The Fjord Foundry, the cryptocurrency token launchpad, has now raised over $15 million during its pre-sale, which concluded this week. The LBP model forming the basis of the sale had officials set a starting price at $5.37 on April 16th, and it was sold at $2.34 for the last price. This increased early demand and provided initial liquidity.
The LBP raised about $24 million, with FJO representing 80% of this volume, translating into 60% liquidity of the trading pool. The FJO tokens attracted a lot of investors; 88% of the 7.5 million tokens offered in the pre-sale have either been bought by investors or allocated.
This designation comes on the heels of a $4.3 million funding raised by Fjord Foundry in March. Investors included Mechanism Capital, Lemniscap, and Kieran Warwick, co-founder of Illuvium, an entertainment platform.
Fjord Foundry considers these pre-sales as the largest LBP sale of the year 2024 to date. They went ahead to share their excitement on X, and the team is bullish about the future roadmap of their token, which might include benefits for stakers like revenue sharing and participation in future projects.
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