TouchCon Token Economy and Governance Direction
Token Generation & Distribution
TOC Utility Token is a token issued by TouchCon. It can be used for various purposes such as payment and exchange in the TouchCon ecosystem and supports token holders to make free payments and transfers while earning transparent and fair rewards.
For this, detailed management of holding amount for blockchain mainnet development and RAP alliance agreement alongside appropriate level of lockup and unlock. However, to prevent decrease in value caused by excessive supply of unlocked tokens, total amount of tokens supplied will be controlled in accordance with actual allocation and minimum market demand.
Token Operation Guide
1. Reward Pool 50% (495,000,000 TOC)
50% of total tokens is allocated to the reward pool and are locked up since generation. From November 2021, 49.5 million tokens will be unlocked every year and be distributed to TouchCon ecosystem. The reward poll will be completely exhausted on June 30th, 2030.
2. Capital Reserve 15% (148,500,000 TOC)
15% of total tokens issued is allocated to capital reserve, which will be used to actively respond to the radical changes in market condition. Capital reserve, in essence, is a reserve fund for dealing with various macroeconomic conditions that may influence the roadmap in the global settings.
3. TOC Operation 13% (128,700,000 TOC)
13% of total tokens issued is allocated to TOC operation, which will be used to operate the foundation for project development and support and manage service operator.
4. Team & Partner 5% (49,500,000 TOC)
5% of total tokens is allocated to team & partner, and will be distributed to domestic & overseas developers or partners, alliance members and advisors participating in the ecosystem depending on the level of contribution. Those receiving tokens allocated for developers shall engage in self-regulatory lockup to contribute to TouchCon liquidity. (50% locked for one year, and 50% for two years)
5. Global Marketing 5% (49,500,000 TOC)
5% of total tokens is allocated to global marketing and will be used for the establishment of various affiliation network and overseas offices for integration of global rewards, and for expansion of exchanges to secure Touch Token (TOC) liquidity.
6. Private Placement 12% (118,800,000 TOC)
12% of total tokens is allocated to private placement and will be used as operation and technological development expense for achievement of project goals, and for R&D and solution and blockchain development.
Token Management Plan
TOC, which is distributed appropriately suitable for the purpose and use of the TouchCon project, will be strictly managed according to the token management plan. All Unlocks are planned according to the development schedule, so the token circulation volume will be controlled through stable supply and management. The following is the Unlock schedule for 2021–2022.
-From November 2021, 49,500,000 tokens from the Reward Pool will be unlocked every year and distributed to the ecosystem through generation of Rewardcon, which will conclude after 10 years on June 30th, 2030.
-Tokens allocated for Capital Reserve and TOC Operation will not be locked and held for long term to ensure TouchCon ecosystem stability.
-Tokens allocated to Team&Partner and Global Marketing will not be locked and held, among which 19.8 million tokens allocated to Team & Partner will first be unlocked and distributed on September 01th, 2021, and additional 9.9 million on January 20th the following year. The remainder will be held for medium to long term.
-Among tokens allocated to Global Marketing, 19.8 million tokens will first be unlocked and distributed to the ecosystem on November 09th, 2021, followed by additional 19.8 million on May 20th the next year. The remainder will be held for medium to long term.
Token Inflation, Buyback, and Burn Policy
Strict management and transparent policy execution on the distribution volume of TOC (TOC) will be the most important factor that stabilizes the TouchCon ecosystem and activates the TOC economy in the future.
1. Inflation Management Policy
The most important factor in token inflation is the emergence of new volumes. However, the volume of TouchCon (TOC) reward pool that comes out on the market every year is 49.5 million units, which is only 5% of the total issuance. In general, the volume that can cause inflation in the global market is said to be around 20% of the total issuance, so the possibility of inflation of TouchCon (TOC) is very low. Nevertheless, when the supply and demand balance are not inconsistent due to excessive market volume, the token economy will seek stabilization through the TouchCon (TOC) Buyback policy and Burn.
2. Token Buyback Policy
RAP advertisers will purchase RewardCon by cash or make a payment with TouchCon (TOC) that they purchase in the exchange according to the TSP (TOC Sales Proceeds) designed as a business profit model in this white paper 5.1. In the case of cash, 30% of the total profits are used for repurchasing in the market according to the buyback policy. When you make a payment using TouchCon (TOC), an indirect buyback effect will occur, which will act as a catalyst that reduces the volume of TouchCon in the market and increases not only supply & demand but also market price.
In addition, the payment in the business model planned in this white paper 5.2~5.4 is also performed using cash and TouchCon(TOC). According to the TouchCon buyback policy, 30% of all business profits are used for repurchasing in the secondary market, so the governance structure of the TouchCon (TOC) can be stabilized.
3. Token Burn Policy
The volume of 49.5 million reward pool will be distributed fairly to all RAP advertisers and used for marketing every year. However, when it is not used after distribution, or when the volume remains due to the advertiser’s situation, we will collect and burn all of them, and will announce the fact to the community through notification.
Operating Wallet & Holding Token
Token Governance
TouchCon is aware of the needs of governance as the principle of decision-making system to induce multiple consensuses for establishment and stability of ecosystems. TouchCon Governance is a minimal device to enable advertisers and users of the project to participate together and actively listen to participants in the blockchain.
TouchCon governance is used to manage efficient and fair distribution of resources, as well as the comprehensive consensus method of participants. Therefore, it pursues broad governance that includes most of all decision-making methods performed within the TouchCon ecosystem. As a result, in addition to the consensus method of the TouchCon blockchain participants, all resources are fairly and efficiently distributed and used.
In the technical aspect of the blockchain, TouchCon governance includes a variety of decision-making challenges deriving from the creation of reward blocks in the Touch Chain and connection to marketing, as well as the selection process of the consensus algorithm (PoS, PoW, DpoS, etc.) in the future Touch Chain Mainnet. This is because a variety of participation and consensus are necessary for the performance and roles of advertisers and users that participate in the ecosystem for the success and completion of the TouchCon project.
1. TouchCon Off-chain Governance Scope
-The right to vote on the consensus algorithm in the blockchain Mainnet
-The right to vote on the RAP advertisers who are competing in the same industry
-The right to vote on the digital asset distribution for RAP advertisers
-The right to vote on the distribution of business revenue resources
-The right to enter a new business for project scalability
2. TouchCon Governance Execution Criteria
Governance of all TouchCon wallet holders is executed through www.rewardcon.com solution that generates RewardCon and the mobile TouchCon wallet app. A wallet owner with a minimum 100 TOC as a qualification for participation has an opportunity to register as a governance participant in the solution and participate in voting on the issued agenda. Voting power in voting rights is determined according to the quantity of tokens stored in the wallet, and detailed criteria and proceedings are announced through separate notifications.
It is to make more users participate in and attract their support to define the minimum quantity of the TouchCon as 100 TOC. And it is to execute a fairer governance to impose voting power according to the token quantity. In addition, whenever governance issues arise, they will be announced transparently through public notice.
