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Underdog April Update

Hey Natalie- Let’s see how building Underdog Protocol went in April 2023. A month that grew our momentum. ​TLDR: Increased user growth this year from last month (220 new developers). We accomplished 80% of our priorities from the last month, were Grizzlython Grand Champions, and grew a pipeline worth $~70,000 ARR in Enterprise value.

What is Underdog Protocol?

Underdog Protocol is an API that enables developers and startups to seamlessly integrate web3 into their product or workflow to enhance user experiences
We’re building the modern data stack for web3 by turning the blockchain into a shared data layer so we’re able to build user-centric experiences


Fundraising Help & Introductions
Do you know any angel investors or web3 funds who have recently raised a fun? We are fully fundraising. You can find our list here

More Customers
Do you know any web2 and web3 companies who want to create experiences like Loyalty & Rewards for their users? The verticals that we are focused on are- Sports, Fashion, and Entertainment

👍 Highlights

Partnerships & Biz Dev👬
Our Twitter grew from 600 → 1100. This means our brand is super established. BD is way easier now.
We’ve grown a pipeline of valued at $170,000 ARR with upwards of 100,000+ NFTs that is continuously growing with names like Hedgehog Markets, Magic Eden, and Boba Guys.
We are increasing our velocity of Outbound vs. Inbound. We are now growing ~10 users per day. Once again - We’re on the radar while pricing & positioning is working ⭐
Product 📱
Launched a native Square app and Loyalty + Rewards interface for customers.
Fully launched compression API on both devnet and mainnet which unlocks the ability for Cookies as NFTs.
Underdog SDK is in development through the help of our Builders Program (ambassadors).
Check out some of our Integrations that were built with Underdog in this twitter thread -

👎 Low lights / Challenges

Struggling to articulate Vision 🌀
Our goal has always been to capture key data then bring it on-chain to unlock composability + interoperability.
We have received candid feedback around our Vision → Market → GTM based on the pitch we’ve done.
Do you want to schedule time to practice with us?
Fundraising 🐶:
We were not able to meet our AMBITIOUS deadline of April 30th. Though we were able to make it to our tranche goal of 1.5M committed. We are still open for about $1M.
April Growth

📰 News

Grand Champion for Grizzlython
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#1/ 10,000 registrants.
#1/ 813 submissions.
Participants from over 70 countries.
We are invited to this years Solana Breakpoint Conference in Amsterdam to speak about Underdog. We’ve also been invited to do panels on Loyalty + Compression. This is an awesome feat.
Launch of Solana Mobile

We launched our campaign with Saga. Your Genesis token. This is a device-bound NFT that a. verifies ownwership of your phone b. tracks your activity within the dApp store c. is your access key to perks and rewards. We are excited to see what opportunities this will create for the ecosystem!

🎯 May Priorities

Biz Dev 📊
Create 5-10 Use Cases + Examples of Underdog
Have 3 conversations with web2 businesses (for loyalty + rewards & learning)
Product 📱
Launch SDK for Underdog, to lower barrier of development on the API
Launch 3+ native Integratioms for our Integrations Layer
Re-launch Onboarding screen + flow
GTM + Fundraising 📈
$1M in the bank from our Seed Fundraise
Increase MRR by +$1000 (1 enterprise customer)
Secure Boba Guys as an early test customer

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