TOKEN UTILITY AND TOKENOMICS
The Importance Of Tokenomics
Tokenomics (a combination of tokens and economics) is one of the most crucial aspects of any project.
tomi’s tokenomics were constructed to ensure the long-term self-sustainability and the security and longevity of the project and its ecosystem and to provide compensation and rewards substantial enough to attract mass adoption of developers, and even more importantly, of the community and users. The attraction of developers and users is essential for tomi’s project as tomi mainly develops an infrastructure platform, but the actual use cases in the platform will be designed by the developers, who will build the websites and applications on the platform, and the users, who will obviously be the developers’ demand side.
The Token’s Utility
The $TOMI token plays significant roles in the tomiNet’s ecosystem, such as:
– DAO voting & delegation (for the tomiDAO’s members and the ArtDAO).
– Rewarding network contributors via tomiDAO’s treasury.
– Development fund (an automatically generated fund controlled by the tomiDAO and used solely for incentivizing developments on the platform).
– Domains purchases on the tomiNet.
– Cloud services payment for the tomiNet.
– Payment on products and services in the tomiNet.
– Payment of fees related to the tomiNet and the tomi ecosystem.
– More utilities (including staking, airdrops, burning mechanism, etc.) will be determined by the tomiDAO.
tomi didn’t undergo an ICO and is not based on a PoS/PoW mechanism, so how do the tokens enter circulation? In 2 ways.
The first one is through tomi’s mechanism called proof of mint (PoM), which means that for every Pioneer minted on the network, 36,080 tokens will be added to the supply, or 65,000 at the minting event (if you want to learn about the pioneer circulation, click here).
Upon purchase of Pioneer club memberships, $TOMI tokens will be split as specified below:
at the initial minting event, ~1,500 Pioneer club memberships will be minted and sold, and $TOMI tokens will be minted as follows:
18,000 $TOMI tokens – issued to the Pioneer’s purchaser,
8,000 $TOMI tokens – marketing treasury.
39,000 $TOMI tokens – issued to the founders & core team.
after the initial minting event, a daily auction on a pre-determined number of Pioneer club memberships will be held, and for each membership $TOMI tokens will be minted as follows:
18,000 $TOMI tokens – issued to the Pioneer’s purchaser,
1,080 $TOMI tokens – issued to the artDAO contributors and divided between the art owner, voters and committee.
17,000 $TOMI tokens – issued to the founders & core team.
The daily auction’s pre-determined Pioneer minting amount goes as follows:
First-year – 3 pioneers per day
Second year – 7 pioneers per day
Third year- 10 pioneers per day
Fourth-year forward- 1 pioneer per day
At the beginning of the fourth year, the token distribution will be as followed:
Additional tokens enter circulation at the additional minting:
- $TOMI in an amount equal to US$10M will be minted once a year and issued to a wallet designated for the development fund – this is important in order to incentivize developers and contributors to contribute to the development of applications on the platform (since, at least in the beginning, developments on the platform may be less rewarding than on the WWW).
- A fund of $TOMI 10,000,000 will be minted for the purpose of marketing through airdrops, community activities, etc.
- $TOMI 150,000,000 will be minted and issued to the founders and seed investors, with a five-year vesting mechanism.
taking all the data into consideration, the token inflation & distribution growth will look as follows:
As a decentralized project, tomi’s community (through the tomiDAO) will be able to change the tokenomics with respect to any tokens that have yet to be issued.
Please see our whitepaper for additional information regarding the $TOMI token tokenomics, and feel free to approach us with questions on our social media channels.
