Gno.land raises $1.18M in GNOT token auction, targets September distribution
What's the deal? Gno.land, a Go-based smart contract platform developed by NewTendermint, has raised $1,183,664 through a public auction of its native token, GNOT. The sale closed at a final clearing price of $0.0645 per token, offering 38,760,000 GNOT — roughly 2.9% of total supply.
How it worked: The auction ran as a uniform-price format from July 20 to July 27, 2026. Participants bid at or above the $0.0645 starting price, with a $100 minimum and no cap, paying in USDC and USDT on Ethereum mainnet. All successful bidders paid the same clearing price.
Why now? The close follows Gno.land's latest testnet, Topaz, which builds on an earlier version that processed more than 1,000,000 transactions. The project is now working toward its mainnet launch and Token Generation Event.
What's the endgame? Gno.land is building an open-source platform that uses Gno, a deterministic variation of Go, and requires all code to be published on-chain with full source. It expects to distribute tokens to eligible participants in September 2026 as wrapped GNOT on the Base network.
The sale ran through a two-week identity verification period administered by Sonar, the compliance platform operated by Echo — the on-chain capital-raising platform Coinbase acquired in October 2025.
The signal: The raise reflects continued investor appetite for infrastructure-layer crypto projects led by established names — here, Cosmos and TendermintDealroom has a profile for this one. Try Dealroom → co-creator Jae Kwon. Structured, compliance-vetted token sales like this one point to a more institutionalised approach to public fundraising in the sector.
Read more: EIN Presswire
Image credit: Homedust
