DeFi lending protocol Soul announces the launch of SO token public offering on May 16th

Odaily Planet Daily News: DeFi lending protocol Soul announced that it will launch the public offering of SO token on May 16th, aiming to promote DeFi's return to the original intention of fair distribution and broad participation. 25% of the total tokens will be distributed in this public round, and the valuation will be determined based on the funds raised in the public round. All tokens will be fully unlocked during the Token Generation Event (TGE). SO tokens are used for protocol governance, revenue enhancement, and value sharing. Holders can obtain additional revenue through staking and participate in revenue distribution and repurchase mechanisms. At present, Soul Testing Network has been launched. Previously, Soul had completed a private equity round of $4 million, with participation from XVVentures Fund, TPC Ventures, RV Inc, as well as angel investors from Coinbase, LayerZero, Flowdesk, and Pi Squared, to support early development of the agreement.