The on-chain asset management platform Factor based on Arbitrum raised approximately $7.6 million through public fundraising

2023-02-25 08:13:49

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ChainCatcher news, the on-chain asset management platform Factor based on Arbitrum raised approximately $7.6 million from over 4,000 wallets in its token issuance that ended on Friday, February 20. The public sale has concluded, and users will be able to claim their purchased FCTR tokens at 18:00 UTC on February 25 (Saturday). Meanwhile, the token will begin trading on the decentralized exchange Camelot.

Factor states that its product does not require users to learn coding to create customized asset management strategies, aiming to provide middleware infrastructure for the decentralized finance (DeFi) space by aggregating various markets on its platform. Holders of FCTR will be able to trade or stake their tokens. According to Factor's documentation, if users decide to use their tokens as liquidity collateral, they will receive veFCTR, which enables them to participate in Factor's governance process and earn 50% of the fees generated by the protocol.

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Arbitrum Factor

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