DarleyGo, an online myth-based horse racing game on Solana, raised approximately $1.6 million with liquidity assistance in their latest initial decentralized exchange offering (IDO) on Solanium following a previous successful seed sale led by Jump Capital.
DarleyGo IDO Successful Despite Turbulent Crypto Market Conditions
In a March 18, 2022, press release, the team said the DGE IDO was an immense success, pointing to the project's quality and support from the global community keen on participating and owning valuable mythical horse NFTs. The team now plans to list its token, DGE, on several cryptocurrency exchanges.
The DarleyGo development team had allocated two percent of the total supply, 20 million DGE, to whitelisted public investors. Each DGE was sold for 0.08 USDC with the hard cap set at $1.6 million. 40 percent of the acquired DGE was released during the token generation event (TGE) and the remainder vested linearly for three months.
Notably, the DarleyGo IDO weathered through the Solana storm as the project met its crowdfunding goals, receiving critical financial support from the global community. Even so, because of the technical hitch in Solana, the project had $4,497 in leftover allocations caused primarily by transactions and Know-your-Customer (KYC) failures.
The leftover allocation was sufficient evidence that the project was tracked by many investors and fans from across the globe. With the IDO's success, the DarleyGo team is now focused on subsequent phases of their roadmap, one of them being the listing of DGE on various exchanges, boosting its liquidity.
The integration of NFTs and launching from a decentralized, high-throughput blockchain like Solana gives DarleyGo developers an edge. DarleyGo utilizes Solana's metaplex standard for NFTs and SPL to realize in-game assets, which is critical in its play-to-earn model.
With users demanding smooth experiences and rewards for their participation, DarleyGo uses NFTs to increase revenue streams for participating players. The myth-based online horse racing game is also interactive, allowing players to train, breed, race, and collect NFT horses.
Each DarleyGo horse is, as expected, unique—possessing different levels of attributes--on age, stamina, gender, character, running style-- and capabilities.
The Dual-Token System for Decentralized Governance and Accelerate Growth of DarleyGo
DarleyGo uses a dual-token system to help develop the DarleyGo platform. DGE is primarily for governance and is currently available on Raydium for trading. Token holders can stake, vote, breed, and receive special rewards. On the other hand, the GXE token facilitates in-game transactions. The token will be used for in-game NFTs, breeding, and racing rewards.