CODI Finance closed its private sale on Nov. 14 and extended its IDO for two additional weeks.
CODI Poised to Grow After Rebranding Efforts
CODI Finance announced the launch of their Initial Exchange Offering (IEO) on Nov. 15 via the P2PB2B cryptocurrency exchange, as per the protocol’s official Twitter post.
The DeFi ecosystem also simultaneously announced that the private sale closed on Nov. 14. They have also extended their Initial DEX Offering (IDO) till Nov. 31, which was originally slated to end on Nov. 14. Additionally, on Oct. 27, the protocol announced their integration with Chainlink price feeds to secure the IDO pools, as per the official Medium blog.
“Astute investors have recognized Solana’s potential to disrupt the status quo of monopolistic and bureaucratic power structures in the crypto industry. Solana offers unparalleled security, lightning-fast blockchain speeds, and significantly lower transaction costs, ushering in a new DeFi era. Solana, on the other hand, has been growing steadily and consistently. This expansion is due to the company’s rapid innovation in the DeFi space. In addition, it has experienced a massive rise in user growth because it continues to implement evidence-based strategic measures that foster user and fan trust,” mentioned the official press release announcing the IDO extension on Nov. 14.
The CODI token has a total supply of 330 million tokens. 10% of the total supply, i.e., 33 million coins, are allocated to the IDO. In the IDO, CODI is sols fully unlocked at the rate of 5,000 CODI tokens for 1 SOL token. The protocol expects to distribute 30% of CODI’s supply, i.e., at least 99 million tokens, before the official exchange listing of the token.
What is CODI Finance
CODI is an entirely decentralized finance (DeFi) ecosystem that’s powered by the Solana blockchain network. The protocol will build a decentralized exchange (DEX) platform that will enable users to transfer funds between wallets, trade with digital assets, stake their assets, provide market liquidity and leverage the network’s capabilities completely. In addition, a decentralized lending and borrowing protocol is also on the cards soon.
Find more about CODI here
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Source : solana.news