PANews reported on November 12th that Solomon Labs plans to conduct an initial coin offering (ICO) of its SOLO token through the MetaDAO platform. The sales window will be from 2:30 AM Beijing time on November 15th to 2:30 AM Beijing time on November 19th, lasting four days. The fundraising target is $2 million, the accepted asset is USDC, and the public offering supply is 10 million SOLO tokens, which will be distributed proportionally to participants.

The funds raised will be used to expand the liquidity of stablecoins USDv and sUSDv, support liquidity mining programs on decentralized exchanges, and enhance security and transparency. The team has not pre-allocated any tokens at launch; 12,900,000 SOLO tokens will be used as performance incentives for the team, to be gradually unlocked upon meeting price trigger conditions, and will be locked for at least 18 months.