How much did Tezos raise?
The Tezos Initial Coin Offering brought in more than $230,000,000 in dollar equivalent of Bitcoin and Ethereum . The initial offering was a record-high at the time it occurred. The appeal of Tezos lay in its innovative designs for consensus and self-governance.
Many investors realized the preference for cryptocurrencies that avoided splits or hard forks. When internal disagreements among a currency’s management forced drastic changes, the currency loses market impact. Investors refer certainty and continuity in cryptocurrency investments. Tezos innovative self-governance offered a solution for the negative impact of splits and hard forks.
Tezos also provided a useful platform for dApps and Smart contracts. The choice of a functional coding language opened up potential of creative use of the platforms smart contract capacity.
Soon after the successful ICO, Tezos encountered a bitter internal dispute over control between the Breitmans and the appointed company president. The initial period was also complicated by a dispute over the application of US securities laws to the Initial Coin Offering. Tezos has overcome those obstacles and now seems ready to fulfill some of the initial promise that stirred the markets to a record high ICO.