- TomoChain has announced the launch of TomoMasterDAO and an IDO
- The initial DEX offering of tDAO tokens is on Friday
- For the tDAO project, TomoChain has allocated more than a couple of million dollars
TomoChain is a scalable blockchain that is powered by the eco-friendly Proof-of-Stake (PoS) consensus. The blockchain is used commercially by several corporations globally. The platform is designed for entrepreneurs, enterprises, and firms to create high-performance, feature-rich blockchain projects. Notably, the network better understands the vision, mission, and plans of its users. Ultimately, the network aims to develop a highly innovative product and technology to create an ideal platform for blockchain games. Recently, it was announced that the blockchain is about to be launched on LuaStarter. Moreover, the initial decentralized exchange (DEX) offering (IDO) of TomoMasterDAO is expected on Friday.
TomoChain allocated $2 million for TomoMasterDAO
TomoChain has recently tweeted to announce the launch of its TomoMasterDAO. The team behind the blockchain was hard at work to create a product that benefits users and projects that seek to create on the network. It is revealed that the decentralized autonomous organization is taking a new approach to blockchain governance focusing on user engagement to develop new technology in the ecosystem.
With the TomoMasterDAO, the blockchain will be able to move beyond speculation. The project will provide helping hands for up-and-coming projects that require assistance. Notably, the ecosystem has been allotted more than $2 million for the ecosystem.
Bounty program on TomoMasterDAO
The announcement has revealed that a community-driven bounties program will also be implemented on the project. TomoChain users will be able to propose bounties for technologies and would like to use tDAO during such grant rounds.
The tDAO tokens will act as the foundation of the TomoMasterDAO project. The total supply of the tokens is 1,00,00,000 tDAO. Indeed, on LuaStarter, the multi-chain IDO platform on the LuaSwap, 4,000,000 tDAO tokens will be available at the launch of the IDO.
How will tDAO tokens be used?
According to a press release published by GlobeNewsWire, the top token model includes a community governance treasury. Indeed, the tokens will be used to supplement funds for projects, pay additional rewards, yield farming incentives and funds for community elected Board members. Interestingly, the community treasury funds allocated for each year are governed by community members via voting on proposals. We can conclude that the TomoMasterDAO project takes a first community-first approach to growing the TomoChain blockchain ecosystem.
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