Crystal Hands program: Results and expenses

As we all remember, Everscale has been truly decentralized right from the beginning, launching without any ICO or attraction of investment rounds from venture capital. The community is run with no specific governing stakeholders or organizations. There are several key contributors to the blockchain’s development, plus the Everscale DeFi Alliance and Everscale Foundation, which brings together various companies from the crypto industry and the EVER community. All of these lead the project and drive innovation.

Following a request from the community to publish the results and all expenses of the Crystal Hands program, we have decided to explain everything step by step in this article.

So, let’s start!

What is Crystal Hands?

In September 2021, the group of companies that make up the DeFi Alliance announced their intention to help the project reform and bring liquidity to the Everscale network. In line with the community’s decision, 280 million EVER was allocated to the DeFi Alliance provided that it would subsequently fulfill the following obligations:

• The Alliance will define the minimum and maximum allocation for purchase subject to market conditions, network safety, and investor profile;
• The investor may receive an optional deep discount to market price (25% or more) only in the case that the funds will stay locked for six months or more;
• The sale price for the investor must stay within the range of 0.20-0.40 USD/EVER;
• The Alliance may independently select agents to assist with the fundraising process, select sellers, and conduct direct sales based on the decision of the Alliance’s DAO;
• Collaborations & listings with top exchanges;
• The referral fee for successful investor attraction is paid to agents, sellers, Alliance members, or the Alliance itself in EVER and may not exceed 15% of the tokens sold and rewarded to investors;
• The Alliance and its agents will perform the sale of tokens against popular liquid digital assets with further transfer of the liquidity to the Everscale network through the Octus Bridge;
• The acquired funds will be used for Everscale network development programs, including, but not limited to liquidity provision (specifically, in DeFi and NFT ecosystems), PR and marketing, developer grants and education, listings, and trading programs.

A little bit later, in order to keep the pace of Everscale’s core development and marketing activity,, a proposal was made to update the key terms of Crystal Hands on September 4, 2022 via Ever DAO. New terms of the program were accepted:

• The maximum discount to market price as of the deal date should not exceed 25%;
• Overall lock-up provision must be no shorter than six months;
• The Alliance and its appointed Sellers acting on behalf of the Alliance reserve the right to define the sale final price and lock-up terms on their own depending on the market situation (including deals to happen on or around the date or deals that happened before the date of this proposal’s approval), but in any case such terms shall satisfy the requirements from p.1 and p.2 above. 
• All other terms remain unchanged.

What have we achieved so far? Key points:

1. The Everscale Foundation was formed, thanks to which our community can communicate with institutions – Legal & Administrative;
2. Conferences and hackathons were held to attract developers to the Everscale network and raise its brand awareness – Conferences;
3. A series of grant allocations was held, thanks to which the ecosystem received many worthy projects – Grants;
4. We conducted listings on some of the largest exchanges and aggregators. Everscale has become more visible – Listings;
5. We also supported Farming and MM&Trading on the Everscale network;
6. PR & Marketing has become more productive thanks to the program. There have been many collaborations with bloggers around the world (Europe, Asia);
7. We did due diligence on all grant applications and past partnerships, which should help save money in the future;
8. High-quality business development took place, thanks to which Everscale gained many useful contacts in Asia and the MENA region.

Crystal Hands and Alliance spendings

The program is divided into EVER spending columns by quarter, as well as by percentage of current spending. Note that this program includes expenses not only for Crystal Hands, but also for other Core teams in the ecosystem (those who contributed – Broxus, Everscale DeFi Alliance, EverX, etc):

We have also prepared a chart showing the distribution of spending:

Conclusion

In conclusion, the investment funds allocated to our crypto project have been spent in a strategic and effective manner, contributing to its overall success and growth. The diligent management of these funds has allowed us to make significant progress toward achieving our goals, and we are confident that continued careful spending will lead us to even greater success in the future. This program has already helped the project reach a new level of acceptance among large players and whales.