SOY Finance IDO - Completion
Dear Community and Investors,
With great pleasure, we announce having reached our fundraising objectives and the closing of Soy Finance IDO (Initial DEX Offering).
Therefore, the current round (#68) is the closing round of the SOY finance IDO.
At the time of writing, the SOY IDO wallet holds the equivalent of 770 000 USD in crypto-assets, with detailed figures to follow.
We believe that the Soy IDO is a success and the Soy Finance team extends its thanks to all the participants. We are truly grateful and excited to have seen so many new members join the community in just four months.
Welcome to the Soy Finance journey! Together we will make the DeFi space safer and also simpler!
Note: Although our IDO is over, you can still buy $SOY on the open market through Soy Finance DEX (more platforms will be available in the future).
Securing the DeFi space
Soy Finance is born with a mission: Securing the DeFi space.
Since the launch of Soy Finance, we have been putting our experience to good use, firstly by implementing our own token technology (ERC 223), auditing and providing benefits to the most popular crypto-projects. But we were not going to stop there...
On the 3rd November 2021, we launched an IDO that has very specific purposes, as described in the SOY Initial DEX Offering:
Establish a fund to guarantee users' losses in the event of hacks or software errors.
The development of a decentralized insurance system.
Improving the ERC 223 token standard and promoting it to other DeFi projects.
Expand the security auditors team.
Why is security so important? Check out this page.
IDO Participation and Fund Raising
When launching the Soy Finance IDO four months ago, we had goals, in terms of fundraising, of course, but also in terms of participation. Today we are proud to say that the community and the investors responded enthusiastically!
A particular mention for the first daily auction round, which closed with a 17% premium to the market price!
Below you will find the key figures of the SOY IDO participation, which align with the goals we have established for the fundraising.
Over 770 000 USD raised.
3 822 773 SOY tokens purchased.
1 911 386 SOY tokens locked (50%).
Average buying price of 0,16 dollars per token.
During the Soy Finance IDO, the total value of the crypto-assets raised represents 773 745 USD (at the time we are writing these lines). The details are below:
100 134 223 CLO (~ 701 500 USD)
54 860 BUSDT
14,5 BNB (~ 5450 USD)
444 440 CLOE (~ 5500 USD)
1,72 ETH (~ 4500 USD)
66,65 ETC (~ 1800 USD)
These funds are all held in the Soy IDO wallet, which you can find here.
Note: A document will be made available to the community and investors to report on the use of funds.
Leftover SOY Tokens
During the IDO, over 3,8 million SOY tokens have been sold, out of a total of 90 million initially projected. Based on discussions within the team, it was agreed that the remaining tokens would be used in two ways:
80% will be available for over-the-counter (OTC) sales by private treaty for 24 months, and then the leftover will be burned.
20% will be allocated to boost early farmers' incentives and facilitate adoption during deployments on new blockchains.
OTC Investing
Investors willing to acquire SOY tokens in an OTC manner will benefit from advantageous conditions described in the table below:
If you are interested in purchasing SOY over the counter (OTC), you can contact us at invest@soy.finance.
The Future
The whole team is entirely focused on the next steps of our roadmap. Alongside we are actively recruiting an experienced insurance expert to design the SOY Finance insurance system, which is expected to be the first of its kind in the DeFi world.
We are confident that the coming weeks will be exciting for the Soy Finance community!
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