Within hours of the launch of Cetus' Initial Decentralized Exchange Offering (IDO) on May 8, its hard cap target of 800,000 Sui (SUI) tokens had been surpassed, with more than 6 million committed at launch SUIs worth approximately US$6.85 million. Developers claim that the IDO hit its original goal in less than 30 seconds after the sale went live.
Cetus is a DEX and liquidity protocol built on top of Sui and Aptos. The IDO, scheduled for May 8-10, is still ongoing despite meeting its original goals. During the IDO, 20 million Cetus Tokens (CETUS) are up for grabs out of a total supply of 1 billion CETUS. Users can pledge SUI in exchange for CETUS at an exchange rate of 1 SUI to 25 CETUS. The rules and token metrics of the public sale and the price of SUI will give Cetus DEX an initial valuation of $45.8 million. Within hours of the launch of Cetus' Initial Decentralized Exchange Offering (IDO) on May 8, its hard cap target of 800,000 Sui (SUI) tokens had been surpassed, with more than 6 million committed at launch SUIs worth approximately ly US$6.85 million. The developers claim that the IDO hit its original goal in less than 30 seconds after the sale went live.
Cetus is a DEX and liquidity protocol built on top of Sui and Aptos. The IDO, scheduled for May 8-10, is still ongoing despite meeting its original goals. During the IDO, 20 million Cetus Tokens (CETUS) are up for grabs out of a total supply of 1 billion CETUS. Users can pledge SUI in exchange for CETUS at an exchange rate of 1 SUI to 25 CETUS. The rules and token metrics of the public sale and the price of SUI will give Cetus DEX an initial valuation of $45.8 million. While IDOs can outgrow their original goals due to popularity, others can also achieve this result simply through the way their designs are publicly sold, ie delicately "outperforming". Like their initial coin offering counterparts, invest ing in IDOs is considered high- risk and could be subject to canvassing, scams, or lack of traction thereafter.
A layer-1 blockchain created by former Meta executives, the Sui mainnet officially launched on May 3, along with its Sui token. The SUI public sale happened a few weeks ago at 0.1 Tether. According to SUI. After going public, SUI opened at $4.50 per share, giving it a fully diluted market capitalization of $45 billion, before plummeting 75% to $1.14 at the time of publication. Ahead of listing, Binance launches Sui LaunchPools where users can stake BNB or TrueUSD (TUSD) for limited SUI rewards. The total value of LaunchPools reached nearly $4 billion in just two days.
