PoseiSwap’s IDO and IEO have ended, and it is about to be launched on BNB Chain
PoseiSwap is the first DEX built on the Nautilus Chain. It is developing its own Rollup application layer based on a modular Layer3 architecture and ZKP provided by Nautilus Chain. PoseiSwap utilizes an order book as the trading model, laying the groundwork for future feature expansions.
Recently, PoseiSwap has achieved significant market progress. Apart from securing $1.5 million in funding from the Zebec Labs Foundation at a valuation of $10 million, it has also received a new round of funding from renowned industry investment institutions such as Gate Labs, Emurgo Ventures, Republic, and Cipholio Ventures, with a valuation of $25 million. The specific amount of the financing, however, has not yet been disclosed.
Following successful fundraising, PoseiSwap launched its governance token, POSE, and listed it on Bounce and Bitforex through IDO and IEO, respectively. All market selling activities have now concluded. With the release of the POSE token, PoseiSwap is scheduled to launch on the BNB Chain on June 28th and has plans to expand to other chains in the future.
A Review of the Two Rounds of Market Sales
On June 18th at 00:00 (UTC), PoseiSwap officially launched its IDO on Bounce, marking the first round of POSE sales by PoseiSwap. The number of registered users on the whitelist for this sale exceeded 15,000, and the sales target was swiftly achieved.
Following the IDO, PoseiSwap initiated a new round of IEO on Bitforex on June 23rd at 10:00 AM (GMT+8). Once again, the sales target was reached ahead of schedule. It is reported that following the IEO and IDO, PoseiSwap will continue its expansion efforts.promote new market developments, including listing POSE on different DEX, CEX platforms, and some governance and incentive activities.
It is understood that users who participated in the IDO and IEO will have their purchased POSE tokens gradually unlocked and made available to the market after a 45-day lock-up period. The unlocking process will occur in stages, with an initial release of 5%. This will be followed by a monthly unlock of 1% for the subsequent five months, and the remaining 90% will be unlocked in the seventh month.
After the unlocking period for POSE, PoseiSwap plans to gradually reduce the market circulation supply of POSE through various pledging activities, including governance mechanisms similar to Curve, staking, LP, etc..
PoseiSwap is about to deploy on the BNB Chain.
Currently, PoseiSwap has completed its early development phase and launched version 2. It has been reported that following the IEO, PoseiSwap plans to deploy on the BNB Chain on July 3rd. It will gradually introduce some early features, including trading and staking, as well as new features based on the current version. PoseiSwap has received support from the Zebec ecosystem, and Zebec Protocol has gained traction from top ecosystems such as PancakeSwap after migrating to the BNB Chain, attracting a significant user base. This implies that PoseiSwap is also anticipated to receive support from the Zebec community on the BNB Chain. Additionally, aside from the BNB Chain, PoseiSwap will gradually expand its presence to other chains.
Furthermore, the Nautilus Chain is on the verge of launching its mainnet. Once the official version of the mainnet is released, PoseiSwap will introduce versions 3 and 4 (currently version 2) based on this chain. The new versions (v3, v4) will bring private transactions and order book models with enhanced functionality, laying the groundwork for the future deployment and trading of RWA assets such as US stocks, US bonds, and stocks.
The PoseiSwap ecosystem is set to embark on an exciting journey, and the DEX sector is expected to enter a new era of value.
About PoseiSwap
PoseiSwap is dedicated to bringing decentralized finance to the real world. By building on Nautilus Chain, PoseiSwap offers users a high throughput DEX with low fees and lower slippage. Beyond that, PoseiSwap will also use Nautilus zk-tech in the future to give users privacy and make Posei suitable for tokenized real-world items and assets.
Learn more about PoseiSwap and join the conversation online!
