Factor, an asset management system based on Arbitrum, raised approximately $7.6 million from 4,000 unique wallets in its token offering that began on February 2. 20 and ends on Friday.
Now that the public sale is over, users will be able to claim their purchased FCTR tokens on Saturday, February 1. 25, at 18:00 UTC, which is at the same time the line starts trading on the decentralized exchange Camelot.
Key, which does not require users to learn coding to create custom asset management plans, aims to provide a central infrastructure for decentralized finance (DeFi) opportunities by aggregating different markets on its platform. . Several hours before the end of the four-day public sale, FactorDAO announced several changes on Twitter to reduce the initial supply and distribution to 18 million tokens, or 18% of the total supply, from 32.5 million initial tokens.
The first of these changes is the increased cost of the protocol for the USDC/FCTR route in Camelot. When participating in the token generation program, users will enter the USDC stablecoin into the protocol in exchange for FCTR. Half of the USDC proceeds from the current public auction will be channeled into the regulatory pool. Initially, only 40% will be used for the funds in the protocol.
Second, environmental incentives, such as clearing the air, are now 12 months old and are not immediately available. By Saturday, FCTR holders will be able to trade or place their marks. If users decide to invest their tokens as money, they will receive veFCTR, which allows them to participate in Factor’s governance system and receive 50% of the fees generated by the protocol, according to Factor’s documentation. Factor’s FCTR show has a market share of $13.6 million at press time, according to reports.
