Introduction to $TNS token
Rationale and why do we launch a token?
We are inspired from the Ethereum Name Service (ENS) Team and we strongly believe in the importance of the web3 domains. Similar to ENS, TNS is an important step in further decentralizing governance of the TNS protocol. It will empower community members to direct its development, community treasury, and technical parameters. Eventually, this will help TNS to transition into becoming a DAO. In order to be one of Terra major infrastructures, TNS has to become the decentralized entity. Also, most of our integration partners are big believers in decentralization. They will not pursue an integration with those centralized entities. We wholeheartedly share this exact view and we want to make sure that all future integrations run as smoothly as possible.
Problem that we are addressing and our vision
Current problem is that a blockchain address is long and pretty impossible to remember. Since Cosmos chains are all independent of each other, users will need to have many available addresses to send/receive funds. We want to find a solution to improve the users’ experience if they only got ONE address that fits all (Terra, Cosmos, Osmosis, Secret Network, Crypto.com, Persistence, Injective etc) Thus, we are building .UST to tackle this problem.
Our vision is that we want the .UST domain to be a gold standard for ALL IBC chains.
Here is the map of zones within the IBC ecosystem.
https://mapofzones.com/?testnet=false&period=24&tableOrderBy=totalIbcTxs&tableOrderSort=desc
TNS Token
The Terra Name Service Token (TNS) is both a governance token and a revenue-sharing token. Currently, it must be staked to vote for making new governance proposals.
TNS stakers will earn a portion of the service provider fees as well as the TNS rewards generated from staking rewards incentives.
Tokenomics
TNS Token Supply
There are planned to be a total of 100,000,000 TNS tokens to be distributed over at least 2 years. Beyond that, there will be no more new TNS tokens introduced to the supply.
Cumulative Distribution table
Genesis Token Distribution
A total of 47M TNS tokens are released at the genesis of TNS Protocol.
The initial distribution of TNS is given to:
- Community Treasury: 10M (21.3%) tokens will be reserved for the TNS Protocol community fund
- Selected Integration: 2M (4.3%) tokens will be reserved for selected integration
- Future Integration: 25M (53.2%) tokens will be reserved for future integration
- Airdrops: 8.33M (17.7%) tokens will be airdropped to eligible participants
- External Contributors: 1M (2.1%) tokens will be reserved for external contributors that bring value to the TNS ecosystem included but not limited to: influencers, marketers, content creators, translators, and active discord/telegram members. This decision will be made from the team at the early phase, before transition into the DAO later on.
- Marketing: 0.67M (1.4%) tokens will be reserved for social media marketing campaigns e.g. Twitter, Reddit, Telegram etc.
Rationale: We strongly believe integration is a crucial factor in the success of TNS Protocol. We have set aside a sizable portion (53.2% of the genesis and 27% of the total supply) for our integration partners not only to give incentives, but also to provide them tech support.
NOTE: ALL of our integration partners’ tokens will be linearly vested for 2 years.
For example, if a new partner joins in Feb 2022, their tokens will be linearly vested until March 2024.
Final Token Distribution
Allocation breakdown
Further TNS tokens are set to be released over a period of at least 2 years, increasing total supply until it reaches 100M. The final distribution structure will be:
- Community Treasury and Integration (37%)
DAO is encouraged to allocate Treasury funds towards community focused initiatives i.e. grants, hackathons, meetups. Short term, most of the funds are used for integration development and incentives. Our primary focus will be the Terra ecosystem at first. Second, we will expand to the Cosmos ecosystem. Finally, we aim to integrate to ALL IBC enabled chains.
Integrating is a huge part towards the success of the protocol. This is why we have allocated the largest amount of funds used. We will focus on the key ecosystem partners first including Terra Station, Terra Money, Keplr, Xdefi, Coin98, Ape Board, Extraterrestrial Finder. We want to make the integration process as easy and smooth as possible while also providing engineering resources to support the development team.
2. Airdrops (25%)
Our goal is to fully decentralized the TNS Protocol. Working towards this, we believe airdropping tokens to various groups of users is the way to achieve this goal.
Filtering process will be announced on 23 December 2021 (12:00:00PM UTC)
3. Team (20%):
12% for our current team
7.5% for the future full-time team members
0.5% for Launch advisors
We believe in the future of web3 and encourage anyone to come and contribute to the growth of TNS.
4. Spreading awareness (10%)
7% — external contributors
3% — marketing
We set aside this fund to make certain that our ecosystem will achieve long term sustainable growth. Spreading awareness and building community is crucial towards a growth of any protocol. We are welcoming anyone that can bring value to TNS or want to help us out spreading awareness of the project such as but not limited too: influencers, marketers, visual artists, meme creators, content creators, translators and active discord members. Also we have set aside a small portion for marketing purposes.
5. Incentives (8%)
Liquidity incentives (5%)
To ensure that there are enough liquidity to exchange $TNS-UST pairs and also rewards $TNS stakers.
Staking rewards (3%)
To encourage token holders to participate for governance
Inflation
Inflation rate of TNS tokens is designed to gradually decrease every year until it reaches 100M at the end of year 2. After the end of year 2, no more TNS tokens will be minted through inflation.
Circulating $TNS supply over 2 year (in million)
Website: tns.money
Twitter: https://twitter.com/tns_money
Telegram: https://t.me/tnsmoney
