StarFun on Solana Disrupts Fundraising: Crypto-Powered Capital for Ambitious Projects
Move over traditional VCs—Solana's StarFun is flipping the script on startup financing. The platform lets projects tap into crypto's liquidity tsunami, bypassing gatekeepers and banking red tape.
How it works: Projects launch tokenized campaigns, traders ape in with SOL or stablecoins, and boom—instant decentralized funding. No suits, no pitch decks, just code and community.
The catch? Like every 'revolutionary' crypto model, it's either genius or a greased slide to zero. But hey, at least the rug pulls come with memes now.
Star plans to commit some of its trading volume revenue to buying back and burning STAR. A quarter of the token’s allocation is being reserved for the team, and another quarter is being reserved for the Star ecosystem.
Like pumpfun, Star-launched tokens will have to graduate in order to have access to bigger liquidity pools. Projects can also raise USDC on Star, too.
While asking around at Permissionless Tuesday morning, Star drew some immediate comparisons to Echo, another next-gen ICO platform for investing in crypto startups. There’s also Legion.
Star reminds me a bit of Stars Arena (RIP) and Friendtech (also RIP), which were mainly about “investing” in people and trading “shares” of their influence via crypto.
Star has two affiliated Wyoming-based LLCs, with one being OpCo LLC and the other being TokenCo LLC, a DAO that oversees the token.
STAR appears to be available to anyone in the US regardless of investor status, as myself and another US-based Blockworks teammate were able to connect our wallets to the site.
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