Grape Network startup that broke Solana has raised $1.8 millio | DeFI News & Alerts

Grape Network startup that broke Solana has raised $1.8 million

Grape Network, the project whose IDO broke Solana last week, raised a total of $1.8 million from venture capitalists in the infamous GRAPE token sale. Key contributor Dean Pappas said he didn't expect the public sale of his project's tokens to briefly disrupt the entire ecosystem.

On Thursday, the community toolkit developer completed a $1.2 million round led by Multicoin Capital. The venture funding followed last week's $600,000 public sale, which was so overheated by bot buyers that it shut down Solana's host blockchain for nearly a full day.

"We didn't do it intentionally," said Grape Network founder and major contributor Dean Pappas. "But we were one of the reasons it went down."