What is the Treasure Chess Token ($TCT)?
$TCT Tokenomic usecase
$TCT functions as the utility, reward and incentive token that powers the entire onchain chess ecosystem.
The token empowers players be enabling them to wager stakes against opponents, pay tournament entry fees and earn redeemable prizes including minting collectable NFTs.
TOKENOMIC MODEL OVERVIEW
MAX SUPPLY 10 Billion $TCT
MAX SUPPLY 10 Billion $TCT
MAX SUPPLY 10 Billion $TCT
The maximum supply of $TCT, is capped at 10bn tokens. This fixed supply helps in creating a sense of scarcity, potentially increasing the token's value over time. This provides a clear economic model for players and investors, fostering trust and stability within the Treasure Chess® ecosystem.
DEFLATIONARY
MAX SUPPLY 10 Billion $TCT
MAX SUPPLY 10 Billion $TCT
The $TCT code allows for a burn functionality during particular events such as when there is a stale mate, lost connection or even during the minting process of in-game NFTs. This burn mechanism ensures that $TCT will only ever become more rare over time while stakes in the game rise with increased user demand.
PEER 2 PEER MARKET PLACE
MAX SUPPLY 10 Billion $TCT
PEER 2 PEER MARKET PLACE
Treasure Chess operates as a peer-to-peer gamified marketplace where players can engage directly to buy, sell, or trade supported in-game digital assets. This setup not only incentivizes participation through competitive play but also establishes a vibrant economy that is community based & skill led.
Predicted audit ratings
Transparency
Public Ledger: Like most cryptocurrencies, $TCT's transactions are recorded on a public blockchain. This means every transaction involving $TCT is visible to anyone who wants to inspect the ledger. The historical data of transactions, including when they occurred and how many tokens were transferred, is openly accessible. This transparency helps in verifying the integrity of transactions and ensures that all parties have the same view of the token's history.
Tokenomics Clarity: Transparency in tokenomics for $TCT would involve clear information about how the tokens are created, distributed, and managed. Investors and users can see the total supply, the distribution schedule, and how tokens are used within the ecosystem, which fosters trust and informed decision-making.
Trustless
Decentralized Network: $TCT operates on a blockchain where no single entity controls the network. Instead, a consensus mechanism (like Proof of Stake) is used where multiple parties must agree on the state of the ledger. This means users do not need to trust a central authority; trust is placed in the network's protocol and the cryptographic security ensuring that transactions are valid and immutable once confirmed.
Smart Contracts: If $TCT uses smart contracts for any part of its functionality, these contracts automate transactions and agreements based on code that runs exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference. This reduces the need for trust in human intermediaries.
Immutable
Blockchain Security: Once data is written to the blockchain for $TCT, it cannot be altered. Each block is cryptographically linked to the previous one, and changing any information would require altering all subsequent blocks and consensus from the majority of the network, which is practically infeasible due to the computational power required.
Historical Integrity: The immutability ensures that once a $TCT transaction is confirmed, it is permanently recorded. This historical integrity is crucial for maintaining trust in the token's records over time, preventing double-spending, and ensuring that past transactions remain verifiable.