September 15, 2020 SKALE raises $5M on Consensys’ Activate platform.

Ethereum scaling project SKALE has raised $5M on Consensys’ ‘anti-speculation’ platform, Activate. The project initially generated interest from investors with a total capital pool of $57M but was unable to accept more than $5M due to regulatory concerns. The project is the first to host a token sale event on Activate. The fundraising event was originally supposed to be conducted as a Dutch auction, however, front-running software overwhelmed the system and the event was restructured as a sale.