Corn’s ICO Oversubscribed Seven Times, Signaling Return of Public Token Sales
Recent trends indicate a resurgence in initial coin offerings (ICOs) within the cryptocurrency sector, paralleling shifts seen in pop culture. Key points include:
- Over 2,000 ICOs raised more than $10 billion during the 2017-2018 boom.
- Corn's recent token sale was oversubscribed by seven times, rejecting thousands of investors.
- Corn combines public token sales and yield farming, utilizing tokenized wrapped bitcoin (BTCN) as its native asset.
- The ICO took place on the MiCA-compliant platform Legion, with 4,300 applicants seeking $69 million; $8.3 million was allocated to around 700 investors.
- Legion allows KYC verification and connects projects with active crypto investors.
- Corn's founder emphasized transparency, stating that all investors received the same terms without hidden deals.
This evolution in ICOs suggests potential improvements over previous models, focusing on fairness and clarity in investment opportunities.