Technology

Formation FI makes DeFi history with a 200x oversubscribed SHO Fundraiser

Formation FI has made history in the decentralized finance sector by successfully raising $45 million with a record-breaking 6,020 Strong Holder Offering (SHO) registration on DAO MAKER’s DAO PAD on June 7, 2021.

FORMATION.FI is a new website that aims to provide more information to high-yield farmers.
The Strong Holder Offering of Formation FI, a decentralized finance (DeFi) platform aimed at transforming the world of yield farming by incorporating a risk parity approach that spreads risk across numerous uncorrelated assets inside the crypto space, has been completed successfully (SHO).

The organization claims that the record-breaking SHO event collected $45 million from 6,020 registrants, making it the largest SHO event in the DAO Maker PAD’s history (200X oversubscribed).

Participants in the SHO event gave their $DAO or $USDC tokens in exchange for $FORM, the native currency that powers the Formation FI Smart Yield Farming 2.0 ecosystem.

According to the company, the SHO was shortly followed by a strategic investment round, which enabled Formation Fi to receive $3.3 million from investors.

A Game-Shifter

Experts have hailed decentralized finance (DeFi) as the future of crypto, and Formation FI hopes to be a game-changer with its fail-proof risk parity system, which it claims was initially presented in the stock markets by billionaire hedge fund manager Ray Dalio.

“We would like to thank all participants for their active involvement with Formation Fi. We appreciate your effort and ongoing support for building together with our robust and fast-growing smart yield farming ecosystem. We would also like to thank our ecosystem partners and team for supporting the building of a flawless DeFi protocol that prioritizes the risk-reward relationship and brings value to all users,”

declared the team.

While there are many ways for DeFi projects to launch their products these days, Formation FI claims that DAO Maker is the best option because it provides a “secure fundraising platform that allows retail investors to act like venture capitalists while also enabling blockchain startups to jump-start their projects.”

Furthermore, Formation FI has said that their platform is chain agnostic, community-oriented, and, most importantly, engineered to last.

SHO is a relatively new kind of financing for blockchain projects for those who are unfamiliar. It allows DeFi platforms like Formation FI to generate money from the general population. A set of criteria is used to identify the best investors.

After completing Formation FI SHO, the team promises further information on the $FORM coin listing will be provided soon.

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