Cetus DEX’s IDO oversubscribed after Sui mainnet launch By Cointelegraph
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Just hours after the initial decentralized exchange offering (IDO) for Cetus began on May 8, its hard cap target of 800,000 Sui (SUI) tokens has already been surpassed, with over 6 million SUI committed worth approximately $6.85 million at the time of publication. Developers claimed that the IDO reached its initial goal in less than 30 seconds after the sale went live.
Cetus is a DEX and liquidity protocol built on Sui and Aptos. The IDO, which is scheduled to take place from May 8 to 10, is still ongoing despite the initial target being reached. During the IDO, 20 million Cetus tokens (CETUS) are up for grabs out of a total supply of 1 billion CETUS. Users can commit SUI in exchange for CETUS at an exchange rate of 1 SUI to 25 CETUS. The rules and token metrics of the public sale, along with the price of SUI, would place the Cetus DEX at an initial valuation of $45.8 million.
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© Reuters.
Just hours after the initial decentralized exchange offering (IDO) for Cetus began on May 8, its hard cap target of 800,000 Sui (SUI) tokens has already been surpassed, with over 6 million SUI committed worth approximately $6.85 million at the time of publication. Developers claimed that the IDO reached its initial goal in less than 30 seconds after the sale went live.
Cetus is a DEX and liquidity protocol built on Sui and Aptos. The IDO, which is scheduled to take place from May 8 to 10, is still ongoing despite the initial target being reached. During the IDO, 20 million Cetus tokens (CETUS) are up for grabs out of a total supply of 1 billion CETUS. Users can commit SUI in exchange for CETUS at an exchange rate of 1 SUI to 25 CETUS. The rules and token metrics of the public sale, along with the price of SUI, would place the Cetus DEX at an initial valuation of $45.8 million.
Continue Reading on Coin Telegraph
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