The Standard Reserve, which describes itself as a "sovereign on-chain central bank," has completed the mint for its Genesis Charters. According to ChainCatcher, the sale raised a total of 583.6 ETH, or about $1.47 million. The whitelist mint price was set at 0.15 ETH, while most public auction fills landed between 1.23 ETH and 1.25 ETH. The team said all proceeds from the mint will go to initial liquidity and the protocol treasury, with no team revenue share. Market data from GMGN showed STANDARD briefly reaching a market capitalization of $18.38 million before moving to $17.06 million. The token also launched with a temporary anti-sniping tax during its first hour of trading, starting at 90% and decaying exponentially, with most of that drop occurring in the first five minutes. The collected fees are directed to the protocol, and regular trading fees are set to resume after the first hour.
The Standard Reserve, which calls itself a "sovereign on-chain central bank," has finished the mint for Genesis Charters, according to ChainCatcher.
The mint raised 583.6 ETH in total, worth about $1.47 million. The whitelist mint price was 0.15 ETH, while the vast majority of public auction transactions cleared between 1.23 ETH and 1.25 ETH.
The project said 100% of the mint proceeds will be allocated to initial liquidity and the protocol treasury, and the team will not take a share.
GMGN market data showed STANDARD briefly touching a market capitalization of $18.38 million. Its current market capitalization stands at $17.06 million.
STANDARD introduced a temporary anti-sniping tax during the token's first trading hour. The tax started at 90% and decayed exponentially, with most of the decline happening in the first five minutes. Those fees go to the protocol. After one hour, trading fees will return to the normal rate.
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