Zeus Network launched its token sale on the Jupiter platform of Solana’s new coin issuance platform yesterday, selling 50 million $ZEUS tokens for a total of $27.5 million within 20 minutes. Subsequently, $ZEUS was listed on the OKX exchange and surged to $0.988, with a 138% increase in value within 24 hours, surpassing a market cap of $100 million.
Jupiter, a one-stop DeFi service platform in the Solana ecosystem, initiated the sale of $ZEUS tokens through its new coin issuance platform LFG Launchpad at 9:00 PM yesterday. The initial price of $ZEUS was set at 0.3 USDC, with an upper price limit of 0.85 USDC. A total of 50 million tokens were sold, accounting for 5% of the total supply.
Additionally, 3% of the total supply of $ZEUS will be distributed through airdrops to Dappie Gang holders, Zealy supporters, and Jupiter voters, each group receiving 1%.
The sale of 50 million $ZEUS tokens was met with enthusiastic market demand, selling out completely for $27.5 million in just 20 minutes, marking a remarkable success.
$ZEUS listed on OKX, reaching nearly $1
At the same time, OKX exchange announced the listing of $ZEUS, which surged to a high of $0.988 at the opening, more than tripling the initial price. As of the time of writing, it is trading at $0.711, with a 138% increase in value within 24 hours and a market cap exceeding $100 million.
Zeus Network: What is it?
Zeus Network is a cross-chain protocol between Bitcoin and Solana, developed by a team from Taiwan. Its mission is to bring BTC into the Solana world, combining Solana’s speed with the security of Bitcoin. Founder Qiu Jun wrote on Facebook that the project has received support from notable angel investors, including Anatoly Yakovenko, co-founder of Solana, Andrew Kang, founder of Mechanism Capital, and Muneeb Ali, co-founder of Stacks (the current largest L2 of Bitcoin), adding confidence and anticipation to its mission.
Built on the Zeus Network protocol, the project’s first product is Apollo, which is primarily responsible for bringing BTC into Solana. By allowing users to directly collateralize BTC on the Bitcoin chain and issue 1:1 anchored zBTC on Solana, BTC liquidity can be brought into Solana. Subsequently, zBTC can participate in DeFi protocols on Solana, such as Solend, marginfi, Kamino Finance, and other lending platforms, making BTC an income-generating asset. Apollo is expected to launch in Q2 of this year.
Yesterday, the project received another positive news, securing $8 million in funding at a valuation of $100 million. Mechanism Capital led the investment, with participation from OKX Venture, Anagram, Portal Venture, and others.
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