TYCHE Evolution
Hello dear Tychers,
You’ve been waiting for news about our TGE for a long time, haven’t you?
It’s time to talk about it, but first, let’s review our journey.
Tyche’s story began in April 2022 when it was initially the idea of friends who were building on Cosmos (Validators / Developers / Marketing / Community Manager). They wanted to create what was missing on the EVMOS blockchain: a simple, effective DEX that would allow everyone to benefit from the exciting technology of EVMOS and the emerging interoperability of EVM environments within Cosmos.
By September 2022, Tyche had already evolved significantly. The name was mentioned in a group conversation for the first time, and we decided to attach NFTs to it, making these NFTs generate monthly revenues from the fees generated by the DEX.
The real period of work and reflection on the project began here when we realized that just having a DEX wasn’t enough.
We could do more, create new tools, and provide value to our NFTs.
It’s true; after all, revenue sharing with a DEX isn’t that exceptional, right?
This is when the ideas you know today came into play:
- A staking platform
- A DEX
- An NFT lending protocol
- A marketplace with a liquidation zone.
The idea was to interconnect each application to give them a common purpose:
- The staking platform serves to distribute rewards to users.
- The DEX serves to create the liquidity needed for our NFT lending platform (with pools containing dual assets and solo asset — a form of lending in itself!).
- The marketplace with a liquidation zone linked to our lending platform.
In essence, everything revolves around this NFT lending platform.
Now, let’s get into the part you’re familiar with.
In April 2023, we announced a new twist, a change in our project. We realized that the Cosmos ecosystem was not large enough to accommodate this kind of project, at least not in its current state. So, it was necessary for us to change our approach.
We had great products that worked well together with an All-in-One approach, but for them to be used, we needed a significant user base.
For several months, we conducted research on LayerZero, Layer2s, and realized that this was the right direction. The adventure began, and we split our NFT sale into two parts: the EVMOS part and the Zksync part, with the idea that EVMOS NFTs could easily be bridged to Zksync.
The magic happened: EVMOS NFT holders received their NFTs on Zksync through an airdrop a few weeks ago!
This is where the adventure really begins; in terms of approach, community, Tyche has undergone significant changes.
This phase was intense, with a lot happening at once. We’re being contacted by CEXs, launchpads, and VCs interested in joining our universe or, at least, seeing real potential.
So, we figured that we need to change our approach, adapt, and evolve.
What should we do
Now we’ve arrived in July 2023, almost three months ago, and it feels like yesterday.
This is the period where we thought, “We need to grow, we need people — developers, community managers, marketing teams, everything.”
We started creating our PitchDeck, designing visual assets, defining Tyche’s persona, and creating our Whitepaper 2.0. We’re moving forward.
At this point, we decided to reach out to CEXs, Launchpads, with no expectations, without imagining what they could offer us. Our goal was to hold our TGE in September.
We met these people, talked for hours, discussed our product, community, plans for the project’s future.
We discussed the financial runway, the funds needed to finalize our product development, estimated revenues we could generate.
In other words, we started a serious analysis of every aspect of the project: Finance, Development, Marketing, Community, Tokenomics — everything.
It’s been a time of learning and investment for us. We never imagined that our project would generate so much interest, or that we would create such a community.
That’s the beauty of the story, when we’re building with a community like ours, isn’t it?
You matter more than anything, and you represent the value of our project.
This lead to the new pivot we’ve taken today.
We’re professionalizing, moving from a simple DEX project on EVMOS with no pretensions to where we are now. The future looks beautiful, but there’s still a lot of work ahead.
The TYCHE Foundation will be created, and it will be registered in Europe.
Its objective will be to support the development of the TYCHE project without being a profit center (This part is very important for us).
The TYCHE Foundation will conduct a pre-seed fundraising to obtain enough funds to support development for several years without needing to spend a single $TYCHE.
TYCHE Protocol will become the DAO we’ve always envisioned.
As with all projects of this type, blockchain will be the decision-making body, and you, dear holders, will be decision-makers in our future deployments, incentives, partnership approvals, and the life of the project.
So, what does this mean for our TGE today? It means a lot.
First, if you’ve read the previous sections, you understand that it won’t happen in September, and not in October either.
We need time to legally establish the TYCHE Foundation, and we will also enter a project incubator (you’ll receive information about which one soon).
The idea is to stress-test our project design, take a critical look at what we’re building, improve our marketing, and find new communities.
A tremendous amount of work awaits us.
This decision was difficult to make because it means we won’t be delivering what we promised you now.
But, like the NFTs on Evmos, like our staking platform, we’re doing this because we know it’s worth it.
The TGE will happen but at a later date, which we don’t know yet.
However, many things will happen during this period:
- Building the community with contests and educational threads.
- Building the TYCHE universe with the presentation of SocialFi layer, PerpDEX layer, and much more.
- Testnet of our NFT lending platform.
- And many other things.
In any case, if we made this choice, it’s for you and for us.
Tyche isn’t just a token, Tyche is an ecosystem that hopes to thrive for years to come and build even more things to serve our community and our ecosystem’s interests.
In summary, what does this mean?
- We are entering a project incubator.
- We will launch community campaigns to help you and new comers to understand the projects (there will be prizes to win!).
- We will launch the testnet of our applications (NFT Lending / Dex V2).
- We will launch the mainnet and the TGE simultaneously!
Thank you for trusting us.
We’re pulling all the strings to ensure that TYCHE becomes part of blockchain history.
Have a great day, dear Tychers !
