The Standard Reserve Raises 583.6 ETH in Genesis Charters Mint

The Standard Reserve said it has completed its Genesis Charters mint and raised 583.6 ETH. According to ChainCatcher, the mint price for whitelist participants was 0.15 ETH, while most public auction sales cleared between 1.23 ETH and 1.25 ETH. The project said all proceeds will go entirely to initial liquidity and the protocol treasury, with no allocation to the team. STANDARD briefly reached a market capitalization of $18.38 million and was at $17.06 million at the time of reporting. The token used a temporary anti-sniping tax during its first hour of trading, starting at 90% and decaying exponentially, with most of the reduction occurring in the first five minutes before normal trading fees resumed after one hour.