4. Smart contracts
Let's take a deep dive into the multiple smart contracts the token uses to compose the way to incentivize all the participants of our ecosystem.
The $TURIN token contract is an ERC20-based Smart Contract with the classical parameters fixed in the address (TBA). It has a fixed supply, and tokens will be minted and liquid after the final date in the Tutellus Launchpad.
We'll have two implementations of the token:
- A physical one, ready to interact with the dAPP.
- A virtual one, ready to be used in the Web2 products. As some of these products are not Web3 native products (like TurinWallet, an APP you download from the Apple/Google store), we'll implement a second layer where you see the tokens you earn in a virtual way. Your user profile will be linked to your EVM address to interact with the real tokens in the dAPP.
The $TURIN staking contract is the most important one from a business perspective because it defines the loyalty levels and the maximum discounts a user can apply over the product fees described in chapter 3.
The farming contract distributes the vault incentives in order to provide liquidity to the pool. The pair will be against WBTC, to be fully aligned with our mission. As we actually are leaving a bear run period, the strength of Bitcoin price growth in the following months will help the $TURIN token to capture more value, regardless of the natural company business.
The minimum APR projected will be approx. 50% in the 6th month and stable around 20-30% during the first 26 months. For more info, visit Yield Farming.
The rewards vault will incentivize users for their actions, such as:
- TurinWallet: $5 per new contact who charges more than 100€ in the wallet.
- TurinPool: $10 per new contact that trades more than 1.000€ in any pool.
- TurinPay: $100 per new merchant that trades more than 5.000€ in bitcoin.
- TurinPool for companies: $1.000 per new company listed in the protocol.
We hope to develop much more use cases during the following months. The rewards vault will hold $TURIN tokens for the upcoming years. It's a long-term bid. So the more value the token captures, the more time the vault will hold tokens because the fewer tokens will need to distribute between holders.