One of the most active blockchain platforms Telos has raised $8 million in funding right before the launch of the Telos Ethereum Virtual Machine (EVM) platform.
<h2><strong>Telos Raises $8M Funding before the Launch of EVM and TLOS token Supply</strong></h2>
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 <a href="https://www.investing.com/news/cryptocurrency-news/telos-raises-8m-funding-before-evm-launch-to-avoid-token-sales-2672637" target="_blank" rel="nofollow noopener">interview</a> 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.
<blockquote><em>"By having a fair community launch and a truly decentralized operation, Telos also avoids regulatory scrutiny at the highest level possible for any crypto, </em>adding, "<em>While bootstrapping preserved our identity as an egalitarian, self-governing community, it left us exposed to the risks of continuing to fund our explosive growth through extended bear markets.”</em></blockquote>
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.
<h2 class="article-headline">Most Powerful Ethereum Virtual Machine</h2>
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<a href="https://www.cryptoknowmics.com/news/wanchain-launches-first-crosschain-bridge-with-link-polkadot-brings-evm-smart-contracts-to-dot/"> existing</a> 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 <a href="https://www.cryptoknowmics.com/news/post-eth-2-0-upgrade-ethereum-supply-is-expected-to-decrease/">gas fees</a>.

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

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

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

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