Space responded to the community regarding issues such as fundraising limits and refund transparency, deciding to refund the excess funds of 7.3 million dollars

Leverage prediction market Space has released the latest official statement regarding the recent public sale's token distribution, fundraising scale, and refund issues.

This round of public sale attracted over $20 million, ultimately distributing 19.6% of the tokens from the community pool, which accounts for 51% of the token economy, corresponding to an FDV of approximately $69 million. To ensure fairness in distribution, the project has decided to refund over $7.3 million of excess funds and explained that some refund address changes were made by participants for security reasons. The raised funds will primarily be used for leverage pools, liquidity construction upon launch, security audits, team expansion, and listing on CEX.

Regarding the fundraising amount controversy, Space clarified that the previously mentioned $2.5 million was only a soft cap, not a hard cap, and that expanding the fundraising scale aims to support liquidity in the leverage market and years of R&D to ensure the project's long-term competitiveness. Previously, Space faced community skepticism due to issues related to the fundraising scale and the team's historical background. Several community members indicated that the team's predecessor appeared to be the gaming project UFO Gaming, whose token price has plummeted by about 99% from its historical high.

The community accused Space of transitioning to a prediction market after the old project showed no signs of improvement, and to date, no public or internal test version has been released, while prioritizing the preparation of Hyperliquid perpetual contract code, raising suspicions of cashing out. Additionally, the community expressed dissatisfaction with the project's decision to raise the public fundraising amount without prior announcement after oversubscription, pointing out that many of the large refund addresses are mostly new addresses that have been changed and lack historical transaction records.