Financing exceeds expectations but sparks controversy? The token allocation model of this project faces community criticism

【Crypto World】An emerging cryptocurrency project’s public token sale has achieved impressive results—raising over $20 million, far surpassing the soft cap target of $2.5 million. The token is priced at $0.069, valuing the project at nearly $69 million.

In terms of token distribution, the team received 19.6% of the total supply. Interestingly, the project team was not greedy and returned the excess funds—$7.3 million—back to investors, with plans to use the funds for liquidity building and technical development.

However, community voices are beginning to show disagreement. On Twitter and forums, some compare this fundraising approach to the tactics used by previously controversial projects, especially referencing the Trove Markets incident. The main concerns focus on several areas: whether the founder’s background is credible, whether marketing claims are exaggerated, and the fairness of the token allocation structure. Such doubts are common in Web3 fundraising and also reflect investors’ ongoing attention to project transparency.