Pre-launch financing for ETH project reaches $46 million, split across three investment rounds
In a significant development for the blockchain industry, ETH Strategy, a treasury accumulation protocol, has successfully concluded its pre-launch funding round, raising a total of 12,342 ETH (approximately $46.5 million).
The fundraising campaign, which took place in ETH, was structured into three parts: 6,900 ETH from a private pre-sale, 1,242 ETH from a public sale, and an additional 4,200 ETH raised via Puttable warrants.
The private and public sales offered 10,000 STRAT tokens per ETH, while the Puttable warrants offered 8,333 STRAT tokens per ETH. A 2-month linear unlock was implemented from the token generation event, followed by a 4-month lock-up period for the tokens.
The funds raised will be primarily deployed into ETH staking, protocol liquidity, and protocol growth and development activities. The phased rollout for the ETH Strategy protocol has now begun.
The STRAT token, the native token of the ETH Strategy protocol, went live on Tuesday at 9:00 AM ET. Liquidity for the STRAT token will be launched on Uniswap v4, and the Uniswap v4 launch will feature a single-sided pool with an ATM mechanism.
This fundraising round is part of an effort to boost institutional adoption and marks a significant step forward for ETH Strategy. The funds will help in further developing the protocol and solidifying its position in the blockchain industry.
[1] ETH Strategy raises $46.5 million in pre-launch funding [2] ETH Strategy announces fundraising details [3] ETH Strategy outlines token distribution and lock-up details [4] ETH Strategy reveals Uniswap v4 launch details [5] ETH Strategy announces phased rollout plan
[1] The successful pre-launch funding round of ETH Strategy raised approximately $46.5 million, attracting interest from the investing community.
[2] As part of the fundraising campaign, ETH Strategy announced details on the distribution of their native token, STRAT, which will be used for various technology-driven growth activities within the blockchain and finance sectors.
