Formation FI Makes DeFi History as SHO Fundraiser Gets Oversubscribed by 200x
Formation FI has achieved a massive feat in the decentralized finance world, as its Strong Holder Offering (SHO) event conducted on DAO MAKER’s DAO PAD on June 7, 2021, successfully raised $45 million via a record-breaking 6,020 SHO registration
FORMATION.FI Launches to Give Yield Farmers More
Formation FI, decentralized finance (DeFi) platform that’s focused on revolutionizing the world of yield farming by integrating a risk parity strategy that distributes risk across multiple uncorrelated assets within the crypto space, has successfully completed its Strong Holder Offering (SHO).
According to the team, the record-breaking SHO event raised an impressive $45 million from 6,020 registrations, making it the highest SHO event in the history of the DAO Maker PAD (200X oversubscribed).
During the SHO event, participants contributed their $DAO or $USDC tokens and were issued $FORM, which is the native crypto powering Formation FI Smart Yield Farming 2.0 ecosystem.
The team says the hugely successful SHO was quickly followed by a strategic funding round that enabled Formation Fi to raise $3.3 million from investors.
A Game Changer
Decentralized Finance (DeFi) has been touted as the future of crypto by experts and Formation FI is aiming to be a game-changer via its fail-proof risk parity system, a tested and trusted strategy it says was first introduced in the stock markets by billionaire hedge fund manager, Ray Dalio.
“We would like to thank all participants for their active involvement with Formation Fi. We appreciate your effort and ongoing support for building together with 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,” declared the team.
While there are a plethora of channels available for DeFi projects to launch their product offerings these days, Formation FI says it chose DAO Maker as its best choice as it offers a “secure fundraising platform that allows retail investors to act like venture capitalists, while also enabling blockchain startups to jump-start their projects.”
What’s more, Formation FI has made it clear that its platform is chain agnostic, community-oriented and above all, it is built to stand the test of time.
For those who are unaware, SHO is a relatively new form of fundraising for blockchain projects. It enables DeFi platforms such as Formation FI to raise funds from members of the public. The ideal investors are selected through a series of parameters.
With Formation FI SHO done and dusted, the team says details concerning the $FORM token listing will be released shortly.