The Triall community brings together people from different backgrounds, cultures, and geographies on a common mission: securing and streamlining the development of new medicines. As we appreciate your loyalty and commitment to our cause, we want TRL token holders to benefit (even more) from the growth of the Triall ecosystem. We have therefore decided to introduce a brand new TRL token burn program that is directly tied to our business development success, where TRL tokens are burned for each new clinical trial onboarded into the Triall ecosystem. In this article, we’ll share the details of this program.
What’s the size of the burn pool?
A total of 200,000 TRL tokens are reserved for the TRL Burn Accelerator program. These tokens will gradually be burned across the next 25 clinical trials onboarded into the Triall ecosystem.
What’s our definition of onboarding?
When we talk about ‘onboarding clinical trials into the ecosystem’ we are referring to clinical trial projects that are actively using any of the Triall software solutions in their operations. Currently, there are 4 clinical trials actively using Triall’s Verial eTMF solution and there are many more clinical trials in the pipeline that will adopt Triall solutions over the coming period.
How does the burn process work?
For each new clinical trial, Triall will burn a set amount of TRL tokens. This amount will start at 12,500 TRL for the first new study and gradually decreases to 5,000 TRL for the last new study (see figure 1 below).
How about the 2.5% token burn on software subscription payments?
This program runs on top of the regular token economics of TRL, which include a 2.5% token burn incurred on each incoming software subscription payment.
How is Triall onboarding new clinical trials?
Triall has a global network of potential clients and close ties to stakeholders and Key Opinion Leaders (KOLs) in the field. This network provides us with credibility and a steppingstone for the sales and marketing of our software solutions. Moreover, we have access to a global pharma intelligence database giving us insights into planned and ongoing clinical trials across the globe, thereby enabling targeted business development. Lastly, through our ‘ecosystem approach’, where we turn competitors into collaborators, we create synergistic network effects where we can tap into the business networks of entities that join our initiative. These network effects will in turn fuel the growth of the Triall ecosystem and the demand for TRL.
About Triall
Triall brings Web 3.0 to medical research by creating a digital ecosystem of blockchain-integrated software solutions that secure and streamline the development of new medicines during clinical trials. Triall’s solutions make clinical trials tamper-resistant, and enable secure and efficient integrations between the many isolated systems and parties involved in clinical trial processes. Triall’s software is created by clinical trial professionals to ensure optimal user experience, solving actual industry pain points.
Visit the website: triall.io
Twitter: twitter.com/triallofficial
Telegram community: t.me/triallcommunity
