Backed by names such as Mechanism Capital, Lemniscap, and Kieran Warwick, the FJO registered the largest investment in 2024 through an LBP.
Token launchpad Fjord Foundry finished its token FJO pre-sale this Friday with over $15 million raised. The pre-sale was based on the Liquidity Bootstrapping Pool (LBP) model in Fjord Foundry’s own launch platform, with the FJO starting at $5.36 on April 16 and closing at $2.32.
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. pic.twitter.com/oL3kFdJPVU
— Fjord Foundry (@FjordFoundry) April 19, 2024
The LBP model operates on a supply and demand basis, as the token price falls during the pre-sale and is brought back up by investors’ demand. According to the LBP campaign page, FJO will give stakers a portion of rebought FJO tokens from platform revenues, potential participation in other projects’ token airdrops, raise hard acquisition caps in pre-sales, and access to new LBP models.
Moreover, FJO’s trading volume neared $24 million in the LBP, and its liquidity surpassed $17 million. At the time of writing, LBP investors have claimed 88% of the 7.5 million FJO tokens sold.
The sale happened one month after Fjord Foundry’s team raised $4.3 million from funds such as Mechanism Capital and Lemniscap, including the participation of blockchain game Illuvium’s co-founder Kieran Warwick.
In an X post, the team celebrated the largest LBP sale of 2024. “We couldn’t be more confident about the future prospects for $FJO.”
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight – and oversight – of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.