PoolTogether, a no-loss decentralized finance platform, recently reached 100% of its funding goal for legal defense through the sale of a multitude of NFTs. The project took around 10 days to succeed- where a sum of $1.4 million was guaranteed. This also symbolized the support other DeFi communities had put in place for the protocol- with some thinking this to be a direct attack on the protocol.
PoolTogether Manages $1.4m At The Fundraising Event
Currently, PoolTogether is selling three different tiers of NFTs which would be a part of its funding campaign dubbed ‘PoolyNFT’ in order to combat a class-action suit that definitely feels like it has no specific merit. The NFTs currently find themselves valued at a sum of 0.1, 1, and 75 ETH for one while varying in the number of tokens that were minted in total. The project is definitely going to be rolling out some holder utility for the NFTs that would move forward.
It was previously reported by Cointelegraph that the funding raised by PoolTogether reached a sum of 471 ETH the previous week. This could be made possible after immense support from several hotshot in the crypto industry that included Chris Dixon- the general partner of Andreessen Horowitz who purchased a NFT at the Pooly Judge tier for a sum of 75 ETH. Currently, the figures for funding stand at a little over $1.4 million. Interestingly, the company still seems to have quite a few days to go before all of its NFTs get sold- and by then it would have accrued a sum of $2 million.
The team from PoolyNFT tweeted that more than 4,200 unique wallets currently had the NFT in them. The support that came from the community was absolutely mind-boggling- and it definitely showed the unity of the community. Even Leighton Cusack, the co-founder of PoolTogether, claimed that he really didn’t have a lot to think about apart from being blown away by the support that the community had shown.