Plutons!
We’re incredibly grateful to announce that our private round has now concluded and from all perspectives was a resounding success! The purpose of this private round was to keep it small and more importantly to offer loyal Dopex ecosystem community members the opportunity to buy in before anyone else. In our mind, community always comes first.
Private Round Recap
We managed to raise ~$810k which equates to roughly 45% of our original goal. We’d like to thank each and every participant — in our eyes, seeing a turnout of nearly 700 unique Dopex ecosystem members means we’ve managed to gain the trust of the community relatively quickly. Not only are we extremely satisfied with how much we raised, we’re also very pleased that depositors got an increasingly competitive deal as we didn’t fill the entire round.
True to our word, the entire 4.2% allocation designated to the round will be distributed amongst participants. This means that participants will now walk away with approximately 2.2x the amount of PLS tokens as compared to if we would have filled the entire round. This currently implies a $19M FDV for Plutus. As a refresher — tokens from the private round are locked for three months and vested for three months after that. They will be staked in the PLS single-sided farm for the entirety of this duration.
Next Steps for Plutus
The funds from this private round are going to allow us to ensure development stays on-going and that the team has the resources to give their full attention to the project. Additionally, it enables us to bring on two more devs, set aside funds for an audit down the line and pay for other operational costs.
We’re really looking to ramp-up development and communications during April. In practice this means we’ll have a variety of community initiatives and further articles highlighting different parts of Plutus while we prepare for launch behind the scenes.
Most importantly, for April we’re going to be fully committed to sprinting towards our product launch and public round, which will both be taking place between the end of April and early May. We’ll be sharing more details as we get closer to launch — stay tuned!
We’re grateful to have you all onboard for the ride. Remember — we’re only just getting started. Here’s to some solid nGu-tech and future success! 🥂
