Ethos to auction 20% of WHUF supply from $1M FDV

Ethos Network has scheduled a September 1 auction for 20% of the WHUF token supply, setting its opening fully diluted valuation at $1 million and its maximum valuation at $99 million. Summary 20% of the total WHUF supply will be offered through the September 1 auction. Bidding will begin at a $1 million FDV and cannot exceed a $99 million FDV. Buyers can qualify for protection covering 85% of their purchase price for 12 months. Contributor XP and qualified referrals will determine additional token rewards. Ethos Network said in an Aug. 20 X post that registration had opened for the WHUF auction, which includes added rewards tied to Contributor XP and participant referrals. “Hello, Whuffie,” the protocol wrote while introducing WHUF and listing the main auction terms. Under the announced limits, selling 20% of the supply at a $1 million FDV would value the auctioned portion at $200,000. The same allocation would be worth as much as $19.8 million at the $99 million cap, based on the relationship between the offered supply and the stated valuation range. Ethos has not disclosed how much capital it expects to raise because the final amount will depend on bids submitted during the aucti...