🪙Tokenomics
Please read the Disclaimer before you proceed! 👇🏾
Disclaimer:
Any possible or potential future Rune is not intended to be an investment. It is not designed to increase in value and should not be considered a financial asset. The primary purpose of any Rune is to provide utility within the XYZ network, enabling users to access and utilize various features and services offered by the platform as core infrastructure and tooling for bitcoin native applications and developers.
We strongly advise potential users to understand that any value is solely derived from its utility within the network. There are no guarantees or expectations of profit, return, or appreciation in value and that is not the core purpose of Torram. Any token or Run is not a security, commodity, or any other kind of financial instrument and ONLY intended to provide utility within the indexer, oracle, and api infrastucture used to secure the network, and participate in dapp development on bitcoin.
By participating in the Torram network and using the any potential Rune or future token, you acknowledge and accept the inherent risks associated with the Bitcoin blockchain technology. We encourage users to conduct thorough research and consult with legal, financial, and tax professionals before engaging with the Rune token or any related services.
To comply with global law, Bitcoin has NEVER been deemed a security by any nation, and thus, any fractional piece of bitcoin including the smallest increments of satoshis "SATS" are hereby not classified as a security by the SEC, U.S. Regulatory bodies, or other international bodies.
This disclaimer serves to clarify that the any future or potential Rune, Bitcoin inscription, or token mechanism is exclusively a utility token designed to support the functionality and operations of the Torram network.
Torram Supply
Supply: TBD
Torram Distribution
Ecosystem
This includes nodes, indexers, curators, delegators, and ecosystem partners (% TBD)
TORRAM grant programs
TORRAM accelerator / incubator
TORRAM infrastructure costs
Point system for tasks for the retail community
TORRAM core ecosystem partners - DEXs, Defi projects, Staking providers, etc
TORRAM Foundation (% TBD)
founding team
employee token grants
company operations (salaries, operating costs, legal)
Early backers, investors, advisors
Token Utility
Torram Oracle
TORR tokens are used as collateral by node operators to secure the network and incentivize honest behavior. Node operators must stake TORR tokens, which can be slashed if they provide inaccurate data.
TORR tokens are used to pay fees for accessing data feeds and other services provided by the TORRAM network
Allow TORR holders to earn rewards (currently 4.75% APY) by staking their tokens to increase the network's security.
Torram Indexer
TORR is used by Indexers (node operators) to stake and earn rewards for indexing and serving data from subgraphs.
Curators stake TORR to signal which subgraphs are valuable and should be indexed.
Delegators can earn a portion of query fees by delegating (staking) their TORR with Indexers.
Developers pay query fees in TORR to access data from subgraphs
Torram dAPI
Data providers can earn TORR tokens by selling their data feeds on the TORRAM market.
Developers pay fees in TORR tokens to access data feeds and APIs from the network
Detailed Breakdown of the Role of Tokens in the TORRAM Network
Introduction
To address the shortcomings of current oracle and indexing solutions like Chainlink and The Graph, TORRAM introduces a comprehensive token model that ensures security, incentivizes participation, and enhances overall network efficiency. This model leverages Non-Fungible Fungible Tokens (NFFTs) and quantum NFTs to create a dynamic and engaging ecosystem for decentralized node network participation.
1. Incentives and Rewards
A. Oracle Node Incentives
Staking Mechanism: Oracle nodes stake TORRAM tokens as collateral. This staking mechanism ensures that nodes are financially motivated to provide accurate data.
Rewards: Nodes earn rewards in TORRAM tokens for delivering accurate and timely data. The rewards are proportional to the amount staked and the node's historical performance.
B. Quantum NFTs for Gamification
Lottery-Style Rewards: Nodes that participate in the network are eligible for quantum NFT rewards. These NFTs can have unique traits and functionalities, making them valuable within the ecosystem.
Gamified Participation: The more a node participates and provides accurate data, the higher their chances of winning rare and valuable quantum NFTs through periodic lottery draws.
2. Security and Trust
A. Anti-Sybil Mechanisms
Staking as Security: By requiring nodes to stake tokens, TORRAM ensures that malicious actors are deterred due to the financial risk of losing their staked tokens.
Reputation System: Nodes accumulate reputation scores based on their performance. High-reputation nodes are prioritized for critical tasks and earn higher rewards.
B. Verifiable Randomness
VRF Integration: The Verifiable Random Function (VRF) ensures that the selection of nodes for data tasks is random and unbiased, preventing collusion and enhancing security.
3. Governance
A. Decentralized Governance
Token Holder Voting: Token holders can participate in governance by voting on protocol upgrades, parameter adjustments, and dispute resolutions. This ensures that the network evolves in a decentralized and democratic manner.
Proposal System: Any token holder can submit proposals for network improvements, which are then voted on by the community.
4. Data Structures and Efficiency
A. Efficient Data Management
Merkle Trees: Used for organizing and verifying large sets of data. This ensures that data integrity is maintained and allows for efficient data retrieval and verification.
Distributed Hash Tables (DHTs): Store and retrieve data across the network in a decentralized manner, ensuring high availability and redundancy.
B. Smart Contracts
Automated Processes: Smart contracts facilitate automated token transactions, staking, and reward distributions. This reduces manual intervention and ensures transparency.
Staking Contracts: Manage the staking process, ensuring that tokens are locked and released based on performance metrics and network conditions.
5. Addressing Chainlink and The Graph Shortcomings
A. Improved Security Model
Enhanced Staking Mechanisms: Unlike Chainlink, which has faced issues with node centralization and security, TORRAM uses a more robust staking mechanism to ensure decentralization and security.
VRF for Fairness: The use of VRF ensures that node selection and reward distribution are fair and transparent, addressing potential biases seen in other networks.
B. Scalability and Efficiency
Optimized Data Structures: By using Merkle trees and DHTs, TORRAM ensures that data management is efficient and scalable, overcoming the scalability issues faced by The Graph.
Layer 2 Solutions: TORRAM supports Layer 2 solutions to handle high transaction volumes, ensuring that the network remains efficient even under heavy load.
6. Use Cases for Quantum NFTs
A. Exclusive Access and Privileges
Access to Premium Data: Quantum NFTs can grant holders access to premium data feeds or advanced analytics services.
Event Participation: Holders of certain quantum NFTs can gain access to exclusive community events, governance meetings, or developer conferences.
B. Enhanced User Engagement
In-Game Rewards: In decentralized games, quantum NFTs can be used as unique in-game items or rewards, enhancing player engagement and retention.
Loyalty Programs: Quantum NFTs can be integrated into loyalty programs, offering unique benefits and rewards to active community members.
Conclusion
The TORRAM network's innovative use of tokens and quantum NFTs ensures a secure, efficient, and engaging ecosystem for decentralized oracle and indexing services. By addressing the shortcomings of existing solutions like Chainlink and The Graph, TORRAM provides a robust platform that incentivizes accurate data provision, enhances security, and fosters community-driven governance. This comprehensive approach positions TORRAM as a pivotal player in the future of decentralized technologies on the Bitcoin blockchain.
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