TORI Token: Empowering the Teritori Ecosystem
Initial Token Supply and Controlled Issuance: At the genesis of Teritori, the network will introduce an initial supply of 200 million TORI tokens. These tokens will be allocated among Airdrop beneficiaries, a community pool, and a strategic reserve, all of which play vital roles in the network’s development.
Inspired by Bitcoin’s Halving: Drawing inspiration from Bitcoin’s halving mechanism, TORI token issuance will follow a unique schedule known as the “thirdening.” This schedule involves reducing the rate of token issuance by one-third (⅓) each year.
Gradual Reduction in Token Issuance: In the inaugural year, a total of 300 million TORI tokens will be issued. Following this, every 365 days, the token issuance rate will decrease significantly. As a result, in the second year, only 200 million tokens will be released. In the third year, the issuance will further decrease, resulting in a total of 133 million tokens being released.
This controlled issuance strategy ensures that the network starts with a relatively higher inflation rate and progressively reduces it over time. It aims to strike a balance between network security, community incentives, and maintaining the long-term value and scarcity of TORI tokens.
Tori
TORI is the governance and utility token of the Teritori blockchain, playing a pivotal role in the ecosystem’s growth and governance. Here’s an in-depth look at the TORI token and its significance:
1. Governance and Decision-Making:
- TORI serves as the primary tool for decentralized decision-making within the Teritori Network.
- Token holders have the power to vote on critical strategic directions for the network through the Teritori DAO (Decentralized Autonomous Organization).
2. Community Fund Control:
- The Teritori DAO manages the community fund, where important decisions regarding grants and blockchain updates are made.
- Future bounties will also be subject to DAO voting in a subsequent phase.
- Contributors can propose and vote on the integration and listing of new dApps and features in the Teritori Store.
3. Utility Across the Ecosystem:
- TORI is a versatile utility token used to access and interact with various dApps and services within the Teritori ecosystem.
- It facilitates participation in the ecosystem’s activities and transactions.
4. Token Release Schedule:
- Initially, TORI experiences high inflation. The genesis supply of TORI is set at 200 million tokens, distributed among Airdrop beneficiaries, a community pool, and a strategic reserve for network development.
- TORI token issuance follows a “thirdening” schedule, similar to Bitcoin’s halving.
- In the first year, 300 million tokens are issued, reducing by ⅓ each subsequent year.
- This controlled issuance strategy aims to maintain token value and scarcity.
5. Token Distribution:
- Newly released tokens are distributed based on specific allocations:
- Staking Rewards: 40% – Rewards for validators and delegators securing the network.
- Usage Incentive: 25% – Incentives for users across different dApps.
- Developer Vesting: 15% – Reserved for the development team with a vesting period of 4 years.
- Grants Program: 10% – Funding for individuals and organizations developing projects on the Teritori ecosystem, with additional technical and marketing support.
- Community Pool: 10% – Controlled by Teritori DAO governance, supporting community initiatives and ecosystem growth.
6. Strategic Reserve:
- An initial allocation of 80 million TORI is set aside in a strategic reserve, overseen by a multisig DAO.
- The reserve funds initiatives through grants, supports validators through delegations, and aligns with long-term strategic partners.
- It does not engage in market selling or network control, emphasizing its role in ecosystem development.
7. Empowering Validators and Delegators:
- Validators and delegators, essential for network security, receive 40% of newly released tokens as staking rewards.
- The top 100 validators, chosen by the highest delegation amount, play a crucial role in network consensus.
8. Developer Rewards:
- 15% of released tokens are vested developer rewards, non-transferable until fully released over 4 years.
- These rewards motivate the development team to contribute to the ecosystem’s long-term success.
9. Teritori Grants Program:
- 10% of tokens are dedicated to the Teritori Grants program, fostering innovation by providing funding and support to individuals and organizations.
10. Community Empowerment: – The community pool, funded by 10% of newly released tokens, promotes community engagement and ecosystem growth. – Teritori DAO governance oversees these funds, enabling community-driven initiatives from day one.