Whitepaper
Based on The Open Network
500,000,000
Introduction
The goal of the Things project is to create a fair and sustainable ecosystem where every participant, regardless of their mining capacity or amount of funds, can make a meaningful contribution and receive a fair reward for it. The project aims for opportunities on equal terms, fostering a community and ecosystem where transparency, collaboration, and innovation are valued. A critical component of our project is the tokenization of assets, offering a new perspective on how assets can be managed and transacted within the blockchain environment, thus reshaping cryptocurrency mining and its role in the future of digital economics.
The Two-Token System
Things is based on a unique "two-token" or "two-tier" system, where each of the tokens has its own capabilities and properties, and can be used to achieve different goals.
The Things Primary Token ($ThingsPT), obtained through mining, not only serves as a confirmation of the contribution to the network but can also be used to vote on key project issues, receive exclusive benefits, and as a long-term investment with a direct impact on the asset's value. When $ThingsPT is converted into Things ($Things) through a special smart contract, the $ThingsPT tokens are burned by the contract, thus forfeiting their voting rights and other associated benefits, providing flexibility and liquidity while protecting the project's economy from potential inflation and speculative actions in the early stages of development.
Mining in the Things Ecosystem
The Things ecosystem employs a mining approach based on the Proof of Work (PoW) algorithm, ensuring a fair distribution of rewards. This method emphasizes that anyone can participate in mining activities, even beginners, through a special program designed to simplify the mining process. This inclusivity ensures that every participant, regardless of technical expertise or financial resources, can contribute to and benefit from the ecosystem.
Tokenization Assets Tool (TAT)
As part of our commitment to creating a fair and sustainable ecosystem, we are introducing the Tokenization Assets Tool (TAT), set to be implemented in the fourth quarter of 2024. TAT is designed to provide a digital framework for simpler assets such as electronics, vehicles, and personal items within the TON blockchain. This tool will allow users to tokenize these assets, facilitating easy management and transaction within the blockchain.
Decentralized Autonomous Organization (DAO) and Voting System
The Things project incorporates a Decentralized Autonomous Organization (DAO) where token holders can participate in decision-making processes through a transparent voting system using the $ThingsPT tokens. This system ensures that no decision within the project is made without the participation and approval of the ecosystem's members, empowering the community by giving them a direct say in major project decisions, including protocol updates and resource allocation.
The goal of the Things project is to create a fair and sustainable ecosystem where every participant, regardless of their mining capacity or amount of funds, can make a meaningful contribution and receive a fair reward for it. The project aims for opportunities on equal terms, fostering a community and ecosystem where transparency, collaboration, and innovation are valued. A critical component of our project is the tokenization of assets, offering a new perspective on how assets can be managed and transacted within the blockchain environment, thus reshaping cryptocurrency mining and its role in the future of digital economics.
The Two-Token System
Things is based on a unique "two-token" or "two-tier" system, where each of the tokens has its own capabilities and properties, and can be used to achieve different goals.
The Things Primary Token ($ThingsPT), obtained through mining, not only serves as a confirmation of the contribution to the network but can also be used to vote on key project issues, receive exclusive benefits, and as a long-term investment with a direct impact on the asset's value. When $ThingsPT is converted into Things ($Things) through a special smart contract, the $ThingsPT tokens are burned by the contract, thus forfeiting their voting rights and other associated benefits, providing flexibility and liquidity while protecting the project's economy from potential inflation and speculative actions in the early stages of development.
Mining in the Things Ecosystem
The Things ecosystem employs a mining approach based on the Proof of Work (PoW) algorithm, ensuring a fair distribution of rewards. This method emphasizes that anyone can participate in mining activities, even beginners, through a special program designed to simplify the mining process. This inclusivity ensures that every participant, regardless of technical expertise or financial resources, can contribute to and benefit from the ecosystem.
Tokenization Assets Tool (TAT)
As part of our commitment to creating a fair and sustainable ecosystem, we are introducing the Tokenization Assets Tool (TAT), set to be implemented in the fourth quarter of 2024. TAT is designed to provide a digital framework for simpler assets such as electronics, vehicles, and personal items within the TON blockchain. This tool will allow users to tokenize these assets, facilitating easy management and transaction within the blockchain.
Decentralized Autonomous Organization (DAO) and Voting System
The Things project incorporates a Decentralized Autonomous Organization (DAO) where token holders can participate in decision-making processes through a transparent voting system using the $ThingsPT tokens. This system ensures that no decision within the project is made without the participation and approval of the ecosystem's members, empowering the community by giving them a direct say in major project decisions, including protocol updates and resource allocation.
hey@thingstoken.io
