1/ We are excited to announce the sale of ONDO tokens via
@CoinList
to over 18,000 purchasers. Over $10MM was raised via the sale across two tranches at a weighted average network valuation of $525MM.
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@CoinList
2/ The success of the sale in these turbulent market conditions is a testament to the long-term orientation of our community. Over 4,000 network participants were given access to CoinList's "Priority Queue" based on their participation in, and contribution to, the Ondo community.
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@CoinList
3/ The tokens were sold across two tranches with token-specific lock-ups that ranged between 18 and 30 months in total length, in addition to a global transfer restriction that must be waived by DAO governance for any tokens to be transferable.
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@CoinList
4/ The proceeds will be used to continue the development of Ondo as an open, decentralized investment bank. By automating and bringing typical investment banking services on-chain, Ondo is working to bridge the gap between TradFi and DeFi.
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@CoinList
5/ Combined with the $20MM raised earlier this year led by
@foundersfund
and
@PanteraCapital
and the $4MM raised last year led by
@PanteraCapital
, we are well-positioned to continue building throughout the bear market.
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@CoinList
@foundersfund
@PanteraCapital
6/ We are hiring across engineering, product, and operations, and are especially focused on building out our new capital markets team, which is focused on adding traditional forms of credit into our products. You can see open roles here:
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@OndoFinance
@CoinList
Why is there no airdrop for initial protocol users when 10 billion tokens are issued?
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