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Fjord Foundry raises USD 15 million from FJO token sale
Fundraising platform Fjord Foundry conducted an FJO platform token sale and raised USD 15.3 million
On April 19, 2024, Fjord Foundry announced it has raised USD 15.3 million through the sale of FJO, the project's token.
The USD 15.3 million raised from FJO tokens has raised more than USD 980 million raised through Fjord Foundry.
Fjord Foundry is a platform that allows projects to crowdfund with the mechanism of LBP or Liquidity Bootstrapping Pools - the process of selling new tokens through a form of auction fall
The token price starts at a high level and fall over time, allowing users to buy at any stage
The mechanism LBP fall the influence of buyers and facilitate more new access.
Since its launch in November, the platform has raked in more than USD 28 million in fees and used that money to develop products
After the launch of the FJO token, the project will acquisition and burn FJO with 90% of the fees from the products until the staking mechanism launches. At that time, staking participants will have the right to participate in governance and profit from project revenue.
At the time of writing, the FJO token price is 2.1 USD with little change from the average round price
Coin68 Synthesis***