Santa Clara, CA, March 15, 2021: The Taraxa Foundation has closed on a public sale of TARA tokens to fund the ongoing development of the Taraxa network, a purpose-built decentralized infrastructure founded by two alumni of Stanford engineering. Among notable early investors is Fenbushi Capital, one of the first investors in Ethereum. The sale took place on March 11th and originally was expected to run for four days. However, due to unprecedentedly high demand, the sale was closed in a matter of minutes.
TARA is a native token of the Taraxa network – a public PoS ledger built specifically to track informal transactional agreements and data. Founded in Silicon Valley in 2018, the company has since built a public blockchain ledger that leverages a slew of technical and architectural innovations to enable two application platforms (Helio and Marinate) that are now running pilots with clients across the world.
The company is finalizing listing paperwork with multiple exchanges and is expected to be listed very soon. TARA tokens will start out as an ERC-20, then migrate to native tokens after the mainnet has been sufficiently tested for stress and security. The proceeds of the sale will be used to fund ongoing technical and ecosystem development of the network.