The Fjord Foundry, which is the platform for launching cryptocurrency tokens, has successfully gathered over $15 million during its pre-sale, which ends this week. Using the LBP (Liquidity Bonding Pool) model, the team initially priced the token at $5.37 on April 16th. However, the price for the last sale was recorded at $2.34, creating early interest and providing an initial pool of liquidity.
We are excited to announce that the $FJO LBP has officially ended in an echoing success!
Our launch was seamless, raising over $15.35M. LBP investors have claimed 88% of the 7.5M FJO tokens, demonstrating strong demand for our offering.
— Fjord Foundry (@FjordFoundry) April 19, 2024
The LBP raised about $24 million with FJO representing 80% of this volume translating into 60% liquidity of the trading pool. The FJO tokens attract a lot of investors; 88% of 7.5 million tokens offered in a pre-sale have either been bought by investors or allocated.
@FjordFoundry raised an impressive $15.3 million during last year’s fundraising event. This was the largest amount raised through token sales in 2024. With a strong product and attractive token economics, holding onto your $FJO tokens might be a wise decision. 💡📈
— Grills (¤,¤) 🦇🔊🐻⛓️ (@CryptoGrills) April 19, 2024
After securing a $4.3 million investment from investors like Mechanism Capital, Lemniscap, and Kieran Warwick, the founder of Illuvium, in March, this designation has been assigned.
Fjord Foundry views the pre-sales in 2024 as the biggest sale through a Liquidity Bootstrapping Pool (LBP) they’ve had so far. They’re thrilled about it and expressed their enthusiasm on X. The team is optimistic regarding their token’s future plan, which may bring rewards like revenue sharing and chances to join upcoming initiatives for stakers.
The trading activity amounted to over $23.99 million, while the market offered a substantial $17.31 million in liquidity. We are extremely optimistic about the future of $FJO.
— Fjord Foundry (@FjordFoundry) April 19, 2024
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2024-04-20 00:36