in line with the milestones outlined in the approved proposal. If you need additional manpower, you can pitch to the Alchemist builder pool to find new team members to help with the project.
(7) Build
Now comes the fun part - building and shipping world-changing products. We will be by your side to help along the way! When it comes time to launch, you will link up with the relevant marketing, BizDev and community teams to hit the ground running.
Have more questions?
Reach out to us in our Discord to chat further!
Last modified 3mo ago