JuCoin platform token $JU IEO oversubscribed by 168 million USDT, with no refunds issued. The oversubscribed funds will be used for subscription at a price of 26.8 USDT.

According to Deep Tide TechFlow, the first Launchpad project on the trading platform JuCoin, as well as its platform token $JU IEO, has concluded, with a total fundraising amount reaching 168,967,843.8964668 USDT. Compared to the original target of 630 thousand $USDT, this exceeds the target by approximately 268 times, with a participation count of 24,354 users.

This significant oversubscription has sparked controversy among participating users. After the new token offering concluded, JuCoin did not refund the oversubscribed funds. Instead, it announced that a community vote would take place, allowing the oversubscribed funds to be purchased at a price of 26.8 $USDT, rather than the original IEO price of 0.1 USDT. Many participating users are demanding refunds, and JuCoin has yet to respond further.

According to the latest voting results on the official website, currently, the proportion of those agreeing to "subscribe to $JU at a price of 26.8 $USDT" has reached 59.51%, surpassing the majority, and the proposal has passed.