TAKI DAO, which comprises the community of $TAKI token holders, has announced the launch of an Initial Exchange Offering (IEO) for its token- $TAKI. Proceeds from the IEO will benefit the TAKI DAO’s community treasury. This IEO will enable $TAKI to reach a broader global audience and expand community engagement on Taki, the global social network available at taki.app. People can track the live progress here.
Taki is pioneering the engage-to-earn model, where user engagement and quality content are directly rewarded, benefiting both content creators and users. Taki allows users on the platform to earn $TAKI through engagement with the platform, including content creation, or even by basic level engagement such as commenting and liking posts.
While the platform is currently invite-only, over half a million people have signed up for the waitlist ahead of its launch in a span of three weeks. $TAKI is the currency of the social economy, used to buy user coins, send tips, earn engagement rewards, and more. The platform will gradually expand its presence in other key markets following its India launch.
This IEO will introduce $TAKI to diverse markets and provide Taki users with an on-ramp and off-ramp with fiat currency. Users can bring their purchased $TAKI into the platform, or withdraw and cashout via exchanges.
Commenting on the announcement, Sakina Arsiwala, Co-Founder of Taki, said, “Taki wants to empower creators and give them a platform to bring forward their content and earn an income. With this IEO launch, users would be able to understand our vision better and gain more confidence for future growth. We want Taki to be accessible for those newly entering the world of web 3.0. That’s why the platform is designed in a way that anyone can use it, even those who are not well versed with crypto; this is where the $TAKI token will play its charm. With the $TAKI token, creators, users, and crypto-enthusiasts will be able to monetize their engagement and content on the platform.”
Taki’s engage-to-earn product design integrates user coins with social media features to incentivize and reward activities that benefit the Taki community. Incubated at SuperLayer, Taki received product design advice and networking support prior to the project’s independent spin-out and launch. Taki is powered by the RLY protocol and built on the Solana Blockchain, which allows Taki to enable user coins for millions of users, and to provide fast and inexpensive transactions with low environmental impact.
Earlier this month, Taki raised $3.45M through 11 marquee global investors. The round saw participation from key global exchanges and investors like CoinDCX, OKX Blockdream Ventures, Coinbase Ventures, Alameda Research, Solana Ventures, Formless Capital, Gemini Frontier Fund, Luno Expeditions, Huobi Ventures, and Kraken Ventures, reflecting their confidence in the platform and unique product that the Taki team brings as it enters India.