DeFi security provider Sherlock aims to raise $100 million in token round (via _tommatsuda)
Protocol security solution Sherlock hopes to widen its investor pool beyond VCs and angels.
Sherlock's token round will operate on a first-come, first-served basis. It will see the total USDC be split between the Sherlock staking pool and the Sherlock treasury, with 90% going to the former. After six months, funds in the staking pool will be rewarded with 1 SHER token for every 10 USDC staked. The remaining 10% in USDC is locked in Sherlock's treasury and cannot be returned to investors.
The fundraising follows a spree of similar token-based rounds. The non-profit Luna Foundation Guard, for example,
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