The highly anticipated Web3 project Boundless is about to launch its first Decentralization Initial DEX Offering (IDO). It is reported that the IDO will officially start on August 25 at 12:00 UTC. The Fully Diluted Valuation (FDV) of this fundraising is $290 million, which is a decrease from the previous round of financing at $333 million, reflecting the project party's cautious attitude towards the current market environment.

The fundraising target is set at over $4 million, with a maximum of up to $8.41 million. Participants' investment amounts will fluctuate between $100,000 and $250,000, with the total amount of tokens issued during the IDO accounting for approximately 2.9% of the project's total supply. In terms of the token unlocking mechanism, 50% of the tokens will be immediately unlocked at the Token Generation Event (TGE), and the remaining 50% will be unlocked after 6 months.

This news was officially announced by the project party Kaito, sparking widespread discussion in the community. Many observers believe that the valuation of $290 million meets market expectations and reflects the project party's reasonable positioning of its own value.

However, the user level system established during the Signal event held by Boundless does not seem to have played a role in this IDO. Kaito stated that this new token issuance will use the built-in wallet of the Kaito platform, which has left some community members who participated in the Signal event confused about how to view their level status in the Boundless ecosystem.

Given the scale and influence of the Boundless project, it is widely expected in the industry that it will likely eventually land on the renowned cryptocurrency exchange Alpha. This potential listing prospect further enhances investors' expectations for the project.

As the IDO date approaches, the cryptocurrency market's attention will be focused on Boundless, and its fundraising process and subsequent developments will undoubtedly become hot topics in the Web3 space.