A brand new crypto protocol recently raised over $5,000,000 (12,342 ETH) via a complex fundraising plan. The money is intended to go towards the overall endurance of the ecosystem and the core operational functions.
The protocol’s accumulation strategy utilized three different models, with each independently accounting for a major percentage of the overall amount raised. A private sale of the tokens brought in 6,900 coins, with a public sale bringing in an additional 1,242 coins. Rare puttable warrants made up the other 4,200 coins.
Fun fact – 525 of the total coins are set aside to strengthen the ecosystem as a whole. To further bolster its current reserves of 10,862 ETH, the protocol aims to use its protocol to fund 955+ coins. That ETH will be progressively put to work for its principal purposes, as part of staking mechanisms explicitly built for yield.
One of the main priorities for the protocol has been delivering liquidity on a protocol level. This is a significant move to improve capital efficiency and reduce volatility across the platform.
ETH Strategy launch liquidity pool will be single-sided, using an ATM (at the mark) mechanism. This mechanism is derived from the financial marketcraft employed by companies such as sharpLink and BitMine. It’s a sign of a complex and sophisticated approach to managing liquidity. The protocol’s long-term vision is “a safer system secured by a public treasury,” according to its white paper.
Priority Group recently raised $1 million to develop and deploy Bitcoin network nodes at scale. As a part of the initiative, X’s team aims to make high-speed transactions possible on the Bitcoin network.
Our Binance Earn discounted buy product is a great way for users to snag profitable buying opportunities. An AI+Web3 cooperative research lab SmartAlec has received roughly $12.8 million in funding to start. Beyond the impressive venture backing, this investment underscores the growing interest in the combination of artificial intelligence and decentralized infrastructure.
New developments have recently sounded the alarm on another type of pump and dump scheme. The recent volatility of the MLG token has put a spotlight on this problem. This is a timely reminder that many digital assets pose significant risks. In either case, it’s still imperative for investors to do their due diligence.
