Tokenplace is excited to announce plans to provide a staking rewards program for TOK holders. This represents a new use case for TOK, which so far has been developed as a utility/exchange token and a carrier of liquidity within the trade engine.
In the landscape of digital assets today, loyalty and rewards programs are often overlooked as a major asset class. Many large companies devote major resources to giving back to the most loyal members of their community. With Tokenplace staking rewards, we see an opportunity to take the concept of user loyalty to new heights, with the help of DeFi technology.
From its inception, the Tokenplace vision has been committed to rewarding users and TOK holders. It’s a vision of the future for how tech companies should relate to their community: users should be rewarded for the value they help create. By choosing to spend their time and attention on a given platform, users themselves create the value of that company. We believe that passion, engagement, and commitment should be rewarded, not just monetized.
Staking pools allow users to be rewarded for tokens that they choose to lock up. In a sense, the staking pool is like a customer loyalty mechanism. Funds are set aside to reward loyal users and token holders. The staking pool format is an easy way to distribute user rewards.
Tokenplace earns revenue from paid subscriptions and percentages of fees through affiliate programs with both CEXs and DEXs. The majority of revenue is directed to team salaries, infrastructure, marketing, the reserve fund, the development fund. Loyalty rewards through the staking pool will represent an additional budget item.
The terms of the loyalty program pool will be determined on a quarterly or monthly basis. The rewards won’t be fixed long-term, since infrastructure, legal, and other costs are unpredictable. Certain periods may not leave as much for community rewards. Conversely, if revenue is strong in a given period, the share of the rewards pool may increase to higher levels. The full details of the mechanism for rewarding TOK holders is still in the works and approval is pending review from the legal team.
It’s an exciting time in the field of user rewards. Crypto offers a simple and effective tool to reward the community for the value they bring through their choice and participation. While other mechanisms may be added in the future, staking pools will be a key feature in the Tokenplace ecosystem, rewarding early adopters and investors.