Neemo Finance: UCG application grant

Governance dApp Staking Applications
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Neemo Finance is absolutely killing it! This thing was amazing from the release on Astar EVM to almost 18M $ASTR in TVL and was done so shortly. Main staking directly from Astar Parachain is so huge, and so easy now for users.

And regarding the Loyalty Badge Program-Great to see users get their rewards every week at an average of 120 ASTR per user, nothing compared to a small thing. Also, the clean audit report provided by Hacken proves that one is serious about security. Of course, it would be even more interesting to see what happens with live Soneium Minato and mainnet launches. Let’s go, Neemo!

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146

Hi @pithecus, thanks for your reply. I can’t disclose details about the new protocol yet, but aside from nsASTR, we are developing two other protocols, one of which is already confirmed. As for features, the Parachain/Native staking development is complete, and we’re also working on rapid withdrawals and another confirmed feature. We may also develop a StableDEX, CDP, and other products aimed at mass adoption. We are actively working on fundraising and partnerships to support these efforts.

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Hi @Matt
Thank you for your kind words. While we worked hard to gather 18M $ASTR before the Subvoting Period, it was only possible with the cooperation of everyone involved. We believe we can grow our TVL even further in the next Subvoting Period, and we have some major announcements and campaigns prepared for that. Thank you also for mentioning Parachain Staking. We will continue to develop what everyone truly needs and build trust as we move forward.

Loyalty Badge holders have been supporting us from the early stages, and we plan to give back even more in the future. Neemo is still in Tier 3, so there’s plenty of upside potential, and we are considering additional incentives.

Thank you for your mention of security as well. In addition to Hacken, we have a peer auditor within the team who regularly reviews the code. We’ve also implemented SphereX to halt any transactions with abnormal behavior. We take security more seriously than most other protocols.

Lastly, as mentioned above, we are committed to continuously developing what the community truly needs and building trust. We appreciate your continued support.

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148

Thank you for your support!

Brief intro: I manage BizDev & Community at Neemo Finance.

Just DM’d you on Telegram (@coinguin). Let’s connect and explore collaboration opportunities for Minato Testnet and Neemo’s future initiatives!

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149

Thanks for the update. Looks great!

Your project is making excellent progress towards Soneium’s mainnet launch. I also appreciate that joining the Soneium NFT Alliance at Sonova recently shows you understand the movement. Please keep up the great work.

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150

Thanks for the report.
Great work on the contract, as there have been 0 findings.
And the metrics look good. Would be nice to see some graphs in the future how these metrics improve over time.

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Hi @psneemo , it is glad to see Neemo Finance on the LFGM campaign, and there are tasks on a daily basis which allow users to know and utilize Neemo Finance when the Soneium mainnet goes live.

We are highly looking forward to seeing any updates (or the monthly report) during October, so that the community also is able to follow and be up-to-date with Neemo Finance.

Feel free to let me know if anything should be further clarified.

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Sure, I will share a summary of updates soon!

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thanks, @psneemo look forward to it!

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154

Hey guys GM GM i rlly love this project and i would like to connect with core team here is my twitter x.com

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I’d like to ask a quick question. I understand that Neemo Finance had a campaign/activity with Soneium that received quite positive feedback. I’m not sure what plans or roadmap the project has for future activities. Perhaps we could help support in some way? =)

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156

Hey apologies for the delay! Here’s our most recent monthly summary:

Astar Forum Check-In III (October)

At Neemo Finance, we are pumped to report that we have been on track with our development roadmap and have made pivotal headways in our growth. Here are the key highlights from the previous months since our previous check-in:

  • Reaching 100M $ASTR TVL: We’ve crossed the 100M $ASTR TVL mark during the most recent Voting sub-period. This has also led to a 100% increase in the total rewards we distribute via our Loyalty Program. As we acquire more TVL, rewards for stakers/participants in our Loyalty Program will increase.
  • Official Soneium Spark Winner & Soneium Testnet: In the month of October, we were officially announced as Soneium Spark winner, alongside several other great protocols. We also introduced our Soneium Minato testnet. So far, we’ve gotten 5K+ users checking our testnet!
  • Developments and marketing on Soneium: We’ve been hard at work at building on Soneium. We’ve hosted AMAs, marketing campaigns and more in partnership with leading protocols on Soneium such as Sake Finance, Untitled Bank, Kyo Finance, UneMeta, Macaron Finance and many more!
  • Weekly Loyalty Rewards Distribution: We’ve distributed 100K+ $ASTR in rewards (Loyalty Rewards and Spin&Earn Campaign rewards)! This was just for the month of October. Our stakers enjoy weekly rewards payout in nsASTR. As we now make way towards a higher tier, these rewards will compound and per staker reward will also increase—subject to the number of stakers in that tier.

Metrics

The overall activity on our app has increased rapidly in October. We’ve seen an active userbase of 2K. This is evidenced by the increase in our TVL, which has risen by almost 100% between the previous Build&Earn sub-period and the most recent Voting sub-period. We’re now seeing daily activity on our mainnet as an increasing number of users are depositing their ASTR with us.

That said, here’s a summary of our metrics:

  • MAUs: 2K
  • WAUs: 500
  • TVL: 107.65M $ASTR

Since our integration with Soneium protocols, we have seen a steady increase in our active users on our testnet. This is also thanks to the LFGM Campaign Board by Soneium and Astar Network.

Key Events

Milestone 1: Soneium Spark Winner

We were officially announced as one of the winners of Soneium Spark—alongside a handful of other protocols. We’re thrilled to be part of this program, which saw over 1700 applicants. Here’s the official announcement.

Milestone 2: Soneium Minato Testnet

We launched our Minato Testnet on 16th October. And we also introduced LFGM campaigns for participating in the testnet. We’re seeing a constant influx of users on our testnet, have seen a 100% increase in our social following, and are seeing constant interest from users from other L2s as well.

Milestone 3: Spin&Earn Campaign

We distributed 50K+ $ASTR (in $nsASTR) to users who participated in our Spin&Earn campaign. This was a small campaign we conducted during the Voting sub-period—users who staked 1K $ASTR got spins in return. Using those spins, they could win cash rewards in return. Some users got upto 2K in $nsASTR as rewards!

Milestone 4: Weekly Rewards Distribution

We’ve distributed 50K+ in $nsASTR—this is a 100% increase in Loyalty Rewards from the previous month! Furthermore, we distributed 19.4K+ $ASTR on 11th Nov, which was 2x more than the rewards we distributed the previous week. As you can see, there is an incremental increase in Loyalty Rewards as we acquire more TVL.

Milestone 5: Participation in co-marketing activities, AMAs, promotions etc.

blocmates was kind enough to cover us and other major protocols on Soneium in an article. You can check it out here. We also participated in the fortnightly AMA sessions—LFGM on Soneium. Furthermore, we have made partnership announcements with leading protocols on Soneium. This is a testament to our commitment to building one of the smoothest LST experience for users!

Partnerships

image (12)
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Past Activities Detail

  • Oct 1: AMA 6th: Announced and hosted Genesis Spotlight AMA featuring leading Soneium and Astar Network projects. In panel Avalon Finance, VeryLongSwap, Sake Finance, SonovaNFT, Supervol, DenDekaDen, Genzio as media partner Social Post
  • Oct 3: Featured in a thread by zkVan. Social Post
  • Oct 7: Successfully sent Third batch of Loyalty Rewards in nsASTR. Social Post
  • Oct 9: Joined the Soneium NFT Alliance initiated by Sonova NFT. Social Post
  • Oct 9: Neemo participated in the LFGM campaign. Social Post
  • Oct 14: Successfully sent Fourth batch of Loyalty Rewards in nsASTR. Social Post
  • Oct 14: Selected as a winner in the Soneium Spark program. Social Post
  • Oct 15: Announced the winners of the Genesis AMA. Social Post
  • Oct 16: Soneium Minato Testnet went Live. Social Post
  • Oct 17: Announced integration with Sake Finance on Soneium Minato. Social Post
  • Oct 18: Shared a video guide on minting nsASTR and using it to borrow ASTR. Social Post
  • Oct 18: Launched a “Spin and Win” contest for the sub-voting period. Social Post
  • Oct 19: AMA 7th: In Panel Aiweb3, Neurolanche, Destore network. Social Post
  • Oct 21: Successfully sent Fifth batch of Loyalty Rewards in nsASTR. Social Post
  • Oct 21: Announced integration with Kyo Finance on Soneium Minato. Social Post
  • Oct 23: Featured by blocmatesdotcom. Social Post
  • Oct 25: AMA 8th: Participated in a panel discussion on “Building the Future of DeFi with Soneium” alongside Sonex, Yay Global, Sake Finance, Supervol, SphereX, Bitmart, and Metaera. Social Post
  • Oct 28: AMA 9th: Hosted an AMA with Astar Network Agents - Juminstock, Dr. Cao, and max.eth. Social Post
  • Oct 29: Hosted an AMA with Sake, Kyo, Yay Global, Sonex, and Posse Studio as part of the LFGM on Soneium campaign. Social Post
  • Oct 30: Partnership announcement with Macaron Finance. Social Post
  • Oct 30: Soneium Spark badge announcement. Social Post
  • Oct 31: Partnership announcement with waveX fi. Social Post
  • Oct 31: Announced the end of the “Spin & Earn” contest, achieving a TVL of over 82M+. Social Post

Focus for upcoming Months

Our focus is on two key objectives for the upcoming month:

  1. Launch on other L1 chains: We plan to deploy our liquid staking solution on other Tier-1 L1 chains. While we cannot reveal the names of those chains at this point, these are all Tier 1 chains. These integrations will facilitate capital inflow to Soneium and offer a variety of benefits to nsToken holders! Stay tuned for updates.
  2. Increase utility of nsASTR on testnet with integrations: One of the biggest utilities we can offer to nsASTR holders is leveraged staking, which we’ll build in collaboration with CDP protocols like Untitled Bank. Additionally, we’ve already integrated protocols like Sake Finance, Kyo Finance to offer various utility for users. We continue to build these partnerships to ensure retention of capital on the Soneium chain.
  3. Dedicated campaign for the ongoing Build&Earn Sub-period: We’ll soon be launching a dedicated for the ongoing Build&Earn Sub-period. This campaign will attract $ASTR holders who haven’t staked their tokens yet. And, this campaign will offer boosted rewards in return! Stay tuned for official announcements.

Inviting the Astar Community to benefit from staking with Neemo!

If you hold ASTR, you can easily deposit them on our app (app.neemo.finance) and earn boosted rewards (for both the sub-periods and rewards from our Loyalty Program). You can stake from Astar EVM network and/or the Astar Parachain network! We look forward to the community to checking out our app and giving us feedback. Please join our Discord and/or reach out to @priyanshsna on Telegram for any queries!

Closing Thoughts

Our engineering team has been continuously shipping products and integrations. We will continue to build products, services, and solutions to facilitate capital inflow and retention on the Soneium chain. We look forward to working with Astar Network ambassadors in getting feedback on our growth. If you have any questions/concerns, please feel free to reach out to us!

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157

Yep! We’ll continue to conduct marketing related activities on Soneium in partnership with protocols on the chain. Your help is always appreciated! We can host the Astar Network ambassadors in AMAs, co-authoring pieces etc. We’d love to get in chance to discuss this in detail :slight_smile:

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158

Apologies for the delay! Just posted :slight_smile:

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159

Congrats ! Glad to see Neemo delivering so much :clap:

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Congrats fo 100M $ASTR TVL! Great to see increased rewards for stakers and strong traction on the Soneium Minato Testnet, along with partnerships with protocols such as Sake Finance and Kyo Finance, among others.

Campaigns like Spin&Earn really show the commitment to growth and user engagement. Excited to see how expansion to other Tier-1 chains with added utility of nsASTR continues to push value to the community. Well done!

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161

Thanks for the detailed and excellent report.
I support you as one user, and look forward to your future.

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First of all, congratulations to the team for reaching milestones in many areas. Regarding the information and roadmap that the team has summarized, the information is very detailed and clear. Thank you very much.

If there are any activities or campaigns that need support or promotion, please feel free to provide feedback anytime. Anyway, I’m rooting for the project’s success. =)

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163

Congrats on winning Somnium Spark! I’m excited to see the upcoming initiatives to enhance ASTR token utility on Somnium.

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Dear Astar Community,

As we near the end of our UCG period, we’d like to request an extension for UCG for an additional period of 16 weeks (4 months). Here are 3 reasons why this extension will help us:

  • Accelerate our fundraising: We’re currently raising funds and having a higher TVL helps us secure those funds.
  • Increased rewards for our stakers: As part of our Loyalty Program, our stakers will receive higher rewards if our TVL is high.
  • The fastest growing protocol on Astar Network: We are one of the fastest growing DeFi protocols on Astar Network. The extended grant will help us cement this position even on Soneium and accelerate the growth of both LST and DeFi.

Here’s a final report of our progress since we received the grant.

Summary

We’re proud to report that we’ve been on track and, in fact, outdone the targets and milestones we had set out us in the initial proposal. Here are key highlights since we received the UCG grant:

  • Reaching 100M $ASTR TVL: We’ve crossed the 100M $ASTR TVL mark during the most recent Voting sub-period. This has also led to a 100% increase in the total rewards we distribute via our Loyalty Program. As we acquire more TVL, rewards for stakers/participants in our Loyalty Program will increase.
  • Momentum on Soneium: We launched our LST on Soneium after winning Soneium Spark—the highly competitive grants program offered by Soneium. We’ve also partnered with protocols like Sake Finance, Kyo Finance, Sonus Exchange, SuperVol, and more. We’ve hosted AMAs, marketing campaigns and more in partnership with leading protocols on Soneium such as Sake Finance, Untitled Bank, Kyo Finance, UneMeta, Macaron Finance and many more!
  • Over 200K+ distributed in $ASTR: We’ve distributed 100K+ $ASTR in rewards (Loyalty Rewards and Spin&Earn Campaign rewards)! This was just for the month of October. Our stakers enjoy weekly rewards payout in nsASTR. As we now make way towards a higher tier, these rewards will compound and per staker reward will also increase—subject to the number of stakers in that tier. The distribution for these rewards can be tracked here.

Metrics

Since our launch on Astar Network EVM and Soneium, we’ve seen a 100% growth in our TVL, active users, and social metrics. Here’s a visual summary of our numbers and statistics.

Highlights
Highlights1200×675 41.2 KB

  • Total Active Users: 15K
  • TVL: 107.9M $ASTR
  • Rewards distributed: 200K+ $ASTR
  • Community: 11.2K+
  • Weekly Rewards distributed: 80K+ $ASTR monthly

These metrics are indicative of our strong positioning on Astar Network. We’ve also outgrown at a rapid pace to Tier 2 and our conscientiously on path to get to Tier 1. Our strong presence in Tier 2 also helps our stakers earn maximum rewards when they stake with Neemo Finance.

Key Events

Milestone 1: Mainnet launch & marketing activities

We launched our liquid staking protocol on Astar mainnet in August. Since receiving the UCG grant, we’ve seen an almost 500% increase in our Astar Mainnet TVL. This is in part due to the support from the Astar community and in part due to our Loyalty Program that offers weekly rewards to users. We’re one of the few protocols in DeFi (and perhaps one of the only ones on Astar Network) that offers real boosted yield (in $nsASTR) weekly. This has helped us to garner a significant amount of TVL from $ASTR stakers.

Milestone 2: Secured by Hacken

Hacken, a leading blockchain security auditor published their security report about us. This report had:

  • 0 critical
  • 0 high
  • 0 medium, and
  • 0 low severity issues.

You can find the entire audit report here. Additionally, we have also integrated SphereX, a realtime security monitoring solution. It helps us track any malicious transactions real-time and undo them before they can do any damage to user funds.

Milestone 3: Weekly Rewards & Loyalty Program participation

We distributed 50K+ $ASTR (in $nsASTR) to users who participated in our Spin&Earn campaign. This was a small campaign we conducted during the Voting sub-period—users who staked 1K $ASTR got spins in return. Using those spins, they could win cash rewards in return. Some users got upto 2K in $nsASTR as rewards!

We’ve distributed 50K+ in $nsASTR just last month alone—this is a 100% increase in Loyalty Rewards from the previous month! Furthermore, we distributed 19.4K+ $ASTR on 11th Nov, which was 2x more than the rewards we distributed the week before.

On average, we’re distributing 19.5K+ $ASTR in weekly rewards to our Loyalty Program participants. This number is set to increase as we proceed towards Tier 1 on Astar dApp Staking.

Milestone 4: Soneium Spark Winner

We were officially announced as one of the winners of Soneium Spark—alongside a handful of other protocols. We’re thrilled to be part of this program, which saw over 1700 applicants. Here’s the official announcement.

We launched our Minato Testnet on 16th October. And we also introduced LFGM campaigns for participating in the testnet. We’re seeing a constant influx of users on our testnet, a 100% increase in our social following, and interest from users from other L2s too.

Milestone 5: Participation in co-marketing activities, AMAs, promotions, etc.

We’ve actively engaged in co-marketing activities to increase Neemo’s brand presence on Astar Network and Soneium. We led the AMA Season on Soneium by hosting the very first AMA, Genesis Spotlight that saw participation from Avalon Finance, VeryLongSwap, Sake Finance, SonovaNFT, Supervol, DenDekaDen, etc. Since then we’ve co-hosted several AMAs with Sake Finance and Kyo Finance—inviting and speaking with major protocols building on Soneium.

The noise we’ve been making hasn’t gone unnoticed. blocmates, a huge content and media creator in crypto, was kind enough to cover us and other major protocols on Soneium in an article. You can check it out here. Furthermore, we have made partnership announcements with leading protocols on Soneium. This is a testament to our commitment to building one of the smoothest LST experience for users!

Milestone 6: 100M $ASTR TVL Achieved

In just 1.5 months since our mainnet launch, we’ve successfully surpassed the 100M $ASTR TVL milestone. This significant achievement has led to a 100% increase in rewards for our stakers and Loyalty Program participants.

Milestone 7: Build&Earn Campaign

We’re soon launching a campaign to attract the existing $ASTR holders who haven’t staked their tokens yet. For this campaign, we’ll offer additional rewards to users who stake their $ASTR with us on our app. This will play on the Bonus Rewards flywheel—as more users stake their $ASTR with us, they will receive higher $ASTR Bonus Rewards, which will further attract more TVL and keep the flywheel running. This campaign does not include NFTs and is separate to the Loyalty Program. Rewards are distributed only to the newly deposited amount—which is staked on the Neemo app only.

Flywheel
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Partnerships

Partnerships
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Past Activities Detail

July - August

  • July 3: Dapp staking for Astar Network announcement. Social Post
  • July 17: Secured Unstoppable Community Grant from Astar Network. Social Post
  • July 29: Testnet v1 for Astar Network goes live. Social Post
  • July 30: Live on Astar Dapp Staking portal. Social Post
  • Aug 12: Gitbook live for Astar Network. Social Post
  • Aug 18: Neemo Finance joined Astar dapp staking. Social Post
  • Aug 19: Neemo Loyalty program announcement. Social Post
  • Aug 21: Partnership with Spherex Technologies to bolster the security of our liquid dApp staking platform… Social Post
  • Aug 23: Integration with Soneium Announcement. Social Post

August - September

  • Aug 27: Go Mainstream with soneium announcement. Social Post
  • Sept 3: Announcement for Loyalty Badge Mint for Public round live on Sonova. Social Post
  • Sept 3: FCFS NFT sold out in record-breaking 60 seconds. Social Post
  • Sept 5: Gitbook live for Soneium. Social Post
  • Sept 6: Completed smart contract’s audit with Hacken, receiving a clean report with no issues in our code. Social Post
  • Sept 9: Neemo Finance Mainnet goes live on Astar Network’s EVM. Social Post
  • Sept 10: Introduced $WASTR deposit functionality for liquid staking rewards. Social Post
  • Sept 19: Our Founder Seiya Chida attended ‘Go Mainstream Soneium Ecosystem Night’ in-person, representing Neemo Finance in Token 2049 Singapore. Social Post
  • Sept 23: Successfully sent first batch of Loyalty Rewards in nsASTR. Social Post
  • Sept 25: Launched Astar Native campaign. Social Post

October

  • Oct 1: AMA 6th: Announced and hosted Genesis Spotlight AMA featuring leading Soneium and Astar Network projects. In panel Avalon Finance, VeryLongSwap, Sake Finance, SonovaNFT, Supervol, DenDekaDen, Genzio as media partner Social Post
  • Oct 9: Neemo participated in the LFGM campaign. Social Post
  • Oct 14: Selected as a winner in the Soneium Spark program. Social Post
  • Oct 16: Soneium Minato Testnet went Live. Social Post
  • Oct 17: Announced integration with Sake Finance on Soneium Minato. Social Post
  • Oct 18: Launched a “Spin and Win” contest for the sub-voting period. Social Post
  • Oct 21: Announced integration with Kyo Finance on Soneium Minato. Social Post
  • Oct 23: Featured by blocmatesdotcom. Social Post
  • Oct 25: AMA 8th: Participated in a panel discussion on “Building the Future of DeFi with Soneium” alongside Sonex, Yay Global, Sake Finance, Supervol, SphereX, Bitmart, and Metaera. Social Post
  • Oct 28: AMA 9th: Hosted an AMA with Astar Network Agents - Juminstock, Dr. Cao, and max.eth. Social Post
  • Oct 29: Hosted an AMA with Sake, Kyo, Yay Global, Sonex, and Posse Studio as part of the LFGM on Soneium campaign. Social Post
  • Oct 30: Partnership announcement with Macaron Finance. Social Post
  • Oct 30: Soneium Spark badge announcement. Social Post
  • Oct 31: Partnership announcement with waveX fi. Social Post
  • Oct 31: Announced the end of the “Spin & Earn” contest, achieving a TVL of over 82M+ $ASTR. Social Post

Focus for upcoming Months

Our focus is on two key objectives for the upcoming month:

  1. Launch on other L1 chains: We plan to deploy our liquid staking solution on other Tier-1 L1 chains. While we cannot reveal the names of those chains at this point, these are all Tier 1 chains. These integrations will facilitate capital inflow to Soneium and offer a variety of benefits to nsToken holders! Stay tuned for updates.
  2. Further Defi initiatives: We’re currently developing a new feature to maximize the utility of our nsTokens. While we can’t disclose the details yet, we’ll be announcing it very soon. Discussions with our partners are already underway.
  3. Increase utility of nsASTR on testnet with integrations: One of the biggest utilities we can offer to nsASTR holders is leveraged staking, which we’ll build in collaboration with CDP protocols like Untitled Bank. Additionally, we’ve already integrated protocols like Sake Finance, Kyo Finance to offer various utility for users. We continue to build these partnerships to ensure retention of capital on the Soneium chain.
  4. Dedicated campaign for the ongoing Build&Earn Sub-period: We’ll soon be launching a dedicated for the ongoing Build&Earn Sub-period. This campaign will attract $ASTR holders who haven’t staked their tokens yet. And, this campaign will offer boosted rewards in return! Stay tuned for official announcements.
  5. Finish fundraising: We’re currently raising funds for our seed round. These funds will help us continue to build innovative LST/LRT products. We’ve already created in-house PoCs for these chains and are speaking to partners for exclusive partnerships.

Inviting the Astar Community to benefit from staking with Neemo!

If you hold ASTR, you can easily deposit them on our app (app.neemo.finance) and earn boosted rewards (for both the sub-periods and rewards from our Loyalty Program). You can stake from Astar EVM network and/or the Astar Parachain network! We look forward to the community to checking out our app and giving us feedback. Please join our Discord and/or reach out to @priyanshsna on Telegram for any queries!

Closing Thoughts

As you can see, we have made rapid progress since we received the UCG grant. The grant has certainly helped us grow on Astar Network. And we have duly recognized our community and stakers through our Loyalty Program and other initiatives. The extension of the UCG will further help us cement our position on Astar Network and act as a catalyst in our ongoing fundraising process. Look forward to your feedback and/or questions!

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