Lion DEX Smashes Fundraising Goals, Raises $6.79M in IDO

LionDEX Launches Successful IDO 

LionDEX has raised 6,799,033 USDC from its $LION IDO with 340% oversubscription. 

LionDEX integrated V3 liquidity into its platform following the completion of the IDO. The decentralized exchange launched its first Launchpad with $LION IDO on April 1, 2023, offering the governance token $LION for a minimum investment of 1000 USDC.

As the governance token of LionDEX, $LION is used for voting, pre-deposit fees, and revenue distribution within the LionDEX protocol. The maximum supply is 1 billion, of which 10% (34,000,000 LION + 66,000,000 esLION) were available for IDO purchases at $0.05. $esLION tokens used for pre-deposit fees for $LION can be converted into $LION tokens via vesting. 

The treasury on UniSwap V3 has received 600,000 USDC and 30,000,000 LION from the funds raised. The developer of LionDEX will receive 600,000 USDC as development expenses. In addition, there will be an allocation of 800,000 USDC to manage market capitalization.

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LionDEX Launched New NFT Collection

LionDEX released LionDEX Explorers Club (Club) NFT collection along with the $LION IDO. The LionDEX Genesis Non-Fungible Tokens (NFTs) issued following ERC721 standards offer an excellent way to participate early in the LionDEX launch. 

Those who hold LionDEX Genesis NFTs will have access to the protocol's revenue, governance token distribution, and guaranteed future earnings from future growth. 

Additionally, the top 500 users who invested more than 1000 USDC were eligible for an airdrop of an additional NFT. With this NFT, Staking Earn's yield can be increased by 2%. There were 2,000 NFTs in the collection at a price of 900 USDC. 

As reported, before the MainNet officially launches, the LionDEX TestNet will upgrade to V2, and it will run for 7-10 days. Furthermore, Peckshield will provide an audit report before MainNet.

LionDEX ($LION) is trading at $0.05 on SushiSwap.

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What is LionDEX:

LionDEX offers multi-chain decentralized derivatives perpetual futures services. The "PvP-AMM" protocol, which is based on "point-to-pool," enables rapid response to trading instructions while eliminating trading spreads. The protocol has low transaction fees and no lending or holding fees.

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Learn more about LionDEX:

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