Liquidium Update - Reworked Backend

Dear Investor,

This week, we reworked our entire backend, resulting in several new features. Throughout the week, we released features such as filtering, sorting, and email notifications.

We are still in the process of hiring a frontend engineer. After posting the job on various platforms, including our website, Discord, Twitter, LinkedIn, and Wellfound, we received over 700 applications. We are currently screening these applications to find the best possible first (non-founder) full-time employee. So far, we have screened around 200 applications and have scheduled calls with the best 20.

In terms of fundraising, we aim to close our Pre-Seed round early next month, as we have received a decent amount of soft commitments over the last few weeks.

Early this week, we will grant access to the second tranche of our collaboration partner's waitlist, as well as our own. An estimated ten thousand new users will join Liquidium this week. Additionally, we are working hard every day to improve the user experience and maintain high user satisfaction.

Accomplishments:

Reworked entire backend which results in some new features we implemented throughout the week
- Filter by collections
- Sort by principal, interest, term, inscription number, most recent
- Email Notifications
New collaboration with Meta BRC
Added loan tracking and user authentication to our backend
Received over 700 applications for our open frontend postition, we screened about 200 of them so far and have invited the best of the bunch to an initial interview
Featured on a Twitter Space with Valerioshi as well as on a Space with NFT Now and Trevor Owens
Kook joined as an advisor/ambassador, he will do biz-dev work and will host Liquidium Spaces

Market Overview

Opportunity

NFT lending has seen increased activity with new companies entering the space and the total borrow volume sitting at $2B. Blur released BLEND, a peer-to-peer NFT lending protocol on Ethereum, and Binance launched its own NFT lending platform.

Dune Analytics reports that the NFT lending market on Ethereum has almost reached $2 billion in borrowing volume. In addition, Ordinals have been experiencing substantial weekly growth.

Liquidium is applying a similar concept to Ordinals, which will have a significant impact on the current market. It will be the first DeFi solution for Ordinals, allowing users to borrow and lend BTC using Ordinals as collateral.

Using metrics gathered from our competitors on Ethereum and comparing the Ethereum NFT market to the current Ordinals market, we estimate a daily borrow volume of $1.3 million on Liquidium. These numbers are expected to increase significantly during the next bull market.

https://docs.google.com/spreadsheets/d/1ehxX4vItM3nnwveoxo8iu3d3ApLPEOoYzujYDkP8ezM/edit?usp=sharing

https://dune.com/impossiblefinance/nft-lending-aggregated-dash

https://dune.com/dgtl_assets/bitcoin-ordinals-analysis