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The Foundation Still Spends Hundreds of Millions of Dollars on Techcoin Tokens.
This 0G labs has just raised another $40M and received $250M worth of token purchase commitments from Investors, including Hack VC, Delphi Digital, OKX Ventures, Samsung Next, Bankless Ventures, Animoca Brands, and co-founder Yat Siu, Polygon and co-founder Sandeep Nailwal, Stanford Blockchain Fund, Abstract VC, Alchemy, Blockdaemon, Foresight Ventures and many others.
Regarding the $250M token purchase commitment, or “liquidity cap,” Heinrich said this would allow the 0G Foundation to access funds from the balance sheet of a long-term, buy-only investor who only holds liquid 0G tokens (i.e. tokens available on exchanges) at a predetermined discount to the token’s market price. “So this is very similar to an over-the-counter transaction, but different from a standard venture capital investment, where you get the entire amount upfront from an investor in an illiquid (not traded on the market) token,” said Heinrich. 0 reply
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