Theta TDROP - What is it? When does it occur?
If you are new to to Theta here is a quick recap, if you are a seasoned veteran skip to the next paragraph. Theta - a platform built around peer-to-peer (P2P) bandwidth sharing for video streaming, e-gaming, which is based upon the Theta Token, which is used for blockchain Governance. The Theta Co-founder comes from YouTube (yeah that tiny little Video platform) Theta already has a handful of US Patents - 11,153,358 - Oct. '21, №17/224,109 (“THETA-1005”), №17/218,245 (“THETA-1003”) in June '21 DRM for NFT, 10,979,467 in April '21, 10,771,524 in Sept '20. Most if not all the patents address Content Delivery Network(s) (CDN) short comings. By its design tenants of Guardian Nodes, Edge Cachers and Enterprise Validators. The network transactions have good speed while compared to other blue chip Crypto tokens... 1000 Transactions / minute vs Bitcoin 7 / minute / Ethereum 50 / Minute. Which would you select? The other Theta token is TFUEL - The commerce token for the Theta Blockchain and the gas fees are ultra low. So a network that is aids the internet
What is TDROP? - it is another native Theta token built on Theta blockchain that rewards NFT liquidity mining. While providing decentralized governance via TDROP for staking, and rewards Theta validators, guardians and Elite Edge node operators. TDROP is designed to work together with THETA and TFUEL tokens to incentivize on chain transactions volumes and blockchain security. So it really have two roles - 1st being the governance token for ThetaDrop and secondly governance token for NFT Marketplace.
TDROP is a governance token for ThetaDrop. But is it? It's a Dapp built on top of the Theta blockchain enabling the Theta NFT Marketplace. And TDROP is part of the Theta Ecosystem 2022 plan.
How are TDROPs earned? These tokens can be earned by users when they make a primary or secondary purchase using TFUEL on ThetaDrop NFT Marketplace or through a 3rd-party NFT Dapp built on the NFT marketplace smart contract.
What are the uses of TDROP? being a TNT-20 token it is a coin used to incentivize purchases on ThetaDrop NFT Marketplaces. Recall, Theta NFT's have built in DRM (Digital Rights Management) its not an after thought add-on subjecting you to higher levels of security risks (see №17/218,245 (“THETA-1003”) in June '21 DRM for NFT). Most of the Theta NFT's can be swapped / sold at ThetaSwap. TDROP tokens can also be staked to provide voting rights to ThetaDrop
When? The target launch for TDROP is February 1, 2022. This will take place in a phased approach. For example:
- The first drop will take place on Feb 1. '22 and be based upon what you have staked prior to Feb. '22 (Keep your Theta staked) - think Airdrop!
- The second drop will take place and be earned over following 18-months (Stay the course and keep Theta staked)
What about TDROP Supply? As with all things Theta there are finite quantities, TDROP will be limited to twenty billion (20B) and will be released over a phased approach starting in Feb. 2022 which keeps the market from being flooded
What about TDROP token allocations:
- 30% — Earned by NFT Liquidity Mining on ThetaDrop platform (4-year period)
- 20% — TDROP staking rewards for decentralized governance (4-year period)
- 20% — TDROP for THETA validators and guardians including delegated stakers (18-month vesting, 1/6th per quarter) - I assume most Theta stakers are in this allocation pool
- 20% — Theta Labs dev team (18-month vesting, 1/6th per quarter)
- 10% — Reserve for Theta marketing, advisors, partners (not vested)
Can't I just wait and buy some TDROP? No public sale of TDROP are planned
Why you might want some TDROP? I assume you read the above contents and realize this is the third Theta token and it plays a critical role in growing NFT space. Do you want to miss out of this opportunity?
Thetadrop.com - create an ID and login - recall Theta support KYC & AML - yeah I failed to pre-fill my info and I missed out on my chance at one of the first 88 Secret Pineapple Society (SPS) drop last week. Still kicking myself
You can find the KYC & AML details here -
Summary - Theta continues to bring in high quality partners, continues to innovate with patent protections and continues limit the quantity of their Tokens, bringing a form of scarcity too. Theta, TFUEL and now TDROP are all designed to work together to strengthen the Theta Blockchain! Theta to the moon!!!!
Disclaimer - I am not an employee nor an agent of Theta, Theta labs, although it sounds super exciting!