The post Solana-based leveraged prediction market Space answers public sale controversy appeared on BitcoinEthereumNews.com.

Space, a Solana-based leveraged prediction market platform, has moved to address community concerns following its public token sale, which attracted more than eight times its initial target. The platform published an explanation on Wednesday, January 21, 2026, after its sale received over $20 million in demand against a $2.5 million target raise figure, allocating 19.6% out of the 51% of its total token supply that was set for the community. The platform also stated that it has returned over $7.3 million after the final runway review. Space’s tokenomics structure allocates 51% of the total supply to the community, 14% to investors and advisors, and 15% to core contributors and liquidity and listings, respectively. 5% is set for marketing. The controversy has drawn comparisons to recent turmoil surrounding Trove Markets, another prediction market project that faced backlash over similar fundraising discrepancies. Is the Space prediction platform’s $2.5 million a soft cap or hard cap? Space maintains that the $2.5 million figure represented a “soft cap” rather than a hard cap. However, many members of the community claim that the said figure is a hard cap. In its defense, Space wrote, “This terminology is standard nomenclature among some launchpads, calling their soft cap a target. This structure works because it allows projects to scale responsibly based on real demand rather than being stuck undercapitalized.” The platform stated that the soft cap was a floor, calling it “the absolute minimum needed to ship safely.” The platform claims that accepting only the minimum would have funded merely a few months of operations. The sale cleared at $0.069 per token, representing a $69 million fully diluted valuation (FDV). To ensure fair distribution at scale, Space stated that it implemented protective measures, which saw large contributions trimmed heavily, while smaller participants received higher fill rates. The…

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Filed under: News - @ January 22, 2026 2:25 pm