In the crypto industry, effectively incentivizing the community has always posed a significant challenge, and TON serves as a prime example of this issue. Early miners, despite making minimal contributions to ecosystem development, have emerged as the primary beneficiaries of its growth due to their substantial holdings of $TONcoin.
Sadly, this situation has overshadowed the invaluable contributions of developers and builders who have truly added value to the ecosystem.
As our team grappled with finding solutions to rectify this imbalance, we stumbled upon the BRC20 inscription concept, which offered a glimmer of hope.
Inscriptions go beyond being a mere complement to BTC technology; they embody an innovative approach to distribution. By enabling any project to embark on a small, mining-based fair launch, inscriptions introduce a fresh and unique method for fostering community growth. Inspired by the groundbreaking BRC20 inscription concept, we proudly present TBRC20 as a social experiment that harnesses the power of inscription within the TON ecosystem.
Although BRC20 utilizes gas fees to facilitate a fair launch, it falls short in fully resolving the problem of early miners disproportionately benefiting from the ecosystem without making substantial contributions.
To address this concern, TBRC introduces two innovative experiments that go beyond the BRC20 Inscription Model. These experiments not only incorporate social relationships but also differentiate between various contributor roles, ensuring a more equitable distribution of rewards and recognizing meaningful participation.
First and foremost, participation in the TBRC minting process necessitates whitelisting for all individuals. In addition to the initial 1,000 Genesis whitelist spots, new whitelists can only be activated by existing users who pay TBRC tokens for their issuance. The cost of issuance increases proportionally with the number of whitelists minted, guaranteeing that each new participant is invited by an existing user. This step not only introduces social dynamics but also kickstarts the unlocking of TBRC application value through active community engagement.
Our second innovation revolves around the delineation of contributor roles within the system, enabling diverse benefits based on the chosen options of contribution. This particular aspect of the TBRC inscription truly excites us, as it serves as a powerful incentive for meaningful participation and acknowledges the unique efforts of contributors in distinct ways.
The TBRC circulation system identifies three essential types of contributors, each playing a vital role: miners, liquidity providers, and inviters.
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Firstly, miners form the foundational pillar of the TBRC system. They are responsible for the continuous generation of TBRC inscriptions, which can be either sold for profit or used to gain invitee status. Miners invest TON as gas to obtain TBRCs, benefiting financially from the prosperity of the ecosystem. However, since miners are not considered core contributors, 50% of the inscriptions they produce are allocated to an incentive pool designed to reward the ecosystem’s core contributors.
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Secondly, liquidity providers represent the central component of the TBRC system. By supplying liquidity to the TON/TBRC pool, they assume the highest risk and contribute the most value. As a recognition of their critical role and the risks they bear, the portion of the supply generated by miners through mining incentives is entirely awarded to liquidity providers.
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Lastly, inviters, as mentioned earlier, also make substantial contributions to the ecosystem. Their efforts are acknowledged through access to the incentive pool. Miners can transition to becoming inviters by utilizing TBRCs to create whitelisted NFTs. While liquidity providers receive direct rewards, inviters are compensated with 7% of the incentives, and the earlier generation of inviters, known as predecessors, receive 3%.
This structured approach ensures a balanced and equitable distribution of rewards, incentivizing each contributor category according to their role and level of contribution within the TBRC ecosystem.
We draw inspiration from the intricate ecosystem of nature, where diverse entities engage in a symbiotic process. To better understand this concept, let’s delve into the story of our pioneering social experiment:
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Meet Bob, an enthusiastic participant in the TON ecosystem. He discovers the project, secures a whitelist spot, and pays gas to mint inscriptions, which he then sells on the market as TBRC tokens. The inscription minting process is limited to once daily, with half of Bob’s inscriptions allocated to the liquidity incentives pool, reflecting his relatively minimal contribution to the system.
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Now, let’s introduce Alice, a participant from another ecosystem intrigued by the TBRC system. However, due to time constraints, she chooses not to engage in minting inscriptions. Instead, Alice decides to contribute to the liquidity staking by purchasing TBRC tokens. As a result, she receives a portion of TBRC tokens from each of Bob’s mining outputs, acknowledging her role in providing liquidity to the system. Despite investing less time than Bob, Alice’s contributions are considered more substantial.
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Furthermore, there’s Tony, an arbitrageur driven solely by profit, whose presence enriches the experiment. Tony’s optimal strategy, whether it involves selling, holding, or pledging TBRC tokens, fluctuates with the evolution of the TBRC ecosystem. His actions reflect the dynamic and fluid nature of the system, where there is no static optimal solution as the dynamics constantly evolve.
This operational system thrives on the interconnectedness of its contributors, akin to the links in a chain.
We are now on the verge of releasing the 1,000 genesis whitelist NFTs, aiming to sow the seeds of this social experiment. If you’re interested in obtaining one of these whitelists, please visit our Twitter feed.
Finally, as the creators of this agreement, the TBRC team will benefit from the consumption of inscriptions. This fuels our commitment to diversify and expand the variables and user base within the system.
In gratitude for TonUP’s invaluable support during our formative phase, we pledge to donate 50% of the TBRC tokens used in whitelist minting to the TonUP DAO. We look forward to working hand in hand with TonUP to build an even more prosperous TON ecosystem.
