In an unprecedented fashion, CakeTools has closed its Astronaut Initial DeX Offering (IDO) process as all released tokens sold out in TWO minutes. It makes it the fastest ever in the history of IDOs in the history of African Cryptocurrency projects. Initially projected to have three rounds, the IDO process lasted a record TWO minutes.
The CakeTools project has a record of 1,189,069 entries for its whitelist process, out of which only 288 were whitelisted. It means that over 1,000,000 cryptocurrency investors are waiting to get the token as it launches on PanCakeSwap by 7 PM (UTC), on November 17th, 2021. Before launch, CakeTools had raised $350,000, and the community growth has shown positive expectations in the long term.
Last week, Wakanda Inu, a sister community-based crypto project from Africa, went 40x in price, achieving a market cap of $40 million in 5 days. The success of Wakanda Inu and the high expectation from investors on the CakeTools projects has shown that the African market is ready for indigenous products from Africa, and there are projections that African projects will be among the top 500 in the cryptocurrency ecosystem by 2022.
As a result, the CakeTools telegram community increased from 3,000 to 17k+ as the Twitter following increased sporadically to 41.5k.
CakeTools is a BSC DeFi Charting tool used to analyze market movements. It is backed by institutional investors like Chris Ani, the Founder of CryptoLife Capital, a cryptocurrency asset portfolio investment and management platform, Pinnacle Venture Capital, and Buttons Lab.
“There is no doubt that we are creating history, CakeTools has just shown that Africa is ready to build the next billion-dollar economy. It is known globally that the African market is an interesting market with unique opportunities and potentials. At CryptoLifeCapital, we are happy to be leading this historic success,” – Chris Ani, Founder & CEO, CryptoLife.Capital
Speaking on the historic IDO, Founder and CEO, CakeTools Labs, Okwudili David Eze said; “We appreciate our entire community of investors, partners, advisors and believers. The success and milestone we have achieved thus far has been nothing less than a huge triumph. “
David went further saying; “The CakeTools team appreciates the Founder of CryptoLife Capital, Chris Ani for his efforts and time. The success today and what we will achieve moving on is all possible because we have worked together. We have made history as the first African based project to complete sales in 2 minutes. And we will continue to make history.”