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Decentralized token-swapping protool Poolz has completed a $1M private sale of its native token. The private round was led by the Foundry (DuckDAO and Ferrum) and blockchain VCs such as Genesis Block, SevenX Ventures, and Alphabit, and was oversubscribed by 25x.
Funds from the private sale will be used to fuel development of Poolz’ cross-chain protocol for DeFi token swaps and third-party fundraising. Other participants in the $1M private round included GBV Capital, Phoenix Capital, DuckDAO, Aggressor Ventures, and OMS Capital.
Guy Oren, CEO of Poolz, said: “We are extremely grateful to all of the investors who have trusted in our team’s ability, innovation, and vision, and who believe that the future of blockchain is interoperable and that we are ideally placed to realize this goal. The level of demand for the native POOLZ token took us by surprise, and we could have filled our private round many times over. This augurs well for the future of cross-chain token sales, which Poolz will support, and for the forthcoming Poolz public auction.”
Interest in Poolz has intensified following partnerships and collaborations with industry leaders including The Foundry Incubator, DuckDAO, Ferrum Network, TomoChain, and Moonbeam. The latter deal saw Poolz add support for Moonbeam’s Ethereum-compatible smart contract platform, to support cross-chain token sales and liquidity auctions, which will be implemented via the Poolz platform.
Poolz has now integrated with four of the leading smart contract networks including Ethereum, TomoChain, and Polkadot, whose token standards are all supported by Poolz. Support for additional blockchain networks will be announced in the near future. They will power Poolz’ cross-chain implementation and help blockchain projects to raise capital against their own native token and fund their ecosystem development.
The date for the forthcoming Poolz public auction, in which community members will be able to bid for an allocation of POOLZ tokens, will be announced soon.
About Poolz
Poolz is a decentralized, swapping protocol for cross-chain auctions of Fungible and Non-Fungible (NFT) tokens, as well as OTC deals. The core code is optimized for DAO ecosystems, enabling startups and project owners to bootstrap liquidity for their crypto-assets, prior to listing. The Poolz platform has already integrated with multiple blockchains and is planning to add support for the 10 largest blockchain networks.
We’re picking pace by the day and doing all we can to bring the best of POOLZ token and the Poolz platform to our community.
As a project, we believe in what we are creating and we want our community to have evidence of our belief in what we envision. Today, as Poolz is hitting milestones and creating history, we took another bold step to convey our confidence in our project to the Poolz community.
We have locked 100% of Poolz liquidity worth $500k for one year.
This means, $500k worth of POOLZ tokens will be locked for the next 12 months and we cannot liquidate it or exchange it. We took this step so we remain in sync with our investors, share a common feeling with them, and make them more confident about their decision of investing in POOLZ.
Poolz is here with a long-term vision and we wish to create value for every single one of you involved in the blockchain and crypto space. And we’re taking all necessary measures to win your trust and boost your confidence.
Just in case you’re not yet aware, we’ve already listed the POOLZ token on Uniswap and you can now either swap it or add POOLZ liquidity.
If you want to invest in POOLZ or add POOLZ liquidity through Uniswap, please follow the steps described on our site.
We look forward to keeping up our efforts and add more value to you and the whole Poolz community.
Onward and Upward.
$POOLZ liquidity providers to enjoy 3 major revenue streams:
- Uniswap LP rewards
- 30,000$ worth of $POOLZ Liquidity Program rewards per month
- Liquidity providers' tokens will be counted for IDO participation!