TownSquare Officially Opens Sonar Public Sale Registration, Launching the First Sonar-Supported Monad Ecosystem ICO
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TownSquare Officially Opens Sonar Public Sale Registration, Launching the First Sonar-Supported Monad Ecosystem ICO
TownSquare, the infrastructure for institutional yield and cross-chain lending brokerage services, has opened its ICO registration.
Navigating Web3 tides with focused insightsTownSquare, the infrastructure for institutional yield and cross-chain lending brokerage services, has opened its ICO registration. According to official news, the TownSquare ICO is the first Sonar ICO based on the Monad chain; the public sale is technically supported by the Echo Sonar platform within the Coinbase ecosystem, with valuation divided into two tiers: a $150 million valuation based on a 6-month lock-up, and a $200 million valuation with full release at TGE with no lock-up, raising a cap of $1 million, releasing approximately 0.666% of the total TOWN token supply. This is the first public sale based on Monad L1 on Sonar, supporting USDC and USDT0 currencies on Monad.
Previously, TownSquare completed a total of 3 rounds of financing totaling $16.25 million, with participation from World Liberty Financial, Auros Ventures, Amber Group, Animoca Ventures, OKX Ventures, as well as angel investors and institutions from ecosystems such as Monad and a16z; it is estimated that the previous valuation is comparable to this ICO valuation.
It is reported that TownSquare has integrated yield paths from high-performance chains such as Monad, Base, and BNBChain, and the TOWN token will also represent a new cross-chain token operation model, incentivizing yield strategies on different chains.
This Sonar public sale is one of the rare public sales in the market this year; previously, the MegaETH public sale was also an ecosystem ICO conducted on Sonar.
TownSquare Sonar public sale registration is now open. The official public sale will begin on July 20 at 9 PM HKT.
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