MOCA Foundation, the community-owned cultural foundation and steward of MOCA Token, has concluded MOCA Token Launch, which was conducted on MocaList, a new co-branded token launchpad jointly launched by Animoca Brands Corporation's Mocaverse and CoinList.
The MOCA Token Launch drew an overwhelming response with total pre-deposited funds of US$29.3 million, representing a 12-times oversubscription. The oversubscription was calculated based on the available lots excluding guaranteed allocation.
Access to the offering was gated by Moca ID, with access distributed to curated communities from Animoca Brands' Mocaverse, its Mocaverse Partners Network and CoinList via various activation campaigns.
Overwhelming response
The sale started on April 25, 2024, at 12 am UTC and surpassed its US$5 million sale target in less than six hours, marking the fastest token launch on CoinList in 2024 to reach oversubscription.
When the MOCA Token Launch ended on May 2 it had become the top-funded sale on CoinList so far in 2024, with participation by nearly 17,000 unique KYC-ed users from 123 different countries and record participation from the Mocaverse community.
About the launch
About the MOCA Token Launch:
- A total of 126,984,127 MOCA Tokens, representing 1.5% of the total token supply, were allocated for the MOCA Token Launch at a price of US$0.03938 each.
- Fully diluted value of the total MOCA Token supply is US$350 million.
- Participants in the MOCA Token Launch received the most favorable vesting terms across different verticals, with 5% unlocked at TGE, a three-month cliff period, and a 52-week linear release facilitated by the CoinList platform.
Final allocations for the MOCA Token Launch are expected to be announced on May 7, 2024, with the token distribution to take place on or around May 24, 2024.
About MOCA Foundation
MOCA Foundation is the community-owned foundation that aims to supercharge Mocaverse’s network effects for culture and entertainment. Its mission is to empower unity and collaboration, and to be at the forefront of innovation in governance, culture and growth.
It serves as the platform to build the largest interoperable cultural economy in the Web3 space powered by the MOCA Token and support the growth of Moca DAO, an upcoming 'DAO of DAOs' where members will take the lead in co-creating MIPs and engaging in cross-DAO empowerment through unique delegation models.