Solana-Based Payment Platform Zebec Generates $28 Million in Token Sales

UTC by Ibukun Ogundare · 3 min read
Solana-Based Payment Platform Zebec Generates $28 Million in Token Sales
Photo: Depositphotos

Shortly after the sales, Zebec launched the token on different exchanges, making it accessible to buyers.

Zebec recently concluded its token sales that generated $28 million from private and public investors. Zebec is a DeFi technology that ensures timely, uninterrupted payment processes and streams in Solana. The Zebec Protocol had Zebec Payroll as its first application. The payroll is a tax-compliant on-chain processing system that allows workers to be paid with different stable coins and digital currencies without limitations. It also renders crypto-related and financial services, including yield farming and automated dollar-cost averaging.

Private Investors Contribute to Zebec Token Sales

Zebec aimed to launch its ZBC token through the funds secured from both the private and public token sales. Zebec desires to transform employee payment processes, subscription management, and token vesting. The Zebec token sales yielded $21 million from private sales and $7 million from public sales, representing 75% and 25% of the total sales income. The private investors included Solana Ventures, Coinbase (NASDAQ: COIN), Lightspeed Venture Partners, Circle, and Alameda Research. Zenec, in partnership with Republic (NYSE: RSG), offered the token to private and public investors at the same price of 0.021c per token. Zebec founder Sam Thapaliya believes that public sales should offer the community the same opportunity private sales do. Explaining the equal pricing, he said:

“A public sale is not a capital-generating event, sales should not be a way for private investors to have these unrealized gains. Rather, it should be more of a community-generating event.”

He further mentioned that:

“Crypto is all about being able to give access to the public, the same access that private investors are able to get.”

Shortly after the sales, Zebec launched the token on different exchanges, making it accessible to buyers. Zebec intends to initiate staking benefits for owners and incentives for developers building on the platform. A Solana-based debit card will allow ZBC holders to list their token if they want to stake it. With the invention of the ZBC token, Zebec hopes to be autonomous, although the ZBC will be on several crypto exchanges. It will serve as a governing currency for the Zebec decentralized autonomous organization. It also means that the ZBC owners can participate in voting on new protocol initiatives and upgrades.

Zebec Lists on Exchanges

Bitget, one of the leading digital asset trading platforms, has announced the listing of ZBC on its launchpad to be available for trading today. AscendEX is also delighted to announce the listing of the Zebec token under the pair trade (ZBC/USDT). However, the active ZBC trade had not begun at the time of writing.

Hopes are high about ZBC, given that Zebec has a great record in inventing significant products for the crypto world. The belief is that the future of crypto depends solely on developers’ inventive projects on the DeFi ecosystem. A broad acceptance of the token is much anticipated.

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Ibukun Ogundare

Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.

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