MOCA Token Launch Sees Record Funds and Participation

The MOCA Foundation, a community-managed cultural foundation, recently wrapped up its MOCA Token Launch, a collaborative effort with Mocaverse and CoinList through their new co-branded platform, MocaList. This launch successfully accumulated pre-deposited funds totaling $29.3 million. Such a sum signifies a twelvefold oversubscription, determined by comparing the number of available Lots to the total excluding guaranteed allocations.

This offering, which began at 12 a.m. UTC on April 25, 2024, rapidly achieved its $5 million target within just six hours, making it the quickest to reach oversubscription on CoinList for the year. By the conclusion of the sale on May 2, it had attracted nearly 17,000 verified users from 123 countries, establishing itself as the top-funded sale on CoinList for 2024 and highlighting substantial engagement from the Mocaverse community.

Eligibility for the offering was controlled through Moca ID, with access selectively granted to members of the Mocaverse Partners Network and others identified by CoinList through various promotional efforts.

The launch distributed a total of 126,984,127 MOCA Tokens, which represent 1.5% of the total token supply, at a price of $0.03938 per token. The fully diluted value of the total MOCA Token supply reached approximately $350 million.

Those participating in the MOCA Token Launch benefited from particularly favorable vesting conditions, including 5% of their tokens being unlocked at the Token Generation Event (TGE), followed by a three-month cliff period and a 52-week linear release, all managed through the CoinList platform.

The final allocations for the MOCA Token Launch are scheduled to be announced on May 7, 2024, with the actual distribution of tokens planned for around May 24, 2024.