Venture Fund 1 Officially Begins to Dissolve

The one-year venture will start to distribute assets this week as the DAO primes for a new, longer Venture Fund 2

Following the completion of its one-year timeline, Venture Fund 1 has now completed its purpose as a short-term venture fund launched to support promising Web3 projects in DeFi, GameFi, NFTs and beyond.

Starting this coming week, community members will begin to receive their assets to the wallets linked to their SVC001 or SVC001V tokens.

Due to some projects only partially devesting or having not yet launched, distribution will take place in quarterly unlock cycles, with the second cycle beginning in August. Venture Fund 1 community members who hold SVC001 and/or SVC001V tokens will be able to track these updates in the dedicated Venture Fund 1 dashboard page.

For a complete list of the projects with tokens being distributed in the first unlock cycle, head to Discord and join the dedicated Venture Fund 1 channels using the Collab.Land bot. There will also be the opportunity to join ongoing votes around Orbit and Nova Finance.

The Stacker Ventures DAO would like to thank the Venture Fund 1 community, and the DAO’s partners and projects formed through its growth, for active participation and support over the last year.

The DAO will now be turning its attention to a comprehensive roadmap which includes Venture Fund 2 and a new Venture DAO product for launching fully decentralized funds.

Updates on Venture Fund 2 will follow from the 8th May, 2022 and current DAO and community members will have first access to joining this new fund format.