TOMO - Economics

What is TOMO? Can you describe the functions and purposes of TOMO?

TOMO is the native cryptocurrency of TomoChain and will be the reserve cryptocurrency for all third-party apps running on TomoChain. Being the protocol token for the TomoChain infrastructure, TOMO will be needed by all parties utilising TomoChain to build apps or issue and integrate cryptographic tokens into their apps.
The supply of TOMO is fixed, long-term and non-inflationary.
In addition to the above, TOMO is an integral part of the TomoChain network for a number of reasons.
  • TOMO will be used to fund the development of TomoChain and its ecosystem (TomoScan, TomoMater, TomoWallet, etc.).
  • TOMO will be used as a reward to incentivise the building of the TomoChain engine/ecosystem.
  • TOMO will be used as a long-term, decentralized governance instrument of the TomoChain network.
You can check our technical whitepaper for more details.

Can I mine TOMO?

TOMO is not mineable but mintable by Masternodes. Masternodes are responsible for creating, verifying and finalizing the blocks created within a period, called an epoch. Masternodes and Stakers will receive block rewards.

What is the TOMO circulating supply and total supply?

The initial circulating supply at the genesis block was 55,000,000 but the current circulating supply is increasing every epoch.
After 8 years, TOMO total supply is fixed at 100,000,000 TOMO.

How is TOMO distributed?

The token allocation is split as follows:
  • 55 millions TOMO was already allocated after the token sale period;
  • 12 millions TOMO are reserved for the team vested over 4 years;
  • 16 millions TOMO are reserved for strategic partners and an ecosystem building fund;
  • 17 millions TOMO are reserved as block rewards for 8 years

How are block rewards distributed?

17 millions TOMO are reserved as block rewards with a halving schedule over 8 years.
  • 1st and 2nd year: 4 million TOMO annually
  • 3rd, 4th and 5th year: 2 million TOMO annually
  • 6th, 7th and 8th year: 1 million TOMO annually
Will TomoChain have inflation?
The total supply is fixed at 100 million TOMO in the first 8 years (non-inflationary). 17 million TOMO which are reserved as block rewards will have been all distributed after 8 years. At that time, we are expecting that block rewards will come from the exchange fees. But the Masternode Council can decide to increase the total supply by 0.5-1 million TOMO per year (which will be used as block rewards) (~small inflation, 0.5%-1% annually).
How often are block rewards paid out?
Block rewards will be awarded every epoch, which lasts for 900 blocks at roughly a two-second-block time rate (~30 minutes). Both Masternode operators and Stakers will be rewarded.
If TomoChain has near zero fees, how can Masternodes get rewards?
The block rewards will be emitted from a reserved fund of 17 million TOMO for the first 8 years. The block rewards are as follows:
  • 1st and 2nd year: 4 million TOMO annually
  • 3rd, 4th and 5th year: 2 million TOMO annually
  • 6th, 7th and 8th year: 1 million TOMO annually
We plan to have a built-in DEX, the revenues from the DEX will go to the Masternodes as well.
After 8 years, the block rewards will come from exchange fees. Also, the Masternode Council can decide to increase the total supply by 0.5-1 million TOMO per year (which will be used as block rewards).

What was the price in presale and ICO?

Presale Price: $0.20
ICO Price: $0.25 (0.0003125 ETH)

Is TOMO an ERC-20 token?

No. Since Mainnet, TOMO has become the native coin of the TomoChain blockchain.
Where can I store TOMO? How can I send TOMO to my wallet?
You can store TOMO in TomoWallet, TrustWallet, MetaMask, MyEtherWallet, Ledger and Trezor and more wallets
We recommend to store TOMO in TomoWallet.
Please, read more details here: https://docs.tomochain.com/get-started/wallet/

Can I send TOMO directly from my MyEtherWallet?

Yes. MyEtherWallet now has TomoChain in the supported network list. TOMO holders then can send TOMO using MyEtherWallet after switching the network to TomoChain.

How do I connect Metamask / MyEtherWallet with TomoChain mainnet?

The following is information used for configuring Metamask to connect to TomoChain Mainnet.
  • RPC endpoint: https://rpc.tomochain.com
  • Chain ID: 88
  • Symbol: TOMO
  • Network Name: TomoChain Mainnet
TomoChain is now supported by MyEtherWallet. All you need to do is to choose Network TOMOin the supported network list in MyEtherWallet.
You can find the info about our Mainnet or Testnet on our Networks page.
Also, you can find out more detailed information about how to use different wallet types to connect to TomoChain Mainnet on Connect your wallet

Where can I buy TOMO?

You can trade TOMO on various exchanges. Take a look in the "Exchanges" section on this page of our main website > Ecosystem section > Liquidity tab.
Last modified 1yr ago