Formation Fi Breaks All-Time SHO Record on DAO Maker

Formation Fi just announced that its officially broken the all-time Strong Holder Offering SHO registration record on DAO Maker’s DAO PAD with a monumental 6,020 SHO registrations. This is the highest number of registrations even on DAO PAD for SHO events.

SHOs are a relatively new fundraising method used in public rounds. As part of these rounds, applicants are selected based on a series of parameters to find the ideal type of holds.

The company held its SHO event on Tuesday, June 7. As per reports, the DeFi community showed immense interest in the project reflecting a great start to DeFi Summer 2.0. The project’s native token was also made available to the DAO community for the first time ever. $FORM governs the platform, especially revolving around Smart Yield Farming 2.0.

Some of the event’s other key highlights included 14.4 million DAO power committed amounting to $45 million ($DAO + $USDC). Along with that the platform was 200 times oversubscribed from the public sale amount.

As per Formation Fi, it picked DAO Maker as it provides a secure fundraising platform. It enables retail investors to act like venture capitalists while helping blockchain startups jump-start their projects.

With this new update, the company aims to promote the smart yield farming trend.

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