Taiko Token Sale Launches on ByStarter and Raises $9 Million Within 48 Hours

Key Takeaways

• Taiko (TAIKO) launched its token sale on Bybit's ByStarter platform on May 29th and has already garnered attention, generating nearly $9 million of investments within 48 hours.
• Taiko is an innovative Ethereum layer two scaling solution aiming to become the go-to based-rollup for the network and the default scaling solution for developers.

Taiko Aims to Reduce Network Costs on the ETH Network

Taiko (TAIKO) is a powerful based rollup for Ethereum. The project strives to extend the Ethereum network while making transactions considerably cheaper. Moreover, as a based rollup, Taiko aims to maintain Ethereum's core properties (secure, permissionless, etc.) while reducing the network's costs.

The ERC-20-based TAIKO token has a fixed supply of 1 billion. Of those tokens:

• The DAO treasury has reserved 22%.
• 20% is for the Taiko Labs team.
• 16.88% goes to the Taiko Foundation Reserve.
• 11.62% is reserved for investors.
• The Trailblazer Airdrop used 10% of the supply.
• The Genesis Airdrop on ByStarter is for up to 5%.
• Taiko will split the remaining tokens between activities like marketing and CEX liquidity.

Dear Taiko Community,

We are beyond excited to announce that after two years of hard work, the Taiko protocol has been deployed on Ethereum mainnet! 🥳

Let's look at how you can start exploring Taiko today:

1/ pic.twitter.com/LXGdPbV1Yr

— Taiko 🥁 (@taikoxyz) May 27, 2024

The project aims to attract developers to its protocol by offering a simple onboarding process and low costs. You can use most Ethereum development tools on the Taiko network and switching is simple. You only need to complete a few steps: bridging ETH and switching to a Taiko RPC.

Taiko is fast and straightforward when beginning to use the network, as it's over 95% similar to Ethereum. These factors could draw developers to the project, fueling demand for the TAIKO token and the ecosystem as a whole.

Taiko Token Sale

After raising $22 million via a private sale, the TAIKO token sale has been publicly available on the ByStarter platform. Users can purchase TAIKO for $2 per token. A total of 2 billion TAIKO are available throughout the sale, half unlocking immediately upon listing and half unlocking over a 3-month vesting period.

The token sale requires users to contribute USDC or USDT tokens for a chance to receive a TAIKO allocation. Successful participants are allocated a certain number of tokens based on their contribution and Bybit VIP level. Unsuccessful participants will have their contribution refunded to their funding accounts.

Taiko – Looking Ahead

The Taiko protocol launched on the Ethereum mainnet on May 27th and has already achieved well over 150,000 transactions. With the network already enjoying massive engagement and community support, things look bright for Taiko's future.

We've achieved an incredible milestone!

Over 150.000 transactions on Taiko within 3 days of our mainnet launch!

We want to thank our community, ecosystem partners, and everyone else who was a part of this incredible journey! pic.twitter.com/x2u8wrYPzb

— Taiko 🥁 (@taikoxyz) May 30, 2024

Because the Taiko token sale is launching on ByStarter, the asset will benefit from a fast-tracked Bybit listing. As Taiko becomes available to millions of users worldwide, the demand for the TAIKO token will likely increase, pushing the price upward.

Moreover, the asset boasts a fixed supply of 1 billion tokens and no inflation. As such, token mints won't dilute the asset's value. Taiko's success is directly linked to its dominance in the $10.5 billion Ethereum rollup space. If the project can gain market share, we could see big things from TAIKO, but if not, the project could fizzle out.