At about 12:30pm on a Tuesday in January, Chris, Alex, and Justin got together for lunch at Twin Peaks in Atlanta.
Chris explained that over the last year, he had gotten very deep into the crypto space and was making a massive return on his various activities. He had a vision for a traditional incubator that could help fund projects he saw as high potential in the space. Alex jumped on board and the two started talking to traditional angel investors. The original goal was to get 100 people signed up as participating investors and then try to use that team to process ideas. Alex reached out to a handful of would-be angel investors but quickly found that most knew nothing about blockchain or crypto, and although interested, were too timid about making investments in the space.
Chris realized our best option to so be “by crypto, for crypto” and started purusing a DAO model in February. By March we were working on our DAO model and building our contracts and platform, all to be released for Genesis on 4/24. During Genesis, the incubator raised 2.5M USD which at 1pm on 5/1 converted into liquidity pools and minted the Lift tokens.