The token presale for Solstice ($SLX) on the Legion platform is set to conclude tomorrow at 9 PM. The presale offers 5% of the total tokens, aiming to raise a hard cap of $6.5 million, equating to a fully diluted valuation (FDV) of $130 million. Tokens will be unlocked 50% at the Token Generation Event (TGE), with the remaining 50% unlocking linearly over three months.
Solstice, known as the largest native stablecoin on Solana with a total value locked (TVL) of $328 million, ranks 12th among Solana protocols. The FDV of projects ranked above Solstice exceeds $130 million, suggesting a strong fundamental backing for the valuation.
The presale has sparked discussions about Legion's allocation method, which uses a scoring system rather than a first-come, first-served approach. This system aims to provide fairer access to quality projects for individual investors based on their knowledge and contributions, while helping projects build a committed community. Legion has received over 600 applications for the presale.
Solstice Token Presale on Legion Platform Nears Conclusion
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