Tonstarter closes its inaugural IDO by selling all FNZ tokens in under 4 hours

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Tonstarter, the preeminent launchpad native to The Open Network, is proud to announce that its inaugural initial decentralized exchange offering went off without a hitch. In fact, it was so successful that all available Fanzee Labs tokens, FNZ, sold out in under four hours.

Fanzee’s IDO Waitlist was oversubscribed by 20x, totaling 7,818 people, 333 of whom were randomly selected to receive an allocation. Each investor was permitted to buy out $300 worth of FNZ. Although the cryptocurrency market has been entrenched in a bear market for a protracted period, investors wasted little time in maximizing their buy-outs. The final result was $100,000 raised for the Fanzee project.

What made Fanzee an attractive investment for so many was its pre-token sale business activity. The project raised $2 million in a private fundraising round and found itself rubbing elbows with some big names in the crypto industry, such as MEXC and KuCoin, while locking up a listing on the decentralized exchange for its FNZ token.

The purchased tokens from the IDO will be distributed to the investors within a one-month vesting period with no lock-up. Although this was the first-ever IDO on Tonstarter and TON, the former is gearing up for much more action after setting a high bar for future token sales. The launchpad supports Tonkeeper and Tonhub, the two most well-known TON-based crypto wallets, meaning the FNZ tokens will be delivered to investors’ wallet addresses without any hiccups.

Tonstarter plans on keeping the good times rolling by continuing to optimize its platform for more — and hopefully even better — IDOs. At the moment, the Tonstarter team is firing on all cylinders, deciding what projects will grace its platform next, but it’s also planning an IDO for its own native token.

Tonstarter CEO Alex Plotvinov congratulated Fanzee on a picture-perfect IDO and assured investors that the launchpad would adhere to nothing but the highest standards, which were on full display during Tonstarter’s inaugural IDO. He said:

“I couldn’t be more glad to announce these amazing results achieved during the very first IDO campaign both for Tonstarter and the TON community itself. We’ve done a great job, considering the generally inactive market, so I would like to thank the Fanzee team for making this possible and the Tonstarter crew. We will keep up our search for the most promising project, and considering how fast the TON infrastructure matures, I’m confident that we’ll have several great startups to present really soon.”

About Tonstarter

Tonstarter is the first TON-native launchpad bridging promising projects with investors. While supporting projects through private and public rounds, the Tonstarter team provides expert-level coverage in the business development, marketing and community-building fields.

Tonstarter strives to incubate the most viable and promising projects to access users to safe, decentralized investment options within a user-friendly interface.

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