Dfinity Foundation to Raise $102M During Closed ICO

Andreessen Horowitz, Polychain Capital, SV Angel, Aspect Ventures and Multicoin Capital took part in financial round
30 August 2018   2027

The Dfinity Foundation project conducted the closed sale of tokens for accredited investors, raising $ 102 million to create its own blockchain protocol. The round of financing was headed by the cryptocurrency division of the venture company Andreessen Horowitz (a16z). This is reported by Bloomberg.

Polychain Capital, SV Angel, Aspect Ventures and Multicoin Capital took part in financial round too. The price of one token at the same time was $ 4.18, and coins for a total of $ 35 million were distributed among the community through AirDrop.

The a16z stressed that they highly value the startup's chances in the first place due to the composition of the team, which includes former developers from Alphabet Inc and Uber Technologies Inc, as well as Ph.D. from Yale University.

Earlier, the Dfinity Foundation attracted $ 61 million from Andreessen Horowitz and Polychain Capital to create "cloud 3.0".

A16z and Polychain Capital jointly financed the start-up Oasis Labs, which eventually raised $ 45 million.

In addition, Polychain Capital and bitcoin-exchange Binance invested in the development of Terra stablcoin.

Neo Foundation to Withdraw $11M From Cold Wallet

These funds will be used to finance its operations in currrent reporting year and $190M are stiill in the vault
26 March 2020   891

On March 25, the Neo Foundation announced the withdrawal of 1,660,865 NEO ($ 11 million) from the cold wallet to finance its activities in the current reporting year. About $ 190 million are still in reserves.

According to rules established in the Neo White Paper, the NEO tokens maintained by the Neo Foundation are mainly used to continuously support Neo's technological development, ecosystem growth, community expansion and the normal operations of the foundation and related organizations. 

 

Neo Foundation

According to the publication, 1,660,865 NEOs were transferred “from a blocked account to a current account”. As the information on the blockchain shows, these funds were directed to an address containing 14.6 million NEO or about $ 100 million. The project does not disclose who controls this address and what fate awaits the released tokens.

White paper Neo suggests that project costs in any given year should not exceed 15 million tokens. In the near future, a financial report for 2019 will be published.

At the time of publication, NEO is the 23rd largest asset on the market with a capitalization of $ 479 million. The price of one NEO is $ 6.79.