@solsticefi's token presale on @legiondotcc is underway and ends tomorrow night at 9 PM, so there's still a little over a day left.
Those who want to participate can also go to: app.legion.cc/solstice
Their pre-sale involves selling 5% of the tokens ($SLX), with a hard cap of $6.5 million, or $130 million in FDV. Half of the pre-sale tokens, TGE, will be unlocked, with the other half unlocking linearly over the next three months.
Whether this FDV and unlocking conditions are profitable is a matter of opinion. However, Solstice's fundamentals are indeed strong enough to support this FDV: it's the largest native stablecoin on Solana, with a TVL of $328 million, ranking 12th among all Solana protocols. Projects ranked ahead of Solstice all have FDVs higher than $130 million.
In the past couple of days, I've also seen some discussions about Legion, the fundraising platform Solstice is currently using to raise funds. The discussions mainly focus on Legion's allocation of tokens based on a "rating system." Some participants questioned whether the token allocation is excessively concentrated in the hands of a few influential individuals because their ratings are generally high.
Of course, no model is absolutely fair. However, I think Legion's scoring method is fairer and more beneficial to both investors and project teams compared to the traditional "first-come, first-served" and "number of accounts is king" methods.
For ordinary investors: Legion provides individual users with an opportunity to access institutional-level investment opportunities. If your knowledge, skills, or community contributions are recognized by the platform, you can participate in early-stage investments in high-quality projects, even with limited capital.
For project teams, Legion helps them find and build a "legion" of true supporters. These early holders are more likely to participate in community building long-term, rather than selling immediately after listing, which helps the project establish a healthier community culture.
Legion's Official Twitter said last night that they had accepted over 600 applications, and there should be even more now. 👇
twitter.com/EmberCN/status/200...
