Grazing Range Pool #37 — Welcoming CAPS to the herd!
Dear alpacas,
We senior alpacas are excited to welcome our newest addition to the range — Ternoa.
All you young alpacas will be able to stake ibALPACA for $120k USD in CAPS rewards, which will be distributed over 4 weeks in the Grazing Range. The pool will go live on Nov 23rd, 2021 at 10:00 AM GMT. As usual for a Grazing Range pool, you will also have a chance to earn exclusive NFTs if you meet the staking criteria.
A leveraged yield farming pool for CAPS may be supported in the future if it meets the minimum liquidity requirements.
🎁Grazing Range Reward Details
Total Rewards: 1,300,000 CAPS (~$120k USD)
CAPS Token: 0xffba7529ac181c2ee1844548e6d7061c9a597df4
Rewards Period: 4+ weeks
Rewards Start Block: 12,889,600 (Approx. Nov 23rd, 2021 10 AM GMT)
Rewards End Block: 13,696,000 (Approx. Dec 21st, 2021 10 AM GMT)
Distribution Schedule:
Exclusive NFT Cards for Pool’s Stakers
To be eligible, you must stake ibALPACA in the CAPS Grazing Range pool before November 24th, 10 AM GMT (1 day after the pool opens) and stake until at least December 21st, 10 AM GMT (for 27 days). The NFT tier you receive will be based on the amount of ibALPACA staked.
- Green Tier: staked at least 500 ibALPACA
- Silver Tier: staked at least 5,000 ibALPACA
- Gold Tier: staked at least 50,000 ibALPACA
About Ternoa
Ternoa is the augmented NFT blockchain. This project offers data encryption and transmission through the use of NFTs and unique sending protocols. This technology can support many use cases, as it offers users complete ownership over long-term data storage within encrypted NFTs, giving them the option to transmit their data to whomever, whenever they please through our sending protocols. All this with maximum security and no intermediaries; as well as an endless amount of real-world B2B and B2C, gaming, and metaverse use cases for DApp creation!
🔒Security Score Card on CAPS
Have the contracts been audited by professional auditing firms?
Yes, our contracts have been audited by CertiK.
What is the project’s inception date?
Ternoa was launched in October 2020, but the team has been preparing for the launch since 2018.
Has your project even been involved with a hack or exploit?
There have been no hacks or exploits on Ternoa. However, one of our IDO partners who held our tokens was exploited once.
On the 3rd of September 2021, around 10:00 PM UTC, one of our IDO Partners, DAO Maker, a decentralized finance platform on the Ethereum blockchain that enables startups to raise funds, was hacked for almost $4 million. The hacker was able to access the vault in DAO Maker’s custody holding 13 million CAPS tokens purchased by DAO maker for their Strong Holder Offering. Three other projects’ tokens were also affected by this exploit (De Race, Showcase, and Coinspaid).
During this situation, our community and main stakeholders showed their support for our project, and within only a few hours the price shot almost all the way back up to where it was standing previously, at around $0.068 cents (vs. 0.072 pre hack). Today’s price is gravitating around $0.09 cents to $0.10 cents. We are very proud and grateful for the faith in our project and its fundamentals that were displayed during these tough hours. After this situation, DAO Maker bought back tokens from the market, contributing to the price restoration. They also made sure their community was compensated.
It is important to note that DAO Maker having been hacked did not interfere with Ternoa itself at all. Our contracts and tokens are secure and audited and remain untouched by this situation.
What safety measures are in place to secure your protocols from centralization risk? What contracts are not under timelock? Who has multi-sig?
All our slots are managed via multi-sig safes. All 5 co-founders share multi-sig rights, with a consensus to be formed before any operation is made.
Does your token have a maximum supply cap?
We launched CAPS with a fixed supply at 2.5 billion tokens. We did not include the ability to mint in the contract.
Mint function. If Token does not have maximum supply, how is the mint function controlled?
There is no mint function in the Capsule-coin smart contract. CAPS has a fixed supply, which can never be increased.
Centralized treasury. If the protocol collects fees, where do they go and how are they controlled? Is there any kind of treasury or insurance fund under centralized control?
The protocol does not collect fees.
Migration Function. Is there a migration function in the code? Why is this there and how to control this function from making a malicious action?
From time to time, there may be a need to create one-time migration scripts to upgrade operating environment, infrastructure or for compliance to standards. All such migration functions are coordinated and approved through governance council. For the mainnet, on-chain governance will be implemented.
Recent example was implementation of storage migration functions for Ternoa marketplace and NFTs pallets, that involved transposing (add/modify/update) storage variables during runtime upgrades.
Upgradeable contracts. Are the contracts upgradeable? Why is this there and how to control this function from making a malicious action?
Ternoa chain does not use smart contracts, but encodes the logic within the parachain itself using pallets. The Ternoa chain uses the forkless runtime upgrade feature of Polkadot substrate to make changes to network and business logic such as adding new features, interoperating with other chains, bug fixes and performance improvements, without the need for hard forks. Any forkless upgrade is triggered only on approval from the governance council. For the mainnet, on-chain governance will be implemented.
Third-party risk. What underlying external parties do your contracts rely on?
There is no third-party risk for Ternoa.
Where are your tokens currently listed?
We are currently listed on the following CEXes: Gate.io and AscendEX.
As for DEXes, we are listed on Raydium, ApeSwap, Uniswap and PancakeSwap.
Please briefly describe the utility of your tokens and all the relevant tokenomics (e.g., burn, staking, locking, etc.)
Ternoa has its own token called CAPS. To summarize, the CAPS token will be used to purchase and mint the NFTs on Ternoa’s blockchain, to purchase the storage capacity over time, and to pay the protocols and operation costs of masternodes.
A staking system will be launched after listing, allowing CAPS holders to stake their token for a highly attractive APY. These CAPS will be either exchangeable with special NFTs, or vested until the mainnet launch. More information can be found here.
We use a nominated proof of stake, so nominators will be able to stake and delegate tokens to masternode validator’s operators in the consensus protocol, in exchange for a portion of the masternode’s profits.
We also thought of a burning process, where the tokens of a compromised masternode will be seized from the corrupt validator and one part of the CAPS allocation will be allocated to the Ternoa Foundation, and the other part will be burned. Also, part of the tokens used to mint the NFTs on the blockchain will be burned.
Does your token have any advanced mechanics such as deflationary/rebase/reflexive?
No, our token does not have any of those mechanics.
Please share your project’s roadmap
You can view our project roadmap by scrolling down to the “Roadmap” section on our website. The testnet is currently live, and the second phase of testnet will be launched before the end of 2021. The mainnet V1 will be live in the Q1 of 2022.
What % of the token supply is/will be controlled by the team?
16% of the token supply will be controlled by our team.
What % of the token supply is controlled by investors? What is the token distribution model?
26% (i.e. 24% of private sales and 2% of public sales). The token distribution model can be found on our white paper here by scrolling down to the ‘Distribution of Tokens’ section.
Please share the profile of key team members
Mickaël Canu — CEO & Co-founder of Ternoa. He has been a web developer for 20 years, has 5 years specifically in tokenization and blockchain, has created multiple tech companies and more. He not only works on the vision of Ternoa but also on technical executions.
Clément Tequi — Deputy CEO & Co-founder of Ternoa. His main mission is to direct Ternoa’s development and international growth. Specialising in Token Economics, he is also the author of the book “Blockchain, towards new value chains”, and a blockchain lecturer in France.
Benjamin Arthuys — CPO & Co-founder of Ternoa. He has been producing immersive experiences for nearly 20 years to bring the most innovative ideas to life.
Martin Oliviero — COO & Co-founder of Ternoa. He spent about 10 years working in investment banking and corporate finance, making investments in various sectors (infrastructure, renewables, tech).
Valentin Peersman — Business Development Director & Co-founder of Ternoa. He follows the relations with the exchanges, some partners and advisors. Originally from the Basque Country, he has an entrepreneurial profile and started Ternoa with Mickaël Canu after having created two other companies with him.
Mohsin Riaz — CTO. He had a chance to explore the world of hardware development, embedded development, and software development. When he sees a gadget, he has three different prospects, which enables him to have a much greater appreciation for development and problem solving.
Marko Petrlić — Lead developer Substrate and Rust. He is a software developer from Croatia who worked on many embedded products until he stumbled upon Ternoa, a blockchain company that piqued his interest. He believes that crypto space is great to work in since you work with cutting edge technologies and you are surrounded with amazing and innovative people.
Nicolas Duchemin — CMO. A multilingual professional with more than 10 years experience in the IT industry, working as Digital Marketer, Business & Partner Development, promoting SaaS, IT solutions, Cloud services and Blockchain projects.
What monitoring or controls do you have in place that could catch issues, functions, or delay attacks to protect assets?
Our claim vaults are provisioned on a claim by claim basis to ensure a limited impact in case of attack.
Do you have a bug bounty program in place/planned?
A bug bounty program is expected to begin around the end of 2021 to early 2022. In addition, we have hired a group of white hat hackers to test our smart contract.
Safety practices. Is there someone dedicated to security on the team? Does your git include your test/QA scripts? Describe your current IS/QA processes? Will you commit to auditing your code at least quarterly/semi-annually/annually and for major updates and releases?
Our Blockchain architect is responsible for the design and implementation of all aspects related to on-chain and off-chain security of the Ternoa solution, and our CTO is responsible for security operational monitoring and compliance.
Our Git repos contain tests for all extrinsics that can be called and for all storage related migration functions.
QA process includes automated unit and integration tests in the development environment, followed by a test runtime upgrade in the staging environment.
It is our intent to do periodic auditing for mainnet releases, and also additional one-off auditing for specific critical releases.
