The Truflation token facilitates an influx of unbiased, real-world, financial and economic data to come on chain.
The original Truflation CPI attracted global attention, which confirmed that web3 developers are hungry for real-world economic data.
As cryptographic truth gains popularity, there is an urgent need for financial and economic data that all participants can agree on.
Our first financial indexes were focused on inflation, and proved to us that there is demand for such unbiased, transparent data.View the Truflation dashboard
Bringing financial and economic data on-chain in an unbiased manner poses a number of challenges. The TFI token creates a data economy that solves these challenges by incentivizing an entire ecosystem built on transparency.
Big data is big business. Since access to cutting-edge data tends to deliver competitive advantage, data providers are incentivized to keep it private and charge a premium. Most datasets also come with strict licensing agreements that forbid us from publishing the raw data on-chain.
So how can we incentivize data providers to make their data public on the blockchain?
By showing data providers that there is a real demand for reliable, unbiased data, we believe we can encourage them to engage with this new paradigm. Democratizing the data may be uncomfortable for them at first, but we are building out a system that makes it easy for them to test the waters.
We believe this system will also empower a new breed of data providers that otherwise wouldn't have been able to compete with the existing behemoths.
Truflation is taking the same transparent methodology that we used in our CPI index, and applying it to countless new financial metrics. But rather than building out each of these on our own, we've designed a data marketplace that incentivizes the community to apply the same techniques we pioneered.
In this new system, users can filter or search for data feeds. Developers can immediately access the data feeds they want. Data providers can provide new feeds in a permissionless manner. Curators and analysts can combine or create their own custom data feeds. And validators can verify that the data is correct.
The Truflation token powers this data economy. Each time data is purchased using TFI, those tokens are directly distributed to the raw data providers, curators, and validators responsible for delivering that data.
This entire project is about decentralizing and democratizing data. As such, TFI token holders will be invited to participate in governing the direction and development of the project.
The TFI token allocation was designed to put the bulk of the tokens in the hands of the community. While Team and Private Sale allocations may be obvious, a few others require description.
As token holders may eventually govern the entire platform, it is important that we make this transition carefully and methodically. To enable this at a conservative pace, the emissions schedule unlocks all tokens over the course of five years.
|Community||30%||Vested over five years|
Y1: 15%, Y2: 16%, Y3: 21%, Y4: 24%, Y5: 24%
|Product Development||10%||1 year cliff with 24 month linear vesting in 30 day intervals|
|Team||18%||1 year cliff with 24 month linear vesting in 30 day intervals|
|Private Sale||12%||5% unlocked after LBP; 95% vested|
1 year cliff with 24 month linear vesting in 30 day intervals
|Liquidity||30%||Unlocked on TGE. Only moved with strict transparency.|
Why does Truflation need a token?
At its core, TFI is used as currency for data. This allowed us to design a self-contained economy where payments for data go directly to the contributors of that data. It also enabled incentives for new developers and contributors from the community to build on the product. But beyond that, there was a real need for a governance token to ensure that development is going the direction its community wants it to go.
Is Truflation a DAO?
Yes. While the goal is to completely decentralize the governance and development of the platform, we're taking a conservative approach. We are dealing with financial data that will eventually affect billions of dollars. With TFI, we are opening up towards a DAO structure while making absolutely sure that we are careful with how we decentralize governance.
Will there be further token utility?
Perhaps, but we don't want to over promise or under deliver. While things like staking may eventually be part of the token utility, it's best to just consider the utilities listed above as the only utility for TFI.