The Tomi network is set to enter a new era of development, as a developer fund worth 10 million dollars in Tomi tokens will be minted to the decentralized autonomous organization (DAO) on February 14th. This significant injection of funds will play a crucial role in accelerating the development of the Tomi network, and incentivizing both users and content creators to join the platform.
Token Allocation
The Tomi project has always been driven by a vision of creating a self-sustainable ecosystem that supports its users and content creators. The creation of this developer fund is a key step towards reaching that goal, as it will provide the resources necessary to support the continued growth and development of the network.
Each year, 10 million dollars worth of tokens will be minted, with the exact amount of tokens determined by the token price on the designated date. For example, if the token price is 2 dollars, the smart contract will mint 5 million tokens. This structure ensures that the fund remains relevant and up-to-date, regardless of changes in the token price.
It is important to note that the purpose of this fund, as outlined in the whitepaper, is solely to support the development of the network and nothing else. The DAO will always retain its position as the highest authority in the Tomi ecosystem, as stated in the tokenomics proposal. The DAO is responsible for making decisions about the distribution of funds and ensuring that the network remains aligned with its goals and vision.
Incentivizing Developers and Marketers
One of the key goals of the Tomi network is to incentivize application developers, content creators, and regular users to join the platform. The creation of this developer fund is a significant step towards achieving that goal, as it will provide the resources necessary to support the development of new features and tools that will make the platform more attractive and user-friendly.
For example, the funds from the developer fund could be used to create a parallel to the Secure Shell protocol (SSH) for the tomiNet, or to create an NFT marketplace for the ArtDAO. People with expertise in marketing can propose outreach campaigns or funds to create parallel ecommerce sites like OpenBazaar, which operates in semi-privacy on the regular internet, but a tomiNet would make such a marketplace fully autonomous and private. Maybe someone has an idea for the next social network that will supercede Lens and Spot—if the tomiNet community wants their own social network, they can raise the dApp team from the community and the funds from the Development fund.
tomiNet supports Web2 protocols, and the tomi Web3 infrastructure is EVM compatible, so the developer fund can draw from a wide range of development, content, and marketing talent. If you know great people, now is the time to bring them in to enjoy the benefits of being part of the alternative net.
A Self-Sustainable Future
The goal of the Tomi network is to create a self-sustainable ecosystem that supports its users and content creators. As with the other releases in the tomiNet so far, the team is committed to the whitepaper and is releasing this first annual funds in accordance with the promises to the community and those who have invested their resources and time to launch the testnet, tomi Pioneers, and the DAO. Now that the DAO has already allocated its first set of funds, the smart contract is set to release these funds into the DAO to be voted on by the Pioneers.
After the initial five years in which the DAO Development Funds are minted, the DAO is expected to become independent of this annual fund, as the fees from the tDNS, use of the tomi network, and transaction fees on the platform will feed into the economy and create a fully independent DAO that has its own revenue sources.
Creating a Fund
To start the fund on the right foot, DAOwl will be opening a Forum in the public community channels to discuss best practices of how to allocate funds. We will be drawing on the knowledge gleaned from communities such as Ethereum, DASH, Cardano, Uniswap, Olupus and other DAOs which have opened up specific development funds for their projects. We are counting on the community to help find the right people to guide this process so that the team can have a light hand in advising while the community creates the goals for each year and each quarter, putting out calls to the wider development and marketing communities to come on board. Based on the AMA last week, we know the tomi community is extremely knowledgeable and can bring in top notch people from all over the world.
Like other projects, tomi hopes to draw both from crypto natives and from developers and marketers in Web2, so that we can dramatically expand the community beyond the limitations of crypto today and into the realm where anyone who cares about privacy can participate in this system.
Similarly, it’s important to us to bring in people from different countries and with different languages. The tomi team speaks around a dozen languages—but that’s not much! We need you to bring in dApp developers and community members worldwide so that we can allow people to apply for the fund in their native languages. So many of you have volunteered and translated the whitepaper so we know that the resources are there.
Conclusion
To get involved, please join the Discord channel and under the Community section, you’ll find a new proposal-discussion forum. The tomi Fund discussion will focus on how to best use this development fund, and how we want our tomi fund to look. With this infusion of funds, we are poised to bring in developers, marketers, content creators, and users from all over the world. Together with the community, tomi is working hard to make sure that the development fund gets into the right hands and is allocated to projects that truly move the network forward.