Decentralized token-swapping protool Poolz has completed a $1M private sale of its native token. The private round was led by the Foundry (DuckDAO and Ferrum) and blockchain VCs such as Genesis Block, SevenX Ventures, and Alphabit, and was oversubscribed by 25x.
Funds from the private sale will be used to fuel development of Poolz’ cross-chain protocol for DeFi token swaps and third-party fundraising. Other participants in the $1M private round included GBV Capital, Phoenix Capital, DuckDAO, Aggressor Ventures, and OMS Capital.
Guy Oren, CEO of Poolz, said: “We are extremely grateful to all of the investors who have trusted in our team’s ability, innovation, and vision, and who believe that the future of blockchain is interoperable and that we are ideally placed to realize this goal. The level of demand for the native POOLZ token took us by surprise, and we could have filled our private round many times over. This augurs well for the future of cross-chain token sales, which Poolz will support, and for the forthcoming Poolz public auction.”
Interest in Poolz has intensified following partnerships and collaborations with industry leaders including The Foundry Incubator, DuckDAO, Ferrum Network, TomoChain, and Moonbeam. The latter deal saw Poolz add support for Moonbeam’s Ethereum-compatible smart contract platform, to support cross-chain token sales and liquidity auctions, which will be implemented via the Poolz platform.
Poolz has now integrated with four of the leading smart contract networks including Ethereum, TomoChain, and Polkadot, whose token standards are all supported by Poolz. Support for additional blockchain networks will be announced in the near future. They will power Poolz’ cross-chain implementation and help blockchain projects to raise capital against their own native token and fund their ecosystem development.
The date for the forthcoming Poolz public auction, in which community members will be able to bid for an allocation of POOLZ tokens, will be announced soon.
Poolz is a decentralized, swapping protocol for cross-chain auctions of Fungible and Non-Fungible (NFT) tokens, as well as OTC deals. The core code is optimized for DAO ecosystems, enabling startups and project owners to bootstrap liquidity for their crypto-assets, prior to listing. The Poolz platform has already integrated with multiple blockchains and is planning to add support for the 10 largest blockchain networks.