It is the time to step into the exciting world of TomiNet, an alternative internet that promises innovation, freedom, and limitless
possibilities. As part of this groundbreaking venture, we introduce tDNS, a new domain system by tomi.
In the early days of the Internet, domain names were readily available and affordable. Many missed out on the opportunity to
secure valuable web addresses at a fraction of today’s prices.
But now, with tDNS, you have the chance to tap into the next frontier of domain ownership.
To participate in the domain acquisition process on the tDNS platform, follow
these steps:1. Payment and Auction: Initiate the process by paying $100 in $TOMI and acquiring the Partner NFT which will grant you 25% of future sales from this domain. Your domain will then be placed in an auction that runs until May 2024.
2. Bidding Process: If you want to bid on a domain, your bid must exceed at least by 15% in $TOMI.
3. Minter’s Share: Whenever a bid is placed, the minter receives 25% of the difference between the new bid and the previous highest bid. The minter ultimately receives 25% of the last bid minus the minting price.
4. Previous Bidder’s Refund: When a new bid surpasses the previous highest bid, the previous bidder is refunded their original bid amount plus an additional 20% of the difference between their bid and the new highest bid.
5. DAO Contribution: The remaining amount from each bid splits equally between the DAO and tomi’s treasury, supporting the development and operation of the tDNS platform.
This structure ensures that the minter and previous bidders receive a share of the auction, while the DAO benefits from the remaining funds.
Example:
- John just minted love.com and paid $100 (for the example purposes let’s say it’s equivalent of 20 TOMI – as a result, he got the partner NFT. The 20 TOMI is immediately transferred equally to treasuries.
- Bob wants to place a bid for love.com too – he has to bid at least 15% above the minting price. Bob bids 23 TOMI and as a result, John gets permission to claim 0.75 TOMI (25% of the bid difference) + 20% from the difference between his and Bob’s offer (0.6 TOMI). The remaining amount of 21.65 TOMI is being sent to the treasuries.
- Ron is a new person interested in love.com placing 40 TOMI bid on the domain. As a result, Bob gets his TOMI back + 20% from the difference between his and Ron’s offer (3.4 TOMI), as well John can now claim 25% from the difference which is 4.25 Remaining funds are being sent to the treasuries.
- Julia is now interested too in love.com – she decided to bid 50 TOMI on the domain. As a result, Ron gets his money back + 20% from the difference between his and Julia’s offer (40+2 TOMI), as well John can now claim 25% from the difference which is 2.5 TOMI (total John’s rewards – 7.5 TOMI), finally 5.5 is being sent to the treasuries.
May 2024 Auction finished! The DAO’s & tomi treasuries received in total 56.5 TOMI
John got Partner NFT for love.com which will grant him 25% of future sales, on top of that John got 7.5 TOMI from the auction.
Bob got 26.4 TOMI (his money back 23 TOMI + 3.4 TOMI).
Ron got 42 TOMI (his money back + 2 TOMI).
Julia has won the love.com Domain for 50 TOMI.
On top of our tDNS economic system, We’ve created a unique referral system that will incentivize our community and other communities to promote the launch of tDNS – learn all about it here: compensation plan