A “web3 operating system” called Teritori is proposing two new mechanisms to improve the tokenomics of its native token, TORI.
The first proposal is to burn 60% of all TORI fees generated from in-app activities, such as social feed interactions, NFT mints, and NFT marketplace sales. The second proposal is to use 100% of the in-app fees generated from other IBC tokens (ATOM and more coming later) to buy back TORI and burn 60% of it.
The team behind Teritori believes that these proposals will help to reduce the supply of TORI, increase demand, and create long-term value for holders. They are also planning to implement a seed round to raise funds for the team and eventually implement EVM inApp revenue to TORI 2.0 tokenomics once they will have secured enough funding for the team to not rely on these revenue streams.
The community has one week to discuss the proposals before they are put up for a vote. If the proposals are approved, they will be implemented in the Beta phase of Teritori, which is scheduled to begin by the end of May.
Teritori bills itself as a web3 operating system that is “building a resilient web3 operating system for individuals & communities.” The project is still in its early stages, but the team has already made significant progress. They have developed a number of dApps, including a social feed, an NFT marketplace, name service, Osmosis DEX interface, and a P2E game.
On Teritori’s social feed dApp, user mortim responds to the teams latest plans with:
“Let’s pump TORI again.”
