Kalao
3 min readOct 3, 2021

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August and September were very busy months for Kalao, closing fund raising rounds, completing the TGE and having $KLO listed, while building Kalao products in parallel.

Seed and Private Round

As announced already, we were humbled by the interest we received from VCs, angel investors, community and beyond. We successfully closed our fundraising rounds of $2.78M which will help to deliver our ambitious roadmap.

$1M from seed round with trustworthy and solid VCs, supporting us in developing the company and its vision.

$1.78M from private round with investors coming from more than 30 countries.

Bounty Campaign and Private sale compensation program

We’ve also conducted 2 bounty campaigns since we wanted to thank the amazing community and compensate somehow investors who were not selected as part of our private round. Indeed, we were more than 20x oversubscribed on the private round alone and it was therefore impossible to onboard everyone.

It’s a bit more than 3M tokens that have been distributed to more than 2,000 participants.

IDO

Thanks to Avalaunch great team and platform, we’ve also successfully closed our IDO and raised closed to $550,000. This is in total 13.54M tokens which have been sold to 8,549 participants.

211,648.693 unsold tokens due to guaranteed allocation mechanism on Avalaunch platform have been burned.
https://cchain.explorer.avax.network/tx/0x0e7b0c542e21306313a9f89517e5fba043cb35ebb2cf66ab0058678bf524ae97/token-transfers

Vesting

We’d like to take to this opportunity to remind vesting schedules as follows.

Should you have missed it, you can find a step-by-step procedure in a Medium article to guide you on how to claim your tokens here:

https://medium.com/@Kalao/kalao-sales-and-bounty-rewards-follow-up-fb2dbcb9f32c.

Listing

$KLO has been listed as of September 27 on TraderJoe platform and Gate.io respectively at 2:00PM UTC and 3:00PM UTC.

We’d like to thank both TraderJoe and Gate for their support since Day 1 to make these listing as smooth and successful.

We also burned the Joe-LP tokens to ensure to our community that the liquidity added on Trader Joe will be remaining forever.

Below is the TXiD:

https://cchain.explorer.avax.network/tx/0x3d58747404094b1ab2dd61a183cab20993394c4aeefd5815db2a70fd6b0c77d9/token-transfers

Product Launch date

We’re happy to confirm the launch date of the Marketplace as well as Kalao Vision which is our Gallery concept on Nov 8 at 2:00pm UTC.

Public sale and TGE were initially planned in Q4 while the launch of the marketplace was planned in September. We’ve decided to swap both events and we can now focus fully on developing Kalao strategy and its products. We’ll provide an updated roadmap in the next coming days taking into account these changes highlighted before.

The whole team is full speed on building solid tech, working on partnerships with great projects and platforms, and preparing a successful launch.

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