TEA Memecoin Completes Presale, Raises $3.4M from Investors, and Announces Development Plans

New beverage-themed memecoin TEA has completed its presale, raising 38,888 SOL from investors and community members

Beverage-themed memecoin TEA has announced its presale completion, revealing that it managed to raise 38,888 SOL from investors and community members earlier this July. The token went live on Solana, and presale participants received TEA in a round of token distribution. The asset is now available for trading on Solana’s Raydium Protocol and prepares for CEX listings.

Two weeks after the successful presale, the TEAm shares its development plans, which seem to go far beyond what a typical memecoin has to offer.

3M Users in Days, 3M Dollars in Minutes

The token’s “communi-TEA” experienced explosive growth in the last month, accompanied by a surge in media attention. In just a few days, the project gathered over 3 million users on Telegram – a growth rate rarely seen even in the Web3 segment. TEA unites users around a passion for the drink, strengthened by sustainability initiatives and numerous DeFi incentives.

The idea resonated widely – among millions of tea lovers worldwide, many are already familiar with Web3, which simplified their onboarding into the project. Of 38,888 SOL that TEA raised during the presale, over 60% of the sum worth $3.4 million was collected in just 10 minutes. The initiative gathered numerous partners across the industry, including MemeFi, WormFare, Gotbit, CashCoin, SpinnerCoin, and AVACOIN. Gil Petersil, a global thought leader and mastermind expert, has become the project’s global ambassador.

TEA Aisle at the Grocery Store

The rise of TEA came amidst a significant crypto market correction – the meme industry experienced a noticeable slowdown in Q2 2024. However, a new category of assets still managed to enter the spotlight – beverage-themed memecoins.

These cryptocurrencies, primarily dedicated to beverages such as water, tea, coffee, and beer, have garnered significant attention in Web3. They unite people around their love for these products but also challenge each other in harsh competition. For instance, the presales of BEER and WATER kicked off one after another in June, each raising millions of dollars. Both tokens were listed on Bitget and MEXC, boasting solid trading volumes.

TEA has also secured a strong position in this market. It has a vision for a sustainable future for the global tea industry, which it aims to implement through the power of decentralized finance and charity “initia-TEA-ves.” Those include environmental programs in tea-growing regions, education, and sustainable tea farming. Participants will be rewarded with rare tea varieties and exclusive tea trips.

Steeping, Harvesting, Brewing

Besides offline ventures, the project features DeFi incentives and other on-chain activities – some of them are already live on Solana, and many more are to come.

TEA SWAP and Cashback. TEA went live on Raydium DEX and launched TEA SWAP, encouraging users to exchange SOL for TEA on the project’s website. The team motivates users with cashback: anyone who buys TEA and holds it in their balance for at least two weeks will receive a 3% bonus in TEA tokens.

Staking. Users can stake their TEA tokens and “steep” rewards. The longer the staking period, the greater the result: two weeks will yield token holders 5% APY, one month will bring 15%, while those who stake for three months will receive 55% APY. The team will distribute rewards from the TEA Fund pool.

“Harvesting” (farming). By providing liquidity to TEA pairs on decentralized exchanges, community members earn TEA, which they can stake to earn rewards in the form of a pre-agreed tier-1 memecoin, and LP tokens which they can farm for more profits.

What Lies Ahead on the Roadmap?

The project’s roadmap showcases many other features to support its long-term growth.

The team has introduced “brewing” as a way to burn the token. Each month, half of the tokens from the burn pool will be allocated to charity, and the other half will be raffled off among all users who’ve made transactions in the past 30 days.

Tap-to-win game. This community-driven clicker game, scheduled for launch soon, is slated to bring tap games to a new level with integration into the real world using accelerometer technology.

CEX listings. In a recent poll, 68% of the “communi-TEA” voted for CEX listings as the most preferred next step for the project. The team then released a teaser regarding the upcoming listings.

RWA partnership. TEA is set to launch a real-world asset tokenization project to reinforce its connection with the tea production industry.

With extensive ecosystem developments ahead, TEA aims to secure its place in the grocery-focused token segment and the broader memecoin market. “The best flavors of tea are savored slowly,” emphasizes the project, “and the most