Polkadot Raises $43M in 72-Hour Private Sale: Source
(BitInfoCharts Block Explorer/CoinDesk Research)
A second private sale of the Polkadot token (DOT) netted the Web3 Foundation and Parity Technologies some 3,982.07 bitcoin (BTC) worth an estimated $43.3 million at press time, according to sources.
A Bitcoin address shared with CoinDesk saw 1,059 transactions beginning July 24 at 5:22 UTC.
- The token offering was not available in certain jurisdictions such as the United States, according to the sale’s website.
- DOTs were listed for $125 per token, according to Reddit users claiming to be involved in the sale.
- The Polkadot community voted to redenominate the smallest subunit of the DOT token, the Planck, this past weekend for a “simpler, smoother user experience when using DOTs within the network,” the Web3 Foundation said in a Tweet.
- “The community vastly favours a New DOT denomination which is defined as 10,000,000,000 Planck or, put alternatively, a ‘stock-split’ of the original, old DOT by one hundred,” Polkadot and Parity Technologies founder Gavin Wood said in a July 26 blog post.
- Polkadot raised $145 million in 2017, selling 50% of the network’s then 10 million DOTs, according to Messari. (The number of DOT tokens has since risen, following the redenomination vote.)
- The Web3 Foundation did not return requests for comment.
- Polkadot’s raise comes on the heels of last week’s $42 million public sale of the Avalanche blockchain’s AVAX token.
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