XDEFI Wallet raises $19.5M in IDO on MISO

By: Daniela Kirova
Daniela Kirova
Daniela was born in Bulgaria, grew up in Chicago, and then moved to Michigan to attend the University of… read more.
on Nov 23, 2021
  • A liquidity pool will be hosted on Sushi with a $XDEFI/$WETH trading pair
  • XDEFI Wallet raised over 11 million USDC during Dutch auction
  • XDEFI token will help fund emerging DeFi and NFT projects and power the broader wallet ecosystem

XDEFI, the fastest wallet for DeFi and NFTs, closed IDO funding in the amount of $19.45 million across an auction and crowd sale hosted on Sushi’s MISO launchpad, Invezz learned from a press release.

A liquidity pool will be hosted on Sushi (SUSHI/USD) with a $XDEFI/$WETH trading pair and incentivized via the Sushi Onsen program, which aims to reduce slippage and bring new liquidity to Sushi.

XDEFI raised 8.2M USDC during crowd sale

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XDEFI Wallet raised 8,227,931 USDC during the crowd sale of 12,658,355 XDEFI tokens at $0.65 each. More than 10,000 people took part in this sale. Then, the leftover tokens were transferred to a Dutch auction and sold for $4 – $0.65 per token depending on bids. XDEFI raised over 11,221,801 USDC during the auction, in which 427 people took part.

XDEFI Wallet CEO Émile Dubié said:

We are extremely grateful to our community members for their support and faith in the project. We intend to use the IDO funds to develop a suite of products around the wallet, including a mobile app, web app and cross-chain API, as well as a multichain DEX aggregator within the wallet. We also plan to embark on a strong recruitment drive in order to continue to grow our XDEFI team by attracting some of the best available talents in the market.

XDEFI token to power wallet ecosystem

The ERC-20 XDEFI token, which was designed by Delphi Digital, will help fund emerging DeFi and NFT projects and power the broader XDEFI Wallet ecosystem. Holders will receive swap fee rebates, take part in governance, stake their tokens, and claim staking rewards. $1 million from the IDO will be used to finance development growth of xchain.js, an open source library.

Failsafe transactions  

XDEFI Wallet was created with speed in mind, achieved through features like the Blocknative-powered Ape Mode, which guarantees transactions get into the next block 99% of the time. It offers native integrations on Terra (LUNA/USD), THORChain (RUNE/USD), Ethereum (ETH/USD), and a few EVM networks.

It also provides automatic NFT detection, a Buy Crypto function, and a customizable drag-and-drop display grid.

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