CICADA Finance, the first DeFi project to use USD1 to complete over-raising of US$18 million, set off a market boom

PANews reported on June 29 that CICADA Finance announced the completion of Fair Launch, achieving an oversubscription of US$18 million, becoming the first DeFi financing case based on USD1, and is committed to building a leading platform for protocol asset management and stablecoin application expansion. In conjunction with Metalpha, CICADA Finance provided technical support to launch a new mechanism for uncollateralized leveraged IPOs, allowing all participants to participate at the same valuation and choose their own funding plan. Participating institutions include CLabs, Comma3, Eureka, FBG, Kronos, MetaEra, PEER.VC, RaveDAO, SNZ, Stratified, Taihill, Waterdrip and dozens of others.