What is the Tectonic TONIC Token
Rancakmedia.com – Tectonic token TONIC is a decentralized cross-chain algorithmic money market based on the Cronos blockchain, see in the following article.
Tectonics allows users to lend and borrow crypto assets, at appropriate interest rates which are calculated algorithmically based on the supply and demand for those assets.
Support the launch of Tectonics Mainnet by getting your assets ready to be supplied and/or borrowed on Tectonics as soon as we go live.
If this is your first time reading about Tectonics, you can find out more about it in our Litepaper or Gitbook documentation.
Tectonic TONIC Token Launch Details
After months of development and testing, we are excited to officially launch Tectonics Mainnet as a public service.
On December 23, 2021, Mainnet Tectonics will go live. Users can expect Mainnet to go live between 06:00–09:00 UTC.
Assembling the Mainnet from Alpha
If you are now part of the Tectonic Alpha Launch, you will not need to change your funds as the protocol will automatically migrate from Alpha to Mainnet.
In addition, we will soon be announcing the addresses eligible for the Alpha Tectonics incentive tester award.
Available assets to lend and borrow USDC, USDT, DAI, ETH, WBTC, CRO
Tectonic TONIC Token Emission Rewards
Once the Mainnet Tectonics becomes active, the TONIC emission will begin. Suppliers and borrowers will be encouraged with TONIC awards.
A total of 160 Trillion TONIC (32 percent of total supply) is allocated to liquidity mining incentives, spread evenly between suppliers and borrowers.
In the first year, the incentive emission will be 5.33 trillion TONIC per month and will be reduced to 2 trillion TONIC per month by the 60th month, when it will be completely eliminated.
Therefore, this allocation favors early adopters of Tectonics, as 40 percent of TONIC's incentives will be released in the first year. In the first phase of the launch, incentives will be distributed proportionally according to the weight of each market:
The stability of the tectonic protocol impacts the emissions and allocations associated with mining liquidity. How to buy crypto tetonic TONIC.
Tectonic TONIC Token Tester
For Alpha users, you will need to provide a certain amount of funds at the Mainnet launch to enable the TONIC emission. Otherwise, you will not be eligible for the TONIC award.
We recommend providing new funds (any amount) or taking inventory from your current account and depositing it again. Minimizing leverage of stablecoin farming on first launch
In the first phase of the mainnet launch, we will block provisioning and lending of the same assets. This means, for example, if you have donated USDC, you will not be able to use USDC as collateral to borrow additional USDC.
We put this safeguard in place because we were aware of the fact that during the first phase of a money market protocol, returns can grow very high and usually favor whales farming leveraged stablecoins.
Leveraged stablecoin farming is the process of supplying and lending the same assets, often stablecoins, in a continuous loop.
These limits are put in place to ensure that our incentives are spread across the wider Cronos user base, benefiting all users using the Tectonics platform.
Tectonic TONIC Token Launch
Tectonic mainnet launched right before the TONIC token went live. Our fair launch will take place at DEX VVS Finance, with whom we have established a partnership.
The price of the TONIC token is expected to be very volatile immediately after launch, as is the case with most DEX launches.
We strongly urge users not to acquire TONIC immediately after launch and wait for the TONIC token price to stabilize unless you are completely comfortable with highly volatile prices and understand the dangers of doing so.
Conclusion:
Tectonics is a decentralized cross-chain algorithmic money market based on the Cronos blockchain. Tectonics allows users to lend and borrow crypto assets, at a suitable interest rate which is calculated algorithmically based on the supply and demand for assets.
The mainnet will go live on December 23, 2021. The Tectonic mainnet was launched right before the TONIC token went live.
We will block provisioning and lending of equal assets in the first phase of the mainnet launch. These limits are put in place to ensure that incentives are spread across the wider Cronos user base.
