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Tea: Institutional Report

3 min readResearch

Tea: Institutional Report

Tea: Abbreviated Introduction

For more than twenty years, the internet has benefitted from the rewards of freely available open-source software. When a new project emerged that allowed a new functionality, it was incorporated as a new component in the internet’s infrastructure, leading to new capabilities and becoming a foundation for innovations. However, maintainers of these projects are sometimes unpaid volunteers.    

A new project named tea wants to support developers of open-source projects by making it possible for them to earn various rewards. 

Blockchain and web3 technology are leveraged to deliver compensation. The Project plans to implement a Proof-of-Stake (PoS) system, and utilize a Byzantine fault-tolerant (BFT) blockchain.  

The tea token secures the system via staking and supports open-source developers. A token offering has not yet been announced.    

The Project is located in Puerto Rico, a country that has gained a reputation for being a tax haven for crypto investors.   

The team members of tea have a solid technical background. Besides, Binance Labs has led the project’s $8 million seed funding round. 

However, the project is yet to launch the testnet, and so far no roadmap has been published.   

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