Historic SHO Record Broken, 45 Million Dollars Committed, 200X Oversubscribed
Dear Formation Community,
We are very excited and proud to announce that we have officially broken the all-time Strong Holder Offering (SHO) registration record on DAO Marker’s DAO PAD, with 6,020 SHO registrations. So far, this is the highest number of registrations ever on DAO PAD for SHO events.
Formation Fi conducted its SHO event on Tuesday, June 7, experiencing an exponential interest and surge from the DeFi community, which reflects the intense start of DeFi Summer 2.0. During the event, $FORM, which is the project’s native token that fuels our ecosystem revolving around Smart Yield Farming 2.0, was made available to the DAO community for the first time ever.
- Formation Fi Breaks All-Time SHO Registration Record (6,020 SHO)
- 14.4 MILLION DAO POWER COMMITTED = $45 MILLION ($DAO+ $USDC)
- 200 Times Oversubscribed from public sale amount.
🚨🚨🚨 OFFICIAL LISTING DATE WILL BE ANNOUNCED SOON!!!
Formation Fi picked DAO Maker as it provides a secure fundraising platform that enables retail investors to act like venture capitalists while helping blockchain startups jump-start their projects. The SHO followed a successful strategic funding round during which Formation Fi raised $3.3 million.
We would like to thank all participants for their active involvement with Formation Fi. We appreciate your effort and ongoing support for building together our robust and fast-growing smart yield farming ecosystem.
We would also like to thank our ecosystem partners and team for supporting the building of a flawless DeFi protocol that prioritizes the risk-reward relationship and brings value to all users.
Formation Fi enjoys having such a vibrant community and will continue to promote the smart yield farming trend.
SHOs, a relatively new form of fundraising method for public rounds that select applicants based on a series of parameters to find the ideal type of holders, have been around for quite some time. Thus, breaking the SHO registration record proves once again that Formation Fi is on the right track.
About Formation Fi
Formation Fi is a DeFi project that aims to take yield farming to another level by integrating the risk parity strategy first implemented by billionaire hedge fund manager Ray Dalio for stock markets. The yield farming protocol developed by Formation Fi distributes risk across multiple uncorrelated assets within the crypto space. The protocol is chain agnostic, community-oriented, and targets long-term success.
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