By
Bena Ilyas
April 29th, 2024
TeleportDAO aims to become a key player in the blockchain space by expanding to multiple chains and offering secure cross-chain interactions.
CoinList, a leading crypto platform for listing new digital asset offerings, has announced the upcoming launch of the TeleportDAO token (TST) sale, scheduled to begin on April 12. The sale will provide an opportunity for investors to participate in the innovative blockchain project, which aims to solve interoperability issues in the space.
The sale will commence today at 1:00 (Beijing time) and conclude on April 19 at 17:00 UTC.
📣Special Announcement!
We're excited to unveil the $TST Token Sale on @CoinList!
➡️Join us on our thrilling Bitcoin interoperability journey: https://t.co/DSIxVHXwP6
TeleportDAO is dedicated to developing the most secure Bitcoin interoperability protocol, connecting Bitcoin… pic.twitter.com/fMQCik7LkG
— TeleportDAO (@Teleport_DAO) April 11, 2024
Key Details of Token Sales
The blockchain project, founded in February 2022, allocated 70 million TST tokens, representing 7% of its token supply for the sale event. Each TST token will be priced at $0.075, with a minimum purchase amount of $100 and a maximum of $2000, payable in stablecoins such as USDT and USDC.
Upon purchase, 20% of the tokens will be unlocked after 75 days, with the remaining 80% unlocked linearly over six months. The token is expected to be available for trading on exchanges on or around July 17, 2024, according to the announcement.
The sale is open to everyone. However, due to regulatory hurdles, certain jurisdictions, such as the United States, Canada, China, and the Republic of Korea, have been banned from participating in the sales.
The funds raised from the token sale will be used to further develop the TeleportDAO platform and expand its business offerings. The project’s long-term goal is to become a key player in the blockchain space by expanding to multiple chains and offering secure cross-chain interactions.
TeleportDAO to Solve Blockchain Interoperability Problems
TeleportDAO aims to become a key player in the blockchain space by expanding to multiple chains and offering secure cross-chain interactions.
The project addresses interoperability issues by connecting various blockchains, enabling developers to build cross-chain applications using its universal bridge protocol.
The project was established by Teleport Technologies, a Vancouver-based software development firm. Through its infrastructure, developers can build cross-chain applications that allow for the seamless transfer of data and assets, such as virtual assets, non-fungible tokens (NFTs), and other digital collectibles between different blockchains.
TeleportDAO Secures $2.5 Million in Funding
In March 2023, TeleportDAO raised $2.5 million in a seed funding round led by AppWorks and DefinanceX. Other participants in the funding round included Quantstamp, Coinlist, Candaq Fintech Group, SNZ Holding Limited, and Gate Labs.
Teleport Technologies disclosed at the time that it plans to use part of the funds for product development and expand its workforce.