In Brief:
- Blockchain platform Telos raised $8 million in funding due to its marquee investors.
- The marquee investors are led by the co-founder of Code to Inspire, John Lilic, who is also an investor in ConsenSys and Polygon.
In the latest development in the world of tokenomics, it is reported that Telos, the blockchain platform which is based on the Ethereum network, just raised $8 million.
As per reports, this is the first time that Telos has relied on its marquee investors to bring in new capital. The marquee investors are led by the co-founder of Code to Inspire, John Lilic, who is also an investor in ConsenSys and Polygon.
To explain this new course, Douglas Horn, the chief architect of Telos, said “I have no idea what will happen next year but all bull cycles end. This capital raise was not about expecting a bearish market but ensuring that we could keep growing and building in the event of one.”
Thus, what it implies is that to safeguard against what could be a “prolonged bear market”, Telos will still have the liquidity it needs without selling off any of its TLOS tokens.
Until now, the tokenomics remained stable and this could be attributed to the fact that Telos funded itself from bootstrapping with no large investors. As a result, no giant could cause market movement with a single click of a button.
The fresh capital will be channeled in three directions — development, marketing, and liquidity.
“We’ve had a very rapid scaling up lately from a $10 million project to a $100 million project and soon to a $1 billion project — perhaps by the end of the year. Next year is likely to see us grow to $10 billion and then $100 billion based on this pattern and the valuations of comparable chains like Solana and Cardano,” said Horn.
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