Telos Raises $8M Funding to Avoid TLOS Token Sales Before EVM Launch

Telos Raises $8M Funding before the Launch of EVM and TLOS token Supply

The $8 million funding has been supported by a group of five notable crypto investors where they will receive 1.7% of the total TLOS token supply.  On being asked in an interview as to why Telos has moved from token sales, Telos chief architect Douglas Horn stated that the blockchain network aims to prevent centralized ownership, which eventually leads to whale trades as the network matures.

The latest funding deal resulted in the total sale of eight million TLOS tokens, with none of the investors exceeding two million tokens in holding.  At the same time, Horn believes that external fundings will help Telos grow without risking “sacrificing token support or community sustainability.”

The fundings are hosted on the network’s Ethereum Gnosis safe, which will be redirected to marketing via Telos Foundations, development via Telos Core Developers, and the Telos liquidity fund.

Most Powerful Ethereum Virtual Machine

Telos is one of the most active blockchain platforms in the world according to Blocktivity. Just last week, the firm announced its launch of the Telos EVM Mainnet, one of the most performant, highest capacity, and lowest cost of all ethereum virtual machine infrastructures.

Telos EVM is among the few Ethereum virtual machine implementations that are not forked from existing EVM implementations such as go-Ethereum. In fact, Telos EVM runs existing Solidity smart contracts without modification, with Ethereum feature-parity, but with 30X greater speed, over 100X higher capacity, and around one percent of the cost of Ethereum gas fees.