ParaState Successfully Completes Public Offering on Republic
ParaState, a multi-chain smart contract platform bridging the application and developer ecosystems between different chains and Ethereum, successfully closed its Public Offering on the investing platform Republic.
Attracting over 2,300 investors, the offer of its native token began on January 12, 2022, and successfully closed with the sale of 43,344,801.92 STATE tokens, hitting a final fundraising amount of more than $7.14 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 a tentative breakdown report from Republic of the STATE tokens sold with the different lockup terms during the Public Offering. Please take note that the numbers are not officially finalized but we do not anticipate any significant changes. The lockup period countdown will start 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:
- 30-day lockup, 18120343.59 STATE tokens
- 90-day lockup, 16612400 STATE tokens
- 180-day lockup, 8612058.33 STATE tokens
With this Public Offering, ParaState completes its STATE token offering stage as set out in its Tokenomics: Seed, Strategy, Private and Public Offering. The TGE will be around mid-February. Stay tuned!
To date, ParaState has managed to raise a total of around USD 18.94 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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