Solana-based ridesharing app Teleport shuts down due to lack of market readiness for decentralized ridesharing
Teleport, a ridesharing app based on Solana, has announced its closure due to a lack of market readiness for decentralized ridesharing. The company, which aimed to compete with Uber and Lyft, raised $9 million in October 2022 and publicly launched in June. Teleport differentiated its model from Uber by taking a 15% cut on each ride, while drivers could choose between accepting USDC or fiat through Apple Pay. The company will support users to off-ramp their USD Coin balances and private keys until Feb. 28.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Solana Meme Coin Trenches Heat Up as Morning Routine Token Touches $19 Million
Ripple Calls on SEC to Implement 3 Crypto Regulatory Solutions
AVAX Price Breakout Targets $126 with 450% Surge Potential
AVAX eyes a 450% surge to $126 after a strong breakout, offering over 5.4X potential gains for investors.What’s Driving the AVAX Price Breakout?Should Investors Buy Now?
Celestia Hints at Rebound, Arbitrum Unlocks 92.65M Tokens— Meanwhile, Developers Race to Join BlockDAG’s Hackathons
Explore Arbitrum (ARB) token unlock, Celestia (TIA) price analysis, and how BlockDAG’s HackerEarth event drives blockchain builders together.Arbitrum (ARB) Token Unlock Brings Supply Questions Into FocusCelestia (TIA) Price Analysis Signals Key Market LevelsBlockDAG Hackathon Sign-Ups Surge as Seats Begin to FillFinal Thoughts
Trending news
MoreCrypto prices
More
