ParaState Releases Official Public Token Sale Numbers for Successfully Completed Public Offering on Republic

ParaStateParaState, a multi-chain smart contract platform bridging the application and developer ecosystems between different chains and Ethereum, today received the final results from Republic on its successfully closed public offering.

Attracting over 2,300 investors, the ParaState native token offering began on January 12, 2022, and successfully closed with the sale of 43,432,500.85 STATE tokens, hitting a final fundraising amount of more than $7.15 million. There were around $1.05 million committed investment invoices that failed to complete the settlement within the required timelines. So a total of 6,655,198 unsold STATE tokens will be distributed back to the Eco Treasury.

Below is the official breakdown report from Republic of the STATE tokens sold by the different lockup terms during the Public Offering.

• 30-day lockup, 18,120,343.59 STATE tokens
• 90-day lockup, 16 648,432.26 STATE tokens
• 180-day lockup, 8,663,725 STATE tokens

The lockup period countdown started on February 1, 2022 at UTC 0:00. All eligible investors need to use the MetaMask ERC20 wallet address submitted on the Republic platform to claim the tokens via a portal on the ParaState official website at the distribution time. Instructions are to be announced.

With this Public Offering, ParaState completes its STATE token offering stage as set out in its Tokenomics: Seed, Strategy, Private and Public Offering; thus achieving the Token Allocation at the TGE equivalent of around 31.214% of the Total Supply of its native token. The TGE will be around mid-February. Stay tuned!

To date, ParaState has managed to raise a total of around USD 18.95 million through previous private and public rounds, thus achieving the necessary working capital for the deployment and development of its multi-chain platform of smart contracts.

ParaState is a next-gen smart contract infrastructure for all Ethereum-compatible networks that expands the boundaries of scalability and composability beyond Ethereum for dApps, especially in the DeFi sector. Innovation is accelerated with WasmEdge, a smart contract developer platform with built-in Ethereum compatibility (EWASM and EVM) and interoperability in one place, moving the market one step closer to ETH 2.0.

About ParaState

Known as Ethereum on steroids, ParaState is a multi-chain smart contract platform bridging the application and developer ecosystem between Polkadot, Substrate and Ethereum, as well as other chains wanting to provide Ethereum compatibility. While supporting the EVM pallet to provide seamless compatibility with all existing Ethereum applications, ParaState also provides developers with a next-gen smart contract implementation environment, Ethereum-flavored WebAssembly. These two infrastructures are ensured to talk to each other and share the same account system on ParaState.

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