River Pts Public Sale Raises $2.5 Million, Achieving Milestone in Just 2.5 Hours

River has demonstrated exceptional demand for its ecosystem with the recent sell-out of its River Pts public sale. Launched on October 29 at 11:00 PM KST, the event concluded in just 2 hours and 30 minutes, achieving its full allotment of tokens and raising $2.5 million. Through its official X (formerly Twitter) account, River confirmed the rapid sell-out of all 50 million tokens, emphasizing the flourishing interest from investors and supporters alike.

Record-Breaking Fundraising: $2.5 Million Secured in 2.5 Hours

The public sale was initially scheduled for 48 hours but concluded far earlier due to overwhelming demand. The token auction raised a total pool of 2,908 Binance Coin (BNB), translating to around $3.2 million (KRW 4.56 billion). However, the final confirmed fundraising amount stood at $2.5 million (KRW 3.56 billion), corresponding to 2,235 BNB. The high participation rate and rapid liquidation underline the significance of River’s growing market appeal.

Dutch Auction Method Yields Fair and Competitive Pricing

Utilizing a Dutch Auction mechanism, River ensured fair and transparent token pricing for participants. The auction began at 0.0001 BNB per River Pts token, with prices gradually adjusting downward until reaching 0.000001 BNB. However, intense buying activity drove the sale to a swift conclusion. The final clearing price—0.0000447 BNB per token—equates to approximately $0.048.

In line with how Dutch Auctions operate, all participants purchased River Pts at the lowest final clearing price of 0.0000447 BNB, irrespective of their original bid. Those who committed BNB at higher bid amounts will receive refunds for the differences. River has confirmed that refund claims will be available starting October 31 at 11:00 PM KST.

Strategic Use of Funds to Strengthen the River Ecosystem

The success of the public sale marks a pivotal step in River’s roadmap for growth and ecosystem development. Of the company’s reserved pool of 1 billion tokens, 50 million were allocated for this sale. River disclosed that proceeds from the sale will fund several focused initiatives aimed at enhancing its ecosystem and ensuring long-term sustainability. Key areas of fund utilization include:

• Liquidity Support: Strengthening ecosystem liquidity and fostering broader platform integrations.
• Token Buyback: Allocating funds to buy back $RIVER tokens, improving stability.
• Advancing River DAO: Providing resources to establish River DAO, a decentralized governance framework to empower community involvement.

River has also introduced an innovative referral bonus program through its River4FUN S2 tier, which incentivizes users with bonus tokens. These bonus Pts will be reflected in the S3 leaderboard.

Community-Driven Pricing Takes Center Stage

The River Pts sale represents a novel showcase of community participation in token pricing, echoing River’s ongoing push to redefine how blockchain ecosystems engage users. The utilization of the Dutch Auction model was not only a practical way to determine token value collectively but also highlighted River’s commitment to fairness and transparency.

This public sale builds on River’s earlier experiment with "Dynamic Airdrop Conversion," signaling a continued interest in exploring innovative mechanisms to engage and empower its community. By allowing market demand to dictate pricing and allocation, River has successfully reinforced trust and interest among investors.

Growing Confidence in River’s Vision and Future

The rapid sell-out of the River Pts public sale is a promising indicator of the bullish sentiment investors feel toward River’s trajectory. With a strategic and transparent allocation of proceeds aimed at ecosystem development, liquidity enhancement, and decentralized governance, River has positioned itself as a forward-thinking innovator in blockchain technology.

With investor enthusiasm and project confidence on the rise, River’s latest milestone signals the growing potential of its vision—building a sustainable and vibrant ecosystem that delivers value, transparency, and community-driven growth.