Hong Kong, Hong Kong, 11th June, 2021,
DAO Maker, the platform reinventing venture capital for the masses, is pleased to report new usage records for its Strong Holder Offering (SHO), a particular spin on Initial DEX Offerings (IDO) focused on power users.
Specifically, DAO Maker’s DAO Pad has recorded 6,020 SHO registrations for Formation Fi, a new DeFi project revolutionizing smart yield farming. The number of registrations is the highest yet, and corresponds to 14.4 million DAO Power committed, equivalent to $45 million in DAO tokens and USDC. The SHO round for Formation Fi is the most oversubscribed and participated yet in the history of DAO Maker, with the project only offering $200,000 worth of tokens in the public sale, thus generating over 200x the demand.
Formation Fi had earlier received a strategic funding round for $3.3 million led by the founders of some of the iconic Defi projects such as Bancor, Synthetix, and Polygon, choosing to launch an IDO on DAO Maker to turbo-charge the growth of its organic community of holders and raise the awareness of its product vision among the early adopters of Defi.
“We believe DAO Maker has the most organic and passionate community of investors out there, and it’s really amazing to see how much interest our project generated during one of the most challenging market conditions in recent months,” said Krzysztof Gagacki, co-founder of Formation Fi.
DAO Maker’s SHOs are a new form of fundraising for public rounds that filters applicants based on parameters that indicate their propensity to hold tokens. This ensures projects receive motivated community members, instead of “mercenaries” looking to quickly sell the token. Breaking the SHO record indicates both the perceived quality of the Formation Fi project and DAO Maker’s stunning growth.
“We want to congratulate the Formation team on the successful SHO on our platform.”, said Christoph Zaknun, CEO of DAO Maker. “Despite the market shakeups, we are proud to say that we’ve hit another participation record on the DAO Pad. DAO Maker works hard to bring the best investment opportunities even during turbulent market conditions.”
About DAO Maker
Founded in 2018, DAO Maker creates growth technologies and funding frameworks for startups while simultaneously reducing investors’ risks. DAO Maker provides leading solutions in community incubation, fundraising, and other growth-related techs for tokenized businesses, featuring Social Mining SaaS for community growth, DYCO & SHO for fundraising support, and upcoming Venture Bond & YieldShield to create safe environments for retail investors.
About Formation Fi
Formation Fi is a DeFi project that aims to take yield farming to another level by integrating the risk parity strategy first implemented by billionaire hedge fund manager Ray Dalio for stock markets. The yield farming protocol developed by Formation Fi distributes risk across multiple uncorrelated assets within the crypto space. The protocol is chain agnostic, community-oriented, and targets long-term success.
- Krzysztof Gagacki