Tonstarter Launchpad Reports on the First-ever TON IDO Successfully Closed in Less Than 4 Hours

Place/Date: - October 13th, 2022 at 9:50 am UTC · 3 min read
Source: Tonstarter

Tonstarter Launchpad Reports on the First-ever TON IDO Successfully Closed in Less Than 4 Hours
Tonstarter launchpad completes first TON blockchain token sale. Photo: Tonstarter

Tonstarter, the first TON-native launchpad, reported that the first IDO on the TON blockchain was a great success. The 333 allocations of the Fanzee Labs native token, FNZ, each worth $300, were distributed to randomly selected people among 7,818 applicants and sold out in only 4 hours after the token sale began. Despite the sluggish bear market, confidence in the was apparent thanks to the 20x oversubscription ahead of the IDO event, which guaranteed a final raise of $100,000.

A substantial contribution to this promising result was made by the project Fanzee Labs. With over $2 million of investments gained during the private round, Fanzee appeared to be a great option to invest in for the Tonstarter community. Another significant argument for early investors was the great job accomplished by the Fanzee team in the business development field. Before the token sale campaign, the project shook hands with several top-notch crypto exchanges, including MEXC, KuCoin, and several others, while the initial listing will take place on the STON.fi DEX.

The purchased tokens will be distributed to the investors within a one-month vesting period with no lockup for this token sale campaign. The Tonstarter launchpad supports Tonkeeper and Tonhub, the two most prominent TON-native wallets, so the claimed FNZ tokens will be delivered directly to users’ wallets with no issues with lost funds.

The Fanzee IDO campaign sets a high standard for the following launches by Tonstarter, along with serving as great proof of the launchpad’s efficiency for other potential IDO projects. Currently, the Tonstarter team is negotiating the next listings with other projects, as well as gearing up for its own native token launch.

When reached for a comment, Alex Plotvinov, CEO of Tonstarter, congratulated both the Fanzee and Tonstarter teams on a successful public sale and assured the investors that the launchpad will adopt the high standards shown during the debut campaign. He stated:

“I couldn’t be more glad to announce these amazing results achieved during the very first IDO campaign both for Tonstarter and the TON community itself. We’ve done a great job, considering the generally inactive market, so I would like to thank the Fanzee team for making this possible and the Tonstarter crew. We will keep up our search for the most promising project, and, considering how fast the TON infrastructure maturates, I’m confident that we’ll have several great startups to present really soon.”

About Tonstarter

Tonstarter is the first TON-native launchpad bridging promising projects with investors. While supporting projects through private and public rounds, the Tonstarter team provides expert-level coverage in the business development, marketing and community-building fields.

Tonstarter strives to incubate the most viable and promising projects to access their users to safe, decentralized investment options within a user-friendly interface.

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