blockchainreporter.net
The MOCA Foundation has reported the successful completion of the MOCA Token Launch by officially staking the US$29.3 million pre-deposited. This number is an excellent result as it represents an oversubscription of 12 times the original target. The MOCA Token Launch took place on MocaList, which is Mocaverse’s inventive co-branded token launchpad and CoinList.
.@MOCAFoundation, the community-owned cultural foundation and steward of $MOCA, announced today the conclusion of the MOCA Token Launch, with total pre-deposited funds of US$29.3 million, representing a 12x oversubscription.
— Animoca Brands (@animocabrands) May 3, 2024
Details: https://t.co/dYYjkt0oA1. pic.twitter.com/Z1MVK17mDg
MOCA Token Launch Exceeds $5 Million Goal in 6 Hours
The business provided extraordinary accessibility enforcement for the groundbreaking offering by Moca ID, the credentialing system distributed over a unit of linked with the Mocaverse ecosystem, incorporating its Mocaverse Partners Network, and CoinList throughout an assortment of activation campaigns.
The Moca gross selling niche campaign was launched on April 25, 2024, at 12 a.m. UTC, exceedingly outworking the US$5 million sales goal in under 6 hours. It classifies the moment as the fastest occasion for a token launch to realize oversubscription on CoinList in 2024.
The bid concluded on May 2, 2024, with MOCA Token Launch acquiring the tallies of the greatest general sales day-of-sale on CoinList in 2024. It involved near 17,000 unique users with completed know-the-client entries from 123 regions, including a recorded gigantic payoff of the Mocaverse regional.
Token Distribution Event for MOCA Launch Set for May 24
The final allocation of resources associated with the MOCA Token Launch is expected to be disclosed on May 7, 2024. In turn, the token distribution event will occur around May 24, 2024. Overall, 126,984,127 MOCA Tokens, comprising 1.5% of the total token supply, were allocated for the MOCA Token Launch at a value of US$0.03938 per token. The total market value of the MOCA Token at all levels reached US$350 million.
The MOCA Token Launch and access to the allocation were laden with preferential conditions for participants in the form of token allocations for various segments. The vesting structure provided all participants in 5% of unlocked tokens at TGE. This sum has a presumed three-month vesting cliff. This will be followed by a nearly 52-week linear-release mechanism regulated by the use of a token unlocking protocol offered by CoinList.
Keeping in views above all developments, MOCA Foundation aspires to play a leading role in this effort as it seeks to catalyze the Mocaverse’s cultural network effects.