TCT Protocol and Governance Token Information Sheet
TCT is NOT FOR SALE and is exclusively distributed to eligible TPAY holders and yield farmers on RGT Finance
What is TCT?
We recently announced that we are creating a governance token called TCT. Holders of this token will be the de facto owners of the TPAY Checkout protocol. The TPAY Checkout is a gaming specific payment gateway that currently supports 16 different cryptocurrencies, including the TPAY blockchain coin. There are multiple integrated fiat options as well. Work is ongoing as we continue to onboard operators of our industry leading Gamecloud turnkey online casino, sportsbook and poker platform. The platform works well on all screens, including in our mobile app. It currently has no fee structure. Future governance can dictate the direction and development priorities of this protocol.
How is the TCT different from the TPAY blockchain coin?
TCT is an Ethereum based governance token that awards holders voting rights on anything to do with the TPAY Checkout protocol. Upon creation of the governance panel, holders will be able make proposals and vote on every aspect of the product and its development. Although we are the developers of the product, its future will be dictated by TCT voting decisions.
TPAY is a cryptocurrency developed by Derek Capo and his TokenPay company in 2017. It is a secure, energy efficient, fast and stealth blockchain that has been running flawlessly for 3 years. Over 1,000,000 transactions have been processed on the blockchain without ever having a security incident or glitch of any kind. It has a marketing problem, easy to fix.
We have recently with the blessing of Derek taken over the development and marketing of this blockchain and are in the process of rebranding to TPAY Secure. Derek focused mostly on merchant processing adoption. However, we feel that the best opportunity is a gaming specific payment gateway like the TPAY Checkout. Nevertheless, TCT is being awarded to the top 250 TPAY wallets in a non-biased aged snapshot taken on the 22nd of July of this year.
What is the TCT governance token?
The TCT governance token is for the DAO governing the TPAY Checkout protocol.
- Earns revenues from future TCT fees. We feel that Gamecloud operators using the TPAY Checkout would be willing to pay a platform fee of at least 1% without hesitation.
- Used for buybacks from TPAY Checkout fees and voting in the governance panel.
- Governing and receiving fee revenues from third party projects related to the TPAY Checkout protocol.
- The total supply of TCT is hard capped at 100000. No more will ever be minted.
- You will be able to stake TCT for tokens of other upcoming RGT Finance projects.
How will TCT be distributed?
TCT token will be a fair launch and distribution, in line with the prevailing DeFi mantra. It is not for initial sale. There are only 100000 TCT tokens and no more can ever be minted. The contract dev keys will be burned upon creation.
20% of TCT to be distributed to TPAY holders
As explained, we will be using a snapshot of TPAY blockchain coin wallets from July 22, 2020. The top 250 wallets, which is any wallet with 10000 or more TPAY, will have the opportunity to claim TCT. Because TPAY is its own blockchain and not on the Ethereum network, we cannot simply airdrop or distribute passively to the claimants. So what we will do is invite those wallet owners to contact us and demonstrate ownership of the wallet by conducting a test transaction. Once proven, we will associate an Ethereum wallet address with each of these TPAY wallets. This process will be done by email with RGT administrative staff. There will be no cost to claim TCT. 20000 TCT will be divided among the successful claimants on a proportional basis relative to the amount of TPAY in each wallet. We will be announcing the claiming period on our Twitter and Telegram channels this week. Be sure to follow those for critical updates.
20% of TCT to be distributed to RGT
We will receive 20000 TCT tokens, which will be used for corporate purposes and for providing some liquidity in the TCT/ETH UNI LP. This also could include selling tokens in the open market. Specifically, we commit to continuing to develop and enhancing the TPAY Checkout protocol. Funds will also be used to further development of the TPAY blockchain coin. Future governance action can replace us as the developer and project manager.
Remember, this is a decentralized protocol and the community of TCT token holders is the ultimate protocol beneficiary and decision maker. We do hope to exceed expectations and receive the blessing from TCT holders to continue on as project lead indefinitely. But this will be up to the people to decide.
60% of TCT to be distributed through yield farming pools on RGT Finance
The majority of the TCT tokens, exactly 60000, will be distributed to yield farmers participating in 3 different pools on RGT Finance.
Pool 1: Stake a TBD token to earn TCT — 3750 DeFIN available
Pool 2: Stake TCT to earn TCT — 11250 DeFIN available
Pool 3: Stake TCT/ETH UNI LP tokens to earn TCT — 45000 DeFIN available
50% of the TCT rewards will be mined during the first week. Rewards will halve weekly until exhausted.
Disclaimer
This article does not constitute an offer to sell the TCT token. Participation by United States citizens, residents or anybody residing or physically located in the United States or its territories is strictly prohibited.
All or part of this article is not legal, financial, tax or other professional advice, and should not be considered as such. Before deciding to buy or sell the TCT token, you should seek independent expert advice. You are responsible for evaluations and decision-making made during your participation.
The TCT token is fully functional in its current state and holders of the TCT token should not expect it to be further developed by the current community.
The purchaser of the TCT tokens should not expect the current community nor anyone else to build or grow the value of the network or the TCT token.
The TCT token is not intended to constitute securities of any form, units in a business trust, units in a collective investment scheme or any other form of investment in any jurisdiction.
Holders of the TCT token should not expect the proceeds from the sale of the TCT tokens to be used to further develop the network or the TCT token.
The purchaser of the TCT token should not expect future functionality of the network or the TCT token.
The purchaser of the TCT token should not expect potential profitability of the operations of the network, or the potential appreciation in the value of the DeFIN token. The purchaser of the TCT token should not expect the availability of a market for the trading of the TCT token.
To the maximum permitted by law, we are not responsible for any liability arising from the adverse effects or consequences of the TCT token.
This article describes our current plans for the TPAY Checkout platform. While we aim to realize this, please recognize that it is dependent on quite a number of factors. We do not guarantee, represent or warrant any of the statements in this article.
