TechFlow reports that the IEO for $JU, the first Launchpad project and native token of the JuCoin exchange, has concluded with total fundraising reaching 168,967,843.8964668 USDT. This amount exceeds the initial target of 630,000 USDT by approximately 268 times, with participation from 24,354 users.
The significant oversubscription has sparked controversy among participants. After the subscription ended, JuCoin did not refund the excess funds but instead announced a community vote proposing that oversubscribed funds be used to purchase $JU at 26.8 USDT per token, rather than the original IEO price of 0.1 USDT. Many participating users have demanded refunds, but JuCoin has not provided further response.
According to the latest voting results on the official website, the proposal "to subscribe to $JU at 26.8 USDT" has passed with 59.51% of voters in favor, exceeding the majority threshold.
