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XDEFI Wallet Looks to Raise $12M in Initial DEX Offering

The IDO will take place in early November on MISO, the platform built for offering new tokens on SushiSwap.

By Jamie Crawley
AccessTimeIconOct 26, 2021 at 2:00 p.m. UTC
Updated May 11, 2023 at 4:04 p.m. UTC
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Cross-chain wallet XDEFI is looking to raise $12 million by selling its new utility token, $XDEFI, on a decentralized exchange (DEX), a spokesperson told CoinDesk.

  • The token, which conforms to ERC-20, will be used to fund decentralized finance (DeFi) and non-fungible token (NFT) projects, XDEFI Wallet said Tuesday.
  • The sale, known as as an initial DEX offering (IDO), will take place in early November on MISO, the platform built for offering new tokens on the SushiSwap DeFi protocol.
  • XDEFI released its cross-chain wallet, which enables users to store, send and receive all their digital assets from a single place, earlier this month after raising $6 million in September. The wallet offers access to chains such as THORChain and Terra so users can move between protocols easily.
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    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley
    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.

    Follow @JamieCrawleyCD on Twitter

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