Sui and Aptos' s DEX Cetus Reached its IDO Target in 30 Seconds

Cetus DEX's initial decentralized exchange offering (IDO) has been oversubscribed, with more than 6 million Sui ($SUI) tokens committed, worth approximately $6.85 million.

The IDO reached its hard cap target of 800,000 $SUI in less than 30 seconds after going live on May 8. Cetus is a decentralized exchange and liquidity protocol built on Sui and Aptos. Despite reaching its initial target, the IDO will continue until May 10, with 20 million Cetus tokens ($CETUS) available out of a total supply of 1 billion CETUS. The public sale rules and token metrics, along with the price of $SUI, place Cetus DEX at an initial valuation of $45.8 million.