During the last year, we continuously analyzed our new token economics.
The token economics was based on two principles:
- TONE is the network fuel for making and validating transactions on the TrustChain.
- Half of the TONE paid by customers gets expired, and the other half is shared amongst masternodes.
Sharing the revenue with masternode operators is common in decentralized systems, so this is the part we don't plan to modify. However, we came to the idea that there could be better use for the - currently - expired tokens to build a more engaging token economics.
We know, that the role of a supporting community around a blockchain project is important.
Several of our projects and partnerships came from supporters from our community. People, who started following us, and then, they reached out representing their company to cooperate with TE-FOOD. This shows that having a large and committed community increases our business opportunities.
While TE-FOOD is currently a purely B2B company, selling its products and services to businesses and governments, this might change in the future. In such case, if TE-FOOD starts a B2C oriented product, the community supporters become even more important.
The change we implement now is the following:
- 50% of TONE tokens used to send operations to the TrustChain will be rewarded to masternodes for securing the network.
- 50% of TONE tokens will be allocated to a newly created Community Engagement Pool.
The goal of the Community Engagement Pool is to reach out to blockchain enthusiasts, and spread the word about TE-FOOD's goals and achievements. It will be also used for initiatives to engage with our community to participate in our efforts to improve the utilization of the TrustChain.
We believe this update will both increase the supporter community of TE-FOOD, as well as improve the cooperation between the community and the project.