Morningstar Ventures: Not the lead investor of Space, the project has committed to refund at least 50% of the public sale funds

Odaily News Morningstar Ventures posted on X regarding the prediction market project Space, in which it has invested, stating that the Space team must prioritize the interests of the community and public sale participants. In a recent X Space session, the team publicly committed to opening refunds via a claim page on January 27th, announcing they would refund at least 50% of the raised funds, with all public sale participants eligible to apply for a partial refund. Morningstar Ventures demands that this process be executed transparently and without delay, and requires the team to disclose information such as fund usage, current balance, and the subsequent roadmap.

Morningstar Ventures reiterated that it is not the lead investor of Space, did not participate in the structuring, decision-making, or modifications of the public sale, and only engaged in high-level communication as a small investor based on public information. Morningstar Ventures is currently in discussions with the Space team and other investors, urging the team to refund as much as possible based on available funds and their public commitment. Furthermore, the Space team has promised to release the first public version of the product next week for review by the community and investors.

Previously, the prediction market project Space's public sale sparked controversy, as the team retained over ten million dollars in oversubscribed funds, exceeding the original $2.5 million fundraising target, citing a "soft cap" as the reason.