GhostMarket’s initial DEX offering sold out in just over 48 hours on Flamingo Finance. Flamingo will be the first exchange to list GM beginning at 9:00 a.m. (UTC) on Tuesday, Jan. 18. FLM reward distributions for FLP-FLM-GM liquidity providers will begin 24 hours later.
With more funds staked in the Flamingo tiers than initially anticipated, the GM IDO was about 20 times over-subscribed. On the first day of the pre-sale, approximately 15.3 million FLM (roughly $5.2 million) were locked in tiers. To participate in the IDO on Flamingo, participants needed to first stake FLM to join a tier determining how much they can purchase.
The token sale consisted of pre- and public sale phases, with GM sold at US $0.13 per token. By the conclusion of the pre-sale, 98.56% of the two million GM tokens had been purchased. When the public sale went live, the remaining GM sold in under a minute.
Following the Flamingo listing, GhostMarket intends to list the GM token on other custodial exchanges and DEXs.
More information about the GhostMarket IDO can be found at the link below: https://medium.com/ghostmarket/ghostmarket-token-sale-sold-out-a5ad530f68e0