Factor Raises $7.6 Million in Token Offering on Camelot, Starts Trading on Saturday

On-chain asset management platform Factor has raised $7.6 million in its recent token offering on Camelot. The sale, which began on February 20 and ended on Friday, attracted over 4,000 unique wallets. Users who participated in the sale will be able to claim their purchased $FCTR tokens on February 25.

Factor is an on-chain asset management platform that aggregates multiple DeFi assets and enables the creation of new instruments and strategies.

FactorDAO announced several changes before the sale ended, including increasing the liquidity owned by the protocol for the $USDC/$FCTR pair on Camelot and vesting ecosystem incentives for 12 months.

Token holders will be able to trade or stake their tokens starting on Saturday. If users decide to stake their tokens as liquidity, they'll receive veFCTR, which allows them to participate in Factor's governance process and earn 50% of the fees generated by the protocol. Factor's token $FCTR has a circulating market capitalization of $13.6 million at the time of writing, according to Factor's launchpad page on Camelot.