TATCH 👻 Introducing ‘tcl.GULDEN’

4 min readApr 11, 2018

Things to know first:

Know about Gulden
Know about Pow2
Know about bridge.NLG

What is tcl.GULDEN ?

tcl.GULDEN is centralised, company backed managed service.
“ Gulden witnessing as a service ».

tcl.GULDEN is a Tatch Capital Limited issued asset and backed by 1 Gulden locked on a witnessing account. Initial issuance is limited to a maximum 21 000 000 tcl.GULDEN.

1 tcl.GULDEN = 1 NLG locked in witnessing accounts*.

Tatch Capital will keep NLGs in witnessing on very low latency (high availability and responsivity) and dedicated servers*.
Idea is to have multiple accounts set in different locations with ‘optimal’ witness NLG amount. According to this calculator it should be around 300 000 NLG per account.

90% of the Net Profits from witnessing are going to tcl.GULDEN holders via buy back & burn (BBB) policy. Remaining 10% goes into Tatch Capital Revenue stream.

Transaction fees on tcl.GULDEN are 1% and goes to TCN holders.

Why use tcl.GULDEN ?

tcl.GULDEN allows you to enjoy profits from pow2 witnessing:

Without any locking period, tcl.GULDEN can be trade back to Gulden “at anytime

And with:

No need to set and maintain any witnessing system wether it is your raspberry-pi, VPS, etc
Optimal witnessing performances: on average uptime witnessing will be better than what you can achieve on your own and this for 2 reasons. Gulden witnessing « wheel » choose a witness for each transaction favouring 2 factors:
« staking/witnessing » amount of the witnessing account, optimal amount is dynamic and depends on the network.
« quality » of the witnessing instance/system: ping, latency, connectivity, availability, uptime rate, etc
Continuous revenue stream of NLG: because we will ‘decentralise’ our Gulden Witnessing operation, odds of having all witnessing accounts down simultaneously (with a ‘penalty’ to go back to witnessing) is close to 0…

*IT Systems

‘Pool’ of witnessing Guldens are dispatched on 24/7 servers with low latency.

On top of security provided by Gulden itself, all our instances use latest IT Sec standards and all our Pow2 systems will be monitored by Tatch Capital SOC (Security Operational Centre).

In order to further improve security as well as globaly improve witnessing on the whole Gulden Network we will use systems located in various places and with a variety of providers such as: Google Financial Cloud, Beeks Financial Cloud, OVH, Amazon AWS, Docker Cloud, etc.

Such segregation and split in our architecture will insure continuous Gulden ‘witnessing’ rewards; just like a ‘mining pool’ would do. This gives us a maximum witnessing uptime.

How rewards is distribute to tcl.GULDEN holders ?

Profit distribution is based on the same mechanism as Tatch Capital Notes: buyback and burn (BBB).

Distribution of tcl.GULDEN against bridge.NLG will unfold until 8 weeks after the official release of Pow2. We would like to distribute at least a minimum of 10 Million tcl.GULDEN with a limit set to 21 million.

As soon as we finalized the distribution and locked the Gulden in witnessing accounts we will start the buy back and burn (BBB) policy using NLG won from the POW2 witnessing to shrink tcl.GULDEN total supply. Hence mechanically distribute profits to all tcl.GULDEN holders.

This will unfold on tcl.GULDEN/bridge.NLG pair.

Example

If, for instance, we distribute 10 million tcl.GULDEN, there will be 10 million NLG locked in witnessing accounts from which we will get ‘witnessing’ profits/rewards. It will remain constant.

On the other hand, profits will serve to buy back and burn tcl.GULDEN on a regular basis. Let’s say that after a year 1 million tcl.GULDEN would have been destroyed, following year you would still have 10 million gulden in witnessing but only 9 million tcl.GULDEN remaining.

tcl.GULDEN: a backed asset

tcl.GULDEN are backed with locked NLG 1:1 at distribution. Prime focus of tcl.GULDEN is to produce NLG from witnessing rewards/profits in order to shrink tcl.GULDEN total supply.
On top of the ‘goodwill’ + fee costs + witnessing costs + value of being ‘liquid’; tcl.GULDEN will be at least backed by the ratio of « locked NLG » divided by tcl.Gulden which will increase on a constant and measurable basis above 1