WalletConnect Raises $4M in Massively Oversubscribed Community Round on CoinList
We’re thrilled to announce the success of the WalletConnect Community Round on CoinList, which was oversubscribed by nearly 4x.
WalletConnect is one of the most used tools in crypto, omnipresent in the crypto world with availability – and the famous blue logo – spanning almost every leading web3 app today.
The Community Round attracted over 18,000 successful purchasers from over 100 countries, contributing to the growth and decentralization of the WalletConnect community.
Registered participants pre-funded $15.5M in purchases, far surpassing the target raise amount of $4M. 100% of tokens purchases in the Community Round will be fully vested and unlocked once transferability is enabled.
The “filling up from the bottom” allocation mechanism
Allocations for the sale were selected based on the innovative “filling up from the bottom” method, designed to maximize the number of individual participants while allowing for purchasers with more capital to express their demand — a true community sale.
We selected the minimum allocation across the most number of people (removing those suspected of fraud, TOS violation, etc) and continuously “filled up” the allocation up to each user's maximum purchase amount. The max allocation per user was $399.
We anticipate more teams leveraging this design and ensuring that the maximum number of community members get real skin in the game.
Stay tuned for our next sale, to be announced shortly!
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