Blockchain-based AI project VAIOT, has successfully conducted the first ever VFFA-regulated public token sale in Malta in cooperation with DAO Maker. The Refundable Strong Holder Offering (rSHO) of VAI Tokens that started on February 8th allocated 2.5 million tokens and raised a total 250.000 Euro.
This milestone marks the first time ever that a crypto company has conducted a public sale with the authorization of the Maltese government. The European island country received 340 preliminary crypto license applications in 2019 alone, but none were approved until the Malta Financial Service Authority (MFSA) finally authorized the first regulated public sale of the VAI tokens back in September 2020.
The public rSHO of VAI Tokens was conducted by DAO Maker. The Refundable Strong Holder Offering is a fundraising service for public rounds. It uses chain analysis, proprietary user activity data sets, and a set of assessment parameters to detect which allocation applicants are the best fit for a project. The rSHO funds will enhance the company’s solution development processes and sales of VAIOT’s first business line — the AI Sales Assistant.
The success of VAIOT’s token sale was marked by an oversale of 10.000 people who staked over $95M to get allocated in the rSHO. VAIOT’s first listing of the VAI token came soon after on Uniswap February 15th.
“We were thrilled to conduct our public sale of VAI Tokens with DAO Maker,” says Christoph Surgowt, CEO of VAIOT. “This is a great milestone for VAIOT and an opportunity to open up the project to the broader public. We are very happy that the sale was such a success with 10k people who oversubscribed and a total 95M staked to get in the rSHO”
“We are excited that VAIOT, the first project regulated in Malta, the country leading the EU regulation for cryptocurrencies used the rSHO model as a compliant token sale!” said Christoph Zaknun, CEO of DAO Maker. “VAIOT was the first regulated token sale to host a rSHO on the DAO Maker platform. This is a major milestone from a regulatory perspective”