CoinVoice has learned that the public fundraising activity for Space, a Solana ecosystem leverage prediction market platform, has sparked serious controversy. The project previously set a fundraising target of $2.5 million, but the actual amount raised reached $20 million. In response to community doubts about oversubscription, the project team unilaterally redefined the rules, claiming that $2.5 million was only a "soft cap" rather than a "hard cap," and announced that only $7.3 million would be refunded, forcibly retaining most of the oversubscribed funds.
The team further explained that the original amount could only sustain a few months of operation and was insufficient to support multi-year infrastructure development for the leverage prediction market. Such behavior of arbitrarily changing the fundraising cap after completion and deviating from initial commitments has been widely criticized by the community as lacking a sense of contract and ignoring investors' rights.
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CoinVoice has learned that the public fundraising activity for Space, a Solana ecosystem leverage prediction market platform, has sparked serious controversy. The project previously set a fundraising target of $2.5 million, but the actual amount raised reached $20 million. In response to community doubts about oversubscription, the project team unilaterally redefined the rules, claiming that $2.5 million was only a "soft cap" rather than a "hard cap," and announced that only $7.3 million would be refunded, forcibly retaining most of the oversubscribed funds.
The team further explained that the original amount could only sustain a few months of operation and was insufficient to support multi-year infrastructure development for the leverage prediction market. Such behavior of arbitrarily changing the fundraising cap after completion and deviating from initial commitments has been widely criticized by the community as lacking a sense of contract and ignoring investors' rights.