Original Title: "Ranger Public Offering Plays New Tricks, Is the Grassroots Team Trustworthy?"
Original Author: 1912212.eth, Foresight News
On January 6, the public offering (ICO) of Ranger Finance, a DEX aggregator on the Solana chain, officially launched. This public offering is conducted through the MetaDAO platform, raising funds for Ranger's token RNGR, aiming to expand team capabilities and accelerate construction speed.
Currently, the daily derivatives trading volume on Solana, Arbitrum, and Hyperliquid is approximately $50 billion. However, most trading platforms still lock each order in a single trading venue, leading to fragmented liquidity, decreased execution quality, and ultimately a worse experience for traders. Ranger's core smart order routing system scans integrated trading venues in real-time, assesses liquidity depth, intelligently splits large orders, and executes trades at optimal prices.
Ranger Finance also offers an intuitive interface for managing diversified trading positions, with all operations completed on a single platform. The cross-margin support system (coming soon) allows multiple assets in a single wallet to be used as collateral, providing greater flexibility and capital efficiency.
Minimum Target of $6 Million for Public Offering, Team Sets Performance-Based Unlocking
The public offering lasts until January 10, with an official minimum fundraising amount of $6 million and a monthly spending cap of $250,000 (this amount can be freely allocated by the project's entrepreneurs each month without needing to submit proposals to the DAO. The DAO has the right to adjust this amount in the future). Ranger point holders have priority in committing funds to participate in the ICO. This priority is distributed according to the proportion of all point holders, with the remaining portion allocated proportionally to non-point committers.
If the fundraising exceeds the minimum target ($6 million), Ranger will initiate a buyback plan within 90 days, repurchasing tokens at the ICO price and the price difference after listing. The repurchased tokens will be destroyed.
Ranger's total token supply is 25,625,000, with a total of 10 million tokens in the ICO token pool. Existing investors are allocated a total of 4,356,250 tokens (with a 24-month linear vesting).
It is worth mentioning that the project has specifically set up performance rewards. Team performance reward pool: 7,600,000 tokens (with an 18-month lock-up period, then unlocked based on price, using a 3-month TWAP as a benchmark, unlocking at 2x, 4x, 8x, 16x, and 32x the ICO price).
Ambassadors and ecosystem partners: 768,750 tokens (25% immediately unlocked, with the remaining 25% vesting linearly over 6 months).
The remaining supply is used to provide liquidity, with 20% of the raised funds and 2 million tokens deposited into FutarchyAMM, and 900,000 tokens deposited unilaterally into Meteora's liquidity pool.
Previously Funded at a $30 Million Valuation
In December 2024, during a turbulent phase in the crypto market, Ranger completed a $1.9 million funding round led by RockawayX, with participation from Asymmetric, Big Brain Holdings, RISE Capital, and Anagram.
This year, Ranger not only launched tokenized stocks based on xStocks but also acquired the strategy protocol Voltr in November.
The Ranger team has limited public information; its co-founder Fathurrahman Faizal graduated from Singapore Management University and previously served as COO at SolanaFM. Another co-founder, Barrett Williams, who is also a co-founder of mtnCapital, has invested in on-chain order book trading protocol BULK and MetaDAO.
The team allocation accounts for 29.6% of the total supply, unlocking only upon reaching ICO price milestones (such as 2x, 4x, 8x, 16x, 32x FDV). This incentive mechanism aligns with investor interests and is one of the few highlights. The team emphasizes "no pre-mining" and transparent governance, but lacks specific relevant links for verification, which may raise trust issues. The project claims to be built on TechFlow but has not disclosed the core developers' experience.
Overall, the team's anonymity aligns with DeFi culture, but for a project seeking millions in public funding, this could be a potential risk point.
As of now, the official website shows that its fundraising has reached $2.9 million, with nearly 1,800 investors participating. Polymarket data indicates an 85% probability that the public offering subscription amount will exceed $30 million.
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