How MoonDAO Raised $8.3 million on JuiceBoxby@penworth
1,595 reads
1,595 reads

How MoonDAO Raised $8.3 million on JuiceBox

by Olayimika Oyebanji June 15th, 2022
Read on Terminal Reader
Read this story w/o Javascript
tldt arrow

Too Long; Didn't Read

Olayimika wrote an article on NEKTR pro-medical cannabis NFT which was recently published on Yahoo Finance. In December 2021, he was gifted an elite Solpunk NFT by the SolPunks council for publishing a series of articles tracing the origin of SolPunk and establishing the thesis that the NFT collection was the precursor to the Solana NFT revolution on the. Solana is waiting in the wings to take the. place in the crypto world. My aim is to create a clear picture of how Solana plotted its path to success by leveraging Solanart, its first NFT marketplace.

Companies Mentioned

Mention Thumbnail
Mention Thumbnail

Coin Mentioned

Mention Thumbnail
featured image - How MoonDAO Raised $8.3 million on JuiceBox
Olayimika Oyebanji  HackerNoon profile picture

When the name of MoonDAO’s governance token was to be decided by its members, the choice was clearly between $Mooney and $Cheese. A poll was held to decide which one of the two names would be on its smart contract. At the poll, a total of 67 votes were cast in favor of $Mooney and it, although a small number, represented an overwhelming majority at the time when MoonDAO had a little above 1000 members on Discord.

$Mooney was deployed on the 17th of December, 2021, marking the beginning of a major funding round that would later rank MoonDAO as the fourth-highest funded DAO on  JuiceBox,a crowdfunding Dapp.

Initially, the deployment of $Mooney was aimed at raising $450,000 for a space ticket but it ended up pulling in $8.3 million by early February. To many , it was nothing short of a surprise for a DAO with no media publicity to be three spots away from ConstitutionDAO, which, at the time, was the most funded DAO on JuiceBox and the most popular DAO of the year.

MoonDAO’s Funding Timeline

The First Two Days

MoonDAO raised $115,133(29.50 ETH) in two days in December of 2021.

The First Four Days

On the fourth day a total of 70 donors brought the figure to $135,000 which was then the equivalent of 33.58 ETH.

JuiceBox Top Ten DAOs

On December 22nd 2021, MoonDAO ranked as the 10th most funded DAO on JuiceBox with a total of 34 ETH. It was nine spots away from ConstitutionDAO which ranked as the highest-funded DAO with a total of 11,612 ETH($47 million). This was the fifth day of the fundraising.

                                                                         **(JuiceBox Top Ten)**

The First Six Days

The sum of $145,000 (39 ETH)was raised to the utmost surprise of everyone in six days, thereby increasing MoonDAO’s chances of achieving higher milestones in crypto funding.

MoonDAO’s Fifth Position on JuiceBox.

In 22 days, MoonDAO had not only become the 5th highest funded DAO Juicebox but had also surpassed its initial funding target as well. With $638,000 in its treasury, it was inching closer to $1 million in crypto funding.

The Last  Four Days.

The event of  January 12 to 16 will be remembered as a watershed in the history of MoonDAO’s funding because its treasury pulled in more than $1 million in ETH until it reached a whopping $8.3 million(Over two thousand Ether)on the last day. This was the ‘the last four days” of the fundraising which earned MoonDOA the fourth place on JuiceBox.

**(MoonDAO crossing the 1,000 ETH threshold)**

January 12, 2022.

MoonDAO was four days to the end of its major fundraising and at this stage it had far exceeded its initial funding target. On the 12 of January, 2022, it had raised a total of $858,000 (265.33 ETH) and was cruising toward $1 million in funding.

$1.4 million and counting..

January 14th and the whales

The Whales were having a field day as MoonDAO’s treasury was zooming past 1000 ETH.

MoonDAO at $3.8 million(1179.89 ETH) and still counting...

January 15th

and the last 24 hours

With only twenty-four hours left to the end of the fundraising, MoonDAO’s funding goal was increased from $5,000,000  to $8,888,888--which was dubbed a lucky number. In the final hour, it triumphantly reached $8.3 million and ended as a massive success.