A little bit of history
MetaLords has now become a blockchain development company and is launching its first project called Ascend Node Club, a membership type protocol that enables you to earn passive income streams through node technology, NFTs and a MetaFund profit sharing.
The first project of the MetaLords team was MetaLords Finance. The goal was to create a Metaverse Real Estate Investment Fund which would be operated as a DAO. To achieve this, the MetaLords team was going to leverage and innovate on the Bond model proposed by Olympus. The bond model was going to be used to fund the MetaFund which would then be used to invest into metaverse real estate assets, and a large portion of the profits would go directly to token holders and to prevent a selloff of our own protocol´s token, the profits will be distributed in a stable coin or Avax.
The project was announced 2 months before launch. During the first weeks the project received a lot of interest and the MetaLord community started growing rapidly. As development of the project continued, a lot happen surrounding Olympus which also affected the image of all OHM forks.
On Feb 8, 2022, MetaLords finance got to the Liquidity Bootstrap Event (Presale phase). The Soft Cap for the LBE was of 75k and a Hard Cap of 300k. As said before, the bad reputation of Olympus had already made investors worry about the possibility of these types of projects to become sustainable. MetaLords Finance model was going to work very differently from that of Olympus but still MetaLords was an OHM fork. After the presale, the raised amount of capital was 42k, meaning the project was not going to be able to launch. Therefore, the MetaLords team decided to create a poll where LBE participants were able to decide on how the project was going to pivot. Also, the team allowed every participant to decide if they wanted to continue with the project as seed investors, visionary investors or get fully refunded and wait for the next launch to get back in. Out of the 84 LBE participants, 34 stayed as seed or visionary investors and other 50 got 100% refunded 1 day after the presale. The team demonstrated that it was a real team without intentions of rugging and with the goal of achieving success.
After the final decision was made by LBE participants, it was decided that MetaLords was going to pivot and become a node project. One week after the presale ended the MetaLords team came up with a unique node protocol that would take the previous project to another level. Welcome Ascend!
Learn more about Ascend Node Club in this medium article.