Serum community foundation raises $100 million in token sale from Tiger Global and others (via Yogita_Khatri5)
Tiger Global, Commonwealth Asset Management, and other investors were offered several tokens at a discount, including SOL and SRM.The Incentive Ecosystem Foundation, a community-led foundation of Project Serum, has raised $75 million in a new funding round. Serum is a Solana-based decentralized exchange and liquidity infrastructure platform.
All these tokens are part of the Solana and Serum ecosystems. They were offered at a 15% discount to their market price, except for PYTH, which was provided at its latest seed round valuation, said JHL. Through this ecosystem fund, the foundation plans to support upcoming Serum projects across areas such as DeFi, NFT, and gaming. The foundation also plans to offer business development and marketing support to such projects.
This is not the first time the Incentive Ecosystem Foundation has raised funds, but it hasn't disclosed funding amounts of its previous rounds.
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