Since its announcement, The Conglomerate Capital (TCC) project has attracted a lot of attention. Some people are calling it the next big thing in the crypto world, and there’s certainly a lot of hype about it.
Our group of crypto journalists decided to take a closer look at the project. Is it really worth investing in?
Surroundings
The world is becoming more digital, changing rapidly and becoming more decentralized. The rise of cryptocurrency, blockchain, DeFi, Web 3.0 and decentralized autonomous organizations (DAOs) are contributing to this. The challenge now is to harness all of these new technologies and positively impact society.
From a financial and investment perspective, these new technologies present a unique opportunity to bring outstanding private market investment opportunities to individual investors around the world, previously only accessible to venture capital (VC) and private equity (PE) funds, where the true value is generated.
Overall, the crowdfunding and launchpad (ICO) market will be worth $21 billion in GMV next year, according to FNF Research. Although crypto as a funding vehicle accounted for only about 20% of the capital raised, its average amount per deal is $4.9M, while crowdfunding is only $0.3M.
Exported from the company’s website. The team was able to put together various AI-created videos to help investors understand the complexity of the project.
The project
The Conglomerate Capital (TCC), with its token (CONG), is the first truly web3, Ethereum blockchain-based investment and funding platform managed by a decentralized autonomous organization (DAO) that powers disruptive startups as well as SME companies Raise capital, where investors gain access to outstanding venture capital and private equity opportunities through the CONG token.
The TCC and CONG ecosystem is the first and only to develop governance and investment capabilities to guide and protect investors through the implementation and use of new market capabilities and draws on the expertise of executives from the world’s Tier 1 VC and PE -Industry to count to shape the way people invest their capital.
Exported from TCC & CONG presentation deck. Based on the strong background of the founders, The Ecosystem will be the first company to bring VC and PE industry functions to the crypto world.
Remarks:
- After a campaign is funded, TCC exchanges USDT & BUSD for fiat and sends it to the company. Conversely, whenever a company generates and distributes cash to shareholders, TCC receives cash in proportion to its interest.
- Funds distributed by companies to TCC can be converted into USDT & BUSD and distributed pro rata to holders based on governance decisions.
- TCC may operate a buyback program when cash is available. Price per CONG and total amount is determined by management.
- Investors can trade CONG when the token is listed on exchanges.
- With the cash generated by the companies, TCC can convert it into tokens that are distributed to holders.
- Seeking an alignment of interests, CONG tokens are granted on the basis of attribution to companies’ top management.
- When the tokens vest, these executives can use an exchange to obtain other tokens or fiat for CONG.
The CONG token
We read the project’s white paper and interacted with blockchain experts to hear their thoughts on it. Overall, we’ve heard that not only the tokenomics but also the governance system is first of its kind.
By introducing VC and PE features to the crypto world, the project will be able to guide and protect investors through a better investment experience. We’ve summarized some of its features below:
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tokenomics
- holders benefit from various avenues of token appreciation, token dividends, sale of portfolio companies, interest-bearing tokens, income-generating features, etc.
- The price of the CONG token is increasing along with the increase in portfolio company opportunities on the TCC platform. The sooner investors buy and hold the token, the better.
- yield farming: pegged to SELIC (Brazilian Standard Market Rate). Tokens are locked for both farming and rewards and cannot be sold on the market. Rewards can be used to participate in offers. Seed, pre-sale, and private sale investors own 120%, 110%, and 105% of SELIC (currently at 13.75%) for their yield farming tokens, respectively.
- CONG Options (“CONGo”): When the hard cap of a funding campaign is reached, value will be swapped into CONGo, which will be swapped into CONG when the next funding event goes live. The exchange price will be CONG'(p-1), which is the token price when investors previously applied.
- fairness assignment: In order to increase the number of investors in the ecosystem, new investors will be the first group to be prioritized and assigned in the funding campaign. Thereafter, investors have their allocation in relation to their share of the total CONG staked.
guide
- Buyback program: Any holder can vote as a governance procedure subject to cash availability.
- To make it more difficult for large token holders to manipulate governance proposals, the CONG protocol is used given the increased cost of voting Square vote Feature per staked token.
- Voting lock: To significantly reduce governance attacks, minted tokens and addresses less than 1 year old are non-voting, as are non-transferred tokens.
- side pocket protection: The portfolio company’s raised capital is placed in escrow and released based on milestone deliveries. Owners review milestone achievement to approve capital release. If milestones are not met and the company is discontinued, side pocket capital will be frozen and allocated to the next raise.
- Compensation of the management team of the portfolio companies: Voting consensus approves the vesting schedule, amount and milestones of CONG awards for the newly funded company’s team. Operations team bonuses are granted in the form of CONG, which aligns entrepreneurs with the ecosystem, which benefits owners overall.
- term sheets: If a VC and/or PE fund makes a token acquisition proposal that is +5% of the available supply, it needs to be voted on and the project team needs to provide information about the deal.
- Deal Flows: Regarding funding deals, new tokens can be generated that voting consensus approves when a new corporate funding deal goes to the TCC platform.
The team
The founders came from the VC/PE industry and have worked for top tier investment funds such as Kaszek Ventures, Lightrock, Belfer Investments, Madrone Capital Partners, BTG Pactual, Global Endowment Mgmt, Omidyar Network, Endeavor Catalyst, Quebec Impact Assets and LTS Investments.
In addition, they have raised around $200 million and participated in nearly 800 M&A transactions.
Exported from TCC & CONG presentation deck. The founders are former executives of the VC/PE industry. The project is backed by mutual funds and other crypto companies.
All in all the team is extremely experienced which compared to what we have seen recently in relation to the crypto companies (e.g. SBF at FTX) puts the project on a high bar.
presale event
The CONG token presale event starts on January 16 at 9:00 GMT. According to the company’s website, there will be more pre-sale rounds after that, which will always have a token price increase.
Conclusion and further analysis
Our group of journalists and blockchain experts asked to analyze the project and its token CONG came to the conclusion what crypto retail investors have wanted to hear for a long time: Finally, a strong and concrete project that can be launched and for Bitcoin’s return may contribute to crypto bull market periods that we had all seen up until almost a year ago.
We have requested an interview with the founder and CEO of the project, Yves Civolani, which will be arranged and also published in a few days.
website: https://www.congcap.com/
Twitter: https://twitter.com/ConglomerateCap
telegram: https://t.me/conglomeratecapgroup
Written by Famogbiyele Timilehin, cryptocurrency writer and journalist.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
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