Space Protocol Plans $12.3 Million Refund After Oversubscribed $20 Million Token Sale

Space Protocol, a Solana-based project, will make up to $12.3 million available for refunds to participants in its public token sale after raising more than $20 million against a $2.5 million target. The team says the plan, which prioritizes smaller contributors and follows strong community pushback over the rapid oversubscription, is intended to improve fairness and rebuild confidence around the $SPACE token and the broader Solana ecosystem.