Introducing the Theta Ecosystem 2022 & TDROP NFT Liquidity Mining token
We’re excited to announce the Theta Ecosystem 2022 whitepaper! Read the latest on the Theta vision for media and entertainment, how decentralized video delivery and Edge Nodes work with ThetaDrop, and the introduction of the TDROP NFT Liquidity Mining token.
With Mainnet 3.0 successfully launched, more than 40% of TFUEL staked and over 8,000 Elite Edge Nodes, the Theta blockchain is reaching a complete implementation. While protocol improvements will continue as new features are added, the main focus of development for the remainder of 2021 and 2022 will now shift from protocol development to building the Theta ecosystem and accelerating adoption of Theta as the leading media and entertainment blockchain.
To continue driving Theta’s leadership position in the global media and entertainment market, all stakeholders in the Theta ecosystem should benefit including OTT/video platforms, Theta community, ThetaDrop NFT (non-fungible token) community, brand partners and others. Popular video platforms already integrated with Theta peer-to-peer (P2P) streaming infrastructure 1 include CONtv Anime, World Poker Tour, Cinedigm, GameTalkTalk, MovieBloc, GFUEL, THETA.tv and others. Expanding adoption of Theta’s decentralized video and data delivery is a key focus for 2022 and beyond.
Many ongoing strategic discussions with global video and OTT platforms have focused on NFTs and digital collectibles as a new source of revenue in addition to the benefits of decentralized streaming and video delivery. These long-term partnership discussions now include building their NFTs on the Theta NFT smart contract platform, incorporating exclusive NFT drops as part of the live experience for movies and shows across multiple seasons, utilizing Theta P2P infrastructure to incentivize viewers with TFUEL and introducing a fan reward and engagement program. The first Theta global video partner that launches this fully integrated vision at scale will fundamentally change the future of entertainment and gain unmatched competitive advantage. The net result — lower content delivery costs, increased user engagement, more revenues and creator-to-fan touch points.
The Theta Edge network will need to expand from video, data delivery and computing to decentralized storage to support this fully integrated vision. With an increased focus on video-on-demand, NFTs and digital collectibles, Theta’s network of Elite Edge nodes are a perfect medium to store and deliver all types of digital media including video, images, music and any digital asset. Theta enterprise validators and guardians will continue to be the core of the Theta network governance and security. The network is now more secure than ever with over 60% of fully diluted Theta supply staked.
To successfully execute this strategy, Theta is introducing a new TNT-20 token, TDROP, natively built on Theta blockchain that rewards NFT liquidity mining, provides decentralized governance via TDROP staking, and rewards Theta validators and guardians. The target launch for TDROP is February 1, 2022.
We strongly encourage all Theta community to read the new whitepaper on Theta Ecosystem 2022 & TDROP Token. For those that haven’t had a chance to do so yet, here are some quick FAQs about what TDROP is and what it means for the Theta ecosystem and existing stakeholders.
TDROP FAQs
What is TDROP and how will it be used?
In order to increase the rate of adoption and liquidity of ThetaDrop NFT Marketplace, a new TNT-20 token, TDROP, will be created to incentivize usage through “NFT Liquidity Mining”. TDROP tokens will be earned by users each time they make a primary or secondary purchase using TFUEL on ThetaDrop NFT Marketplace or through a 3rd-party NFT Dapp built on the NFT marketplace smart contract. It can be thought of as ‘mining’ TDROP by providing liquidity to the Theta NFT Marketplace. This incentivizes early adopters of ThetaDrop to provide liquidity which enhances price discovery, improves trading volumes, and drives more user growth and adoption. ThetaDrop users who hold a balance of TDROP will earn VIP benefits including early or exclusive access to NFTs, limited edition packs, unique offline perks and more.
TDROP will also serve as the governance token for ThetaDrop and the NFT Marketplace. TDROP holders can stake their tokens to gain voting rights for proposed changes to ThetaDrop. The first TDROP vote proposal is expected to be the earning rate of TDROP for liquidity miners. As the voting process progresses and stabilizes, TDROP holders will be responsible for creating new proposals to be voted on. These community proposals will also serve as the testbed for community governance features to be implemented on the Theta blockchain itself, to be voted on by holders of the Theta token.
How will TDROP be distributed?
TDROP will have a fixed supply of 20,000,000,000 (twenty billion) tokens with a target launch on February 1, 2022. The breakdown of TDROP token allocation is as follows:
30% — Earned by NFT Liquidity Mining on ThetaDrop platform (4-year period)
20% — TDROP staking rewards for decentralized governance (4-year period)
20% — TDROP for THETA validators and guardians including delegated stakers (18-month distribution based on average daily THETA staked balance from August 1st 2021 to February 1st 2023, with 1/3 distributed on February 1st 2022, then 1/6th distributed each of the following four quarters)
20% — Theta Labs dev team (18-month distribution from August 1st 2021 to February 1st 2023, with 1/3 distributed on February 1st 2022, then 1/6th distributed each of the following four quarters)
10% — Reserve for Theta marketing, advisors, partners (not vested)
Will there be a TDROP token sale event?
No, there will not be any token sale event. The above distribution is for the entire supply of TDROP and no more can be created. If you see any offers online for a TDROP sale, be sure to report it to whichever platform you see it on as a scam/phishing attempt.
How will TDROP affect the THETA and TFUEL tokens, and how are they related?
TDROP is designed to work together with THETA and TFUEL tokens to incentivize onchain transactions volumes and blockchain security. TDROP will not overlap with or change any of the existing uses of THETA or TFUEL. THETA stakers will receive 20% of the total supply of TDrop simply for continuing to stake and run Theta nodes. Once decentralized NFT storage is implemented, Theta NFTs will be hosted on Elite Edge Nodes allowing node operators to earn 1% of any TFUEL sales of NFTs they are storing.
Why create a TNT20 TDrop token? Why not just use THETA or TFUEL?
THETA, TFUEL and TDROP each have different uses and different economic drivers and incentives. If THETA tokens are staked to secure Theta blockchain and TFUEL tokens are transacting between Edge Nodes for relaying and compute jobs, they can’t simultaneously be used to incentivize ThetaDrop transactions, nor staked by ThetaDrop users to vote on changes to ThetaDrop — a token can’t be in two places at one time. Rather than making the existing tokens have contradictory economic uses and confuse what the purpose of each token is, a standalone TNT-20 TDROP token can be made so that stakeholders that have use of different parts of the Theta ecosystem can use the token that specifically aligns with their usage.
