The MOCA Foundation has successfully concluded the MOCA Token Launch, surpassing its target by 12 times with pre-deposits totaling US$29.3 million. The launch, powered by MocaList and CoinList, saw exceptional demand, achieving oversubscription within the first 6 hours. The token distribution event is scheduled for May 24th, with 126,984,127 MOCA Tokens allocated at a price of US$0.03938 each.
MOCA Token Launch Surpasses Expectations with Record-Breaking Demand
May 3, 2024 - New York – The MOCA Foundation, a community-owned cultural foundation and custodian of the $MOCA token, has announced the successful completion of the MOCA Token Launch, amassing pre-deposited funds totaling US$29.3 million. This exceptional result represents an impressive 12-fold oversubscription of the initial target.
The MOCA Token Launch unfolded seamlessly on MocaList, Mocaverse's innovative co-branded token launchpad, and CoinList. The joint efforts of Moca ID, the credentialing system integral to the Mocaverse ecosystem, Mocaverse Partners Network, and CoinList culminated in unparalleled accessibility and inclusivity for this groundbreaking offering.
The Moca gross selling niche campaign commenced on April 25, 2024, at 12:00 UTC, swiftly surpassing the US$5 million sales target in less than six hours. This remarkable achievement marks the fastest token launch to achieve oversubscription on CoinList in 2024.
The highly anticipated bid concluded on May 2, 2024, with the MOCA Token Launch garnering the distinction of the largest general sale day-of-sale on CoinList in 2024. The event attracted approximately 17,000 unique users with completed know-the-client entries representing 123 regions globally, with significant participation from the Mocaverse network.
The final allocation of tokens related to the MOCA Token Launch is scheduled to be disclosed on May 7, 2024. Subsequently, the token distribution event is anticipated to transpire around May 24, 2024. Notably, 126,984,127 MOCA Tokens, constituting 1.5% of the total token supply, were allocated for the MOCA Token Launch at a price of US$0.03938 per token. The aggregate market value of the MOCA Token at full circulation is estimated at US$350 million.
The MOCA Token Launch and access to the allocation were enhanced by a series of preferential conditions for participants, including tailored token allocations for specific segments. The vesting structure provides all participants with immediate access to 5% of their unlocked tokens at token generation event (TGE), subject to a three-month vesting cliff. This will be followed by a gradual linear-release mechanism over approximately 52 weeks, facilitated by a token unlocking protocol provided by CoinList.
Bolstered by these remarkable achievements, the MOCA Foundation remains steadfast in its mission to serve as a catalyst for the Mocaverse's cultural network effects. By leveraging the collective power of its partners and the unwavering support of its community, the foundation aims to foster a vibrant ecosystem that empowers creators, collectors, and cultural enthusiasts alike.
