Tokamak Network deposits additional 200 ETH to TOSv2 Treasury (2023.8)
August 15th, 2023 TOS backing has increased!
You can find the Korean version of the article here.
Hello, this is Tokamak Network. We announce that TOSv2 Ethereum deposit scheduled for August has been completed. The Tokamak Network team has deposited a total of 2000 ETH including the August deposit. With this, Tokamak Network has successfully completed the initially planned 2000 ETH deposit for the TOSv2 launch. To maintain consistency with the TOSv2 bonding system, Tokamak Network has decided to back the initial TOS supply with 2000 ETH in treasury reserve, and as previously announced, 200 ETH per month were deposited from November 2022 to August 2023.
The details of changes from ETH deposit in August are as follows.
[TOSv2 Treasury Update]
- Today’s Ethereum Deposits by Tokamak Network (2023 8.15 09:00): 200 ETH (492 Million KRW, 368,500 USD) (Transaction link)
- Total ETH deposit by Tokamak Network: 2000 ETH (4.9 Billion KRW, 3.7 Million USD) (Treasury address)
- Changes in Minting Rate (TOS per 1 ETH): 16,000 → 14,000 (Transaction link)
From the ETH deposits over the past 10 months, the minting rate of TOS has decreased significantly since the launch of TOSv2. At the initial stage of TOSv2, the minting rate of TOS was 125,000 per 1 ETH, but it has dropped to 14,000 per 1 ETH as of August 2023. In other words, 2000 ETH deposit by Tokamak Network has helped to increase the intrinsic value of TOS approximately by 9 times from 1/125,000 ETH (KRW 20, USD 0.015) to 1/14,000 ETH (KRW 176, USD 0.13).
In addition to TOSv2 ETH deposit, the Tokamak Network team plans to 1) open a new bond market, 2) activate project launch and participation functions in Titan Network to expand the TONStarter ecosystem. Various functionalities related to TONStarter will also be added to the Titan Network, so please stay tuned for further updates.
Tokamak Network & TONStarter
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