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5. Tokenomics

A disruptive token issuing model optimized through the capture value in the long term.

5.1. Main innovations.

Most of the projects generate a tokenomics model that just looks like copied and pasted. They are similar: same distribution, same issuing, and you realize that the same people and lawyers were working on their whitepapers.
In TurinLabs, we cannot do the same shit. We need to innovate and test new models to generate value for the token and holders, and after two years of developing products we now present a tokenomics model really interesting, with the next innovations:
  • We will make just one public sale through the Tutellus Launchpad. There won't be any more ICOs or private sales to anyone. Never.
  • We introduce a new term to sale part of the tokens: PSDA (Public Sale Daily Auction): a smart contract will issue every day at the same hour/block a new bundle of $TURIN tokens, being able to be bought only along these 24 hours. Tokens that are not sold will be burnt. We'll detail it later.
  • We create a small token supply, just 21 million (God bless Satoshi!), and decreasing because of the potential burning rate of not sold tokens in the PSDA.
  • We are not worried about the low marketcap the full project has in the preLaunch stage ($2,1MM): it's really cheap, but it is designed to capture value quickly. It approaches a none pre-mined project: well, we know we are in a PoS network and there are of course token allocations, but from a perspective that most of the tokens will be issued in a few quarters and there won't be any stakeholders benefiting from the early stage, it's a very healthy project. It will be impossible, for example, to generate a rug pull.

5.2. Distribution

Community always first. Company and core team, the last ones
Launchpad
4.250.000
20%
PSDA
6,250,000
30%
Team
3,150,000
15%
Treasury
3,150,000
15%
Rewards
1,050,000
5%
Incentives
3,150,000
15%
Total
21,000,000
100%

5.3. Progressive token release

First to get, first to earn more. Launchpad investors, the first ones.
Launchpad
354,167
-1
11
Fixed
PDSA
173,611
12
48
Fixed
Team
262,500
6
18
Fixed
Treasury
65,625
0
48
Progressive
Rewards
aprox. 10,000
0
until top
Progressive
Incentives
87,500
0
36
By interaction
All tokens distributed per month are really distributed per block, so users can claim them at any time from the app.
Token release during 48 months

5.4. PSDA

A new and progressively way to capitalize the protocol and the company.
The Public Sale Daily Auction is a new concept to issue tokens with fair conditions for everyone, avoiding some very uncomfortable aspects of big sales:
  • Big investors have always benefited from higher discounts or better conditions without public visibility.
  • The moment of issuing is always affected by the market conditions: in bear or lateral markets, big sales don't happen.
  • The main beneficiary of a big sale is always the company, never the protocol or the community. It's fine, and there's a company (TurinLabs) behind the $TURIN token, but what about if we could make things different?
So, what's the TurinLabs PSDA?

It's a smart contract that generates a daily auction of 5.800 tokens, everyday and for 3 years, so investors can bid for these tokens in exchange for USDT. The first investor gets the auction. If no investors win the auction in this period, all 5.800 tokens get burnt.

There are a lot of advantages around the PSDA:
  • There's no slippage, so for "big" quantities, you can go to the PSDA contract instead of the liquidity pool.
  • There's no option to take more or fewer tokens: just 4.900 each day and every day. This is the way.
  • Supply will always be less than 21 million due to some auctions could be empty. If all auctions were sold it would also be a very good scenario for the protocol. More on this in the next point.
  • No pump&down or rug pull strategies are possible if the token is distributed progressively and there's no vault with most of the assets.
  • Turin Labs can use the funds received (USDT) to buy $TURIN tokens to the pool, to buy WBTC, to farm or invest in the company. But surely it can help to pump the token price.
  • This whole strategy drives the $TURIN token to empower the community and the token release over time, staying it decentralized and in community hands at +76% in 48 months (in the worst scenario, where the Team and Treasury hold all their tokens);
In the worst scenario, most of the tokens (+70%) will be distributed in the community in less than 20 months.

5.5. Yield farming

Liquidity of the $TURIN token will be provided by a WBTC-TURIN pool in Sushiswap. Investors from Launchpad will be able to add liquidity from the TGE at the end of the IDO, because of the token release of the first 30 days.
First 60 days will be the most profitable ones, assuring a minimum APR of 30% at the end of the first year. All incentives will go to the farming contract; the staking contract will provide benefits about access to lower product fees, while the farming contract incentives liquidity providing. We also assume, based on historical data of other tokens that around 60% of tokens will be blocked in staking contracts (because they will be used as a method to pay lower fees).
Minimun APR in the farming contract, with incentives actives during first 24 months