Dear Teritorians,
After going mainnet 2 months ago, launching Teritori Alpha dApp a month ago, time has come to take stock and answer the questions the community has and talk about the next steps.
In this article we’ll focus on questions related to $TORI tokenomics and Teritori dApp.
Tokenomics
Why did we choose this model? What does it bring to the Teritori chain?
As a Social Hub, we aim to deploy a maximum of decentralized applications and services that will benefit the thousands of DAOs that populate the web3 and currently rely on centralized tools. Most of the upcoming features will require TORI.
To support this movement, we have chosen a high inflation token model for the first year, in order to comfortably distribute the token to early adopters. TORI current APR both supports the token by offering an attractive incentive to liquidity providers during the distribution phase and raises awareness on the project.
This is a model that has struggled since the FTX crash, while we are still in the early stages of deployment.
This is important to highlight that trading cryptocurrencies carry risks for investors. Long term holders are often rewarded. Let’s not forget that $TORI started at $0.04 about 2 months ago and the Alpha v0.1 has been live for 1 month only.
The product
Talking about the product, let’s start by taking a look at the roadmap we’re following: https://teritori.com/roadmap
First off, we can note that we’ve delivered everything we’ve announced for Q4 2022 at the exception of The R!ot P2E that will be released in a few days before we refacto our codebase and open source it with its dedicated documentation.
Below are the metrics of the first month of operation Teritori did by listing 6 collections on its launchpad & marketplace:
You can also check our traffic metrics for perspective:
As you can see, these metrics show that we are still very early and we believe our margin of progress is wide.
Building takes a lot of time and we have been working on Teritori for more than 1 year, some of the features we’re implementing have been developped 5 years ago in other project we’re gathering today.
We decided to start with NFT focused features for 2 reasons:
- Part of our go-to-market strategy is to connect and agreggate as many communities as possible and our understanding of NFT projects created the perfect opportunity to get started.
- Bear market or not, NFT communities are among the most active communities and most likely our early birds when it comes to social features such as the social feed and token gated groups we’re going to deploy.
Our main features that will at the same time allow Teritori to become the social hub it’s meant to be and create scalable use cases for $TORI will be delivered by Q1 2023.
The Launchpad and NFT collections are not sufficient to create a sustainable buy pressure on the $TORI token yet. Only a few collections have been minted in $TORI and the reason for that being the fact that the teams behind these particular collections didn’t need much funding and could afford to stake their mint proceeds thus reducing the sell pressure on the token.
On the other hand, most mints are performed in $ATOM to allow for project owners to use the mint proceeds to build their projects without increasing sell pressure on $TORI.
Conclusion
We are still not well known on Cosmos, however we want to deliver a product that people love and use on a daily basis and we are ready to discuss with each actor of the ecosystem with pleasure. We are more than convinced than most of the Cosmos OGs can bring us so much value.
We are not here to compete with other projects, we’ve been planning Teritori for a very long time and want to deliver our vision. There is a lot in the pipeline, you have access today to the tip of the Teritori iceberg, but we assure you that everything that is coming does not exist anywhere else and this, we hope, will also bring new people from other chains to the ecosystem.
Builders coming from other ecosystems, is something Cosmos wants, right?
Here we are, new members of the Cosmos who want to bring tribes from other chains to you and to be part of the ecosystem.
Isn’t it what the internet of blockchain is after all?
