JuCoin platform token $JU IEO oversubscribed by 168 million USDT, with refunds not issued and "temporary price increase" causing community controversy

2025-01-24 21:11:32

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ChainCatcher news, the first Launchpad project of the trading platform JuCoin, as well as its platform token $JU IEO, has ended, with a total fundraising amount reaching 168,967,843.8964668 USDT. Compared to the original target of 630,000 USDT, this is an oversubscription of approximately 268 times, with a total of 24,354 participants.

This significant oversubscription has sparked controversy among participating users. After the new token offering ended, JuCoin did not refund the oversubscribed funds but instead announced that a community vote would be held. The oversubscribed funds will be subscribed at a price of 26.8 USDT, rather than the original IEO price of 0.1 USDT. Many participating users are demanding refunds, and JuCoin has not yet provided further responses.

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