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The fundraising additionally attracted participation from Primitive, Paper Ventures, Karatage, Animoca Ventures, Spartan Capital, TON Ventures and Ankr.
The funds will likely be used to scale the mission’s advertising and marketing and developer relations.
TAC plans to launch its testnet this week forward of the mainnet launch in Q1 2025.
TAC (TON Utility Chain), an EVM layer-2 community developed by TON enterprise builder TOP (The Open Platform) and Curve creator Michael Egorov has raised $6.5 million in a seed spherical co-led by Hack VC and Symbolic Capital.
The fundraising additionally attracted participation from Primitive, Paper Ventures, Karatage, Animoca Ventures, Spartan Capital, TON Ventures and Ankr, with Polygon’s Sandeep Nailwall becoming a member of as an angel investor.
The crew behind TAC needs to simplify constructing Ethereum Digital Machine-compatible apps on the TON community, while additionally tapping into Telegram’s huge consumer base of greater than 900 million.
TAC will use the funds to scale the mission’s advertising and marketing and developer relations and advance its tech efforts to attach EVM dApps throughout DeFi, GameFi, SocialFi and real-world belongings. The extension additionally goals to simplify the self-custody of TON and Ethereum belongings with pockets abstraction in line with a press release shared with The Block.
Pockets abstraction permits customers to entry and transfer belongings throughout completely different blockchains with out requiring completely different wallets. In keeping with the announcement, TAC is secured by TON liquid staking tokens and there are plans to introduce redstaking to the ecosystem.
Commenting on the announcement, TAC CEO Pavel Altukhov stated in a press release: “Since saying our launch earlier this yr, we’ve seen unbelievable ranges of curiosity from builders, builders and traders who perceive the mission’s potential to increase the chances of web3 growth. We’re excited to be debuting the general public testnet at DevCon 2024 and exhibiting builders the 950 million the explanation why they need to construct on TAC.”
TAC plans to launch its testnet this week whereas the mainnet is scheduled to go reside within the first quarter of 2025.
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