TechFlow reports that cryptocurrency auction platform CoinList has announced the relaunch of its token auction mechanism, with the first project being Enso, an intent-based engine. The auction will run from 1:00 AM Beijing time on August 1 to 1:00 AM on August 8.
Auction details are as follows: a supply of 5 million ENSO tokens (5% of total supply), with a reserve price of $1.50 and starting bid price of $8.00.
Token vesting schedule: 15% unlocked at TGE, followed by linear release over 6 months. TGE is expected around September 15, 2024. Minimum investment is $100, maximum is $2.5 million. Only USDT/USDC will be accepted.
CoinList stated that the relaunched auction mechanism aims to enable community-driven pricing. It previously hosted successful auctions for projects including Solana, Flow, and Celo in 2020. Participants must complete KYC and maintain good standing; they may place multiple bids and update their bids during the auction period.
