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Token Offering of Asset Management Platform Factor Raises Roughly $7.6M

Factor, an on-chain asset management platform based on Arbitrum, raised roughly $7.6 million from over 4,000 unique wallets in its token offering that started Feb. 20 and ended Friday.

Now that the public sale has ended, users will be able to claim their purchased FCTR tokens Saturday, Feb. 25, at 18:00 UTC, which is the same time the token starts trading on decentralized exchange Camelot.

Factor, which doesn’t require users to learn coding to create customized strategies for asset management, aims to provide middleware infrastructure for the decentralized finance (DeFi) space by aggregating various markets on its platform.

Several hours before the four-day public sale finished, FactorDAO announced on Twitter several changes designed to decrease the initial circulating supply to 18 million tokens, or 18% of the total supply, down from 32.5 million tokens originally.

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