Torum is the first social network specially designed for all crypto and blockchain enthusiasts, which rewards users who interact on the platform through its native token (XTorum).
The development team released yesterday the third version of the whitepaper, here's the link: https://whitepaper.s3.us-east-2.amazonaws.com/torum-whitepaper-V3.0-EN.pdf
The project has been launched last July with the release of the social platform and is rapidly expanding in the DeFi and NFT fields. The XTM token will be listed on exchanges starting from April, the team will announce shortly on which exchanges the listing will start.
The potential of the platform is disruptive in my opinion, but of course I invite you to do your own research as these are not financial advices.
So I decided to introduce you to the ecosystem that Torum is building.
Today's article is a general introduction to the project.
Torum's mission is to form a crypto-oriented social network capable of connecting crypto-enthusiasts from all over the world and becoming the most used crypto-social network.
As for the social platform, Torum offers a solution to four problems of the crypto-social industry:
1. Information asymmetry:
Information regarding the cryptocurrency industry is not shared equally among everyone, especially newbies, leading to the rise of scams and ponzi schemes. Torum wants to become a one-stop channel for the entire crypto sector. Each member of the ecosystem can easily access a set of industry information in one place.
2. Difficulty of creating marketing exposure:
Crypto industry projects can use Torum as a new marketing channel to gain visibility and reach new users. Providing features such as advertising and sponsored posts on Torum, projects won't have no longer to rely on the expensive marketing alternatives existing on the market.
3. Segregation of the community in different social applications
Using multiple social applications like Twitter, Telegram and Discord makes it difficult for crypto communities to find information quickly. By using Torum to stay up to date, Torum users have access to information without the need to use a myriad of applications such as Facebook, Twitter and Telegram.
4. Lack of utility for tokens
Most tokens in the market rely on hype to create artificial value, tricking newcomers to leave the market once the price of the token is no longer supported by the hype.
Embracing the latest crypto market innovations such as DeFi and NFT, Torum is introducing new use cases to its native token. As the ecosystem expands, the XTM token will be the ecosystem's primary medium of exchange and can become one of the most used tokens in the crypto market. Thanks to the high usage potential of the token within the community ecosystem, XTM is able to maintain a certain potential for price stability, compared to other tokens.
In the next articles we will cover other salient features of the platform, such as:
- Migration to Binance Smart Chain (XTM was an ERC-20 token and now lands on BSC)
- Construction of an NFT marketplace
- Development of an automated market making DeFi platform on BSC (TorumFinance)
- Tokenomics (team assignment has been reduced)
Earn crypto engaging in a crypto-centric social network:
Join Torum, the first social media platform specifically built for cryptocurrency communities around the world, and earn XTM (XTorum) rewards for your daily and weekly engagement. XTM is the ERC-20 and BEP-20 utility token of Torum ecosystem and will be listed on exchanges in April or May 2021. Read Torum Whitepaper to figure out XTM token utilities and the potential of the platform: https://whitepaper.s3.us-east-2.amazonaws.com/torum-whitepaper-V3.0-EN.pdf. Sign up using my referral link and earn 75 XTM airdrop after email and phone verification: https://www.torum.com/signup?referral_code=makeitreal
