Aelin (AELIN)

Aelin allows upstart DeFi protocols to bypass venture capitalists by raising funds and selling tokens directly to communities via special discrete pools.

Basics

• Based in:
• Started in / Announced on: 15-4-2021
• Testnet release:
• Mainnet release: 24-11-2021

History

• When the launch happened, Kain wrote its post (24-11-2021):

"Kain here, I was asked to write this post because, I’m not even fucking kidding, when the time to launch rolled around the Aelin CC’s realised no one had actually written up a launch post. So I volunteered to do it as my final contribution to the protocol, a small farewell gift. Also, I’m probably most aware of how Aelin came to exist… Aelin started as a response to a joke by Mariano on twitter. I figured, yolo, I would just write up a spec and see whether anyone was interested in collaborating on it. @andrecronje immediately offered to code the contracts, in prod of course.

It then took on a life of its own when at the Synthetix offsite in July we decided to make a group to take Andre’s contracts and extend them based on the new information and some more ideation sessions. Several volunteers emerged after the offsite including Alex the Bored Ape who then lead the volunteers from that point on."

Audits & Exploits

• Bug bounty program can be found [insert here].
• Aelin has been audited (29-10-2021).

Token

Token Allocation

• From the Launch Post (24-11-2021):

"Aelin protocol is being created via a fair launch. There are three methods of AELIN token distribution. The total supply of AELIN is 5,000 tokens. The “seed” round is being done as an Aelin pool meaning that there was no preferential access to tokens ahead of the public release of the protocol. Aelin is disrupting the VC’s.

5% - 250 AELIN, an Aelin pool that will sell these tokens for 1.5m USD.

5% - 250 AELIN, a mega balancer pool with 8 DeFi tokens (to be voted on by Aelin holders)

15% - 750 AELIN, a retro distribution to SNX holders for leveraging Synthetix governance

5% - 250 AELIN, to the Aelin DAO for retro volunteer payments and continuity

70% - 3500 AELIN, Inflation and other liquidity incentives."

Technology

• Whitepaper or docs can be found here.
• Code can be viewed [insert here].

Implementations

• Built on: Synthetix, Optimism (24-12-2021)

How it works

• From the Launch Post (24-11-2021):

"Aelin is a deal coordination protocol, it differs from an on-chain fund like the LAO because each deal is discrete. Users pool funds into a single pool and the sponsor of that pool sources a single deal and then everyone holding the pool token (a claim on the pool funds) can decide whether they like the terms of the deal and accept it by converting their pool tokens into deal tokens, or reject it and get their funds back from the pool. The main downside for pool token holders is their funds are locked in the pool until the pool expires or a deal is sourced by the Sponsor. They can, however, sell their pool tokens as they are simply a claim on the funds in the pool."

Fees

• From the Launch Post (24-11-2021):

"Each pool charges 2% of the total redeemed pool tokens paid to AELIN stakers plus an optional fee determined by the sponsor. If a pool token holder does not like a deal they can withdraw their funds without paying the 2% protocol fee or any sponsor fees."

Roadmap

• Can be found [Insert link here].

Team, Funding and Partners

Team

• Full team can be found [here].

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