# Phase 1: Foundations (Pre-Launch)

#### Phase objectives

* Validate demand for a crypto-native spending ecosystem.
* Ship early versions of the directory and merchant tooling.
* Put core company, funding and compliance foundations in place.

#### Product & market foundations

* [x] Conduct market research on demand for a crypto-native spending ecosystem.
* [x] Prototype and release alpha versions of the THAT Directory app for merchants to trial directory, voucher and CMS functionality.
* [x] Gather feedback from \~200 participating businesses and \~13,000 pilot users.

#### Company, funding & compliance

* [x] Secure USD 150,000 seed funding from Olcha Software at a USD 7,500,000 valuation.
* [x] Develop AML/CTF and KYC programs for the presale and future exchange integrations.
* [x] Register an AUSTRAC digital currency exchange (DCE100823807-001) to support the presale.
* [x] Establish official channels and publish the THAT whitepaper ([website](https://www.that.website), [Instagram](https://www.instagram.com/thatglobal), [X](https://x.com/thatglobal), [Telegram](https://t.me/thatglobal)).


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