The Crypto world attracts a lot of talent every year. The last bull run, especially, saw a huge rise in the number of new ingenious projects. As a result, the creative projects skyrocketed, and talented teams were rewarded for their hard work.
However, immense attention also highlighted a few technological challenges which are now being addressed. These challenges include promoting the use of decentralized tools to curb censorship and security issues, protecting our identity and reputation, and promoting transparency and future-proofness.
We envisioned a more effective and efficient decentralized system. Hence, we outlined the challenges facing the same and worked toward creating a Teritori.
Introducing Teritori Ecosystem
Territori is an interchain ecosystem built on Cosmos SDK to ease your everyday Web3 journey. We aim to give Web3 individuals, communities, and builders an enhanced experience through an all-in-one hub of dApps.
We analyzed the decentralized space for months and concluded that builders are strengthening the space by making it more and more attractive. Hence, they need a healthy ecosystem with the best possible tools, contacts, and incentives to support their vision. That’s why we came up with Teritori — an attempt to improve and fix whatever we can.
This multi-chain hub is designed to allow IBC and non-IBC communities to connect, trade services and NFTs, and build and launch new projects. Furthermore, Teritori includes daily-use dApps such as an NFT launchpad, a marketplace, and a touch of social features to help you innovate, trade, and organize.
Challenges Faced by Other Networks
Since Teritori is built with the aim to give an enhanced experience to Web3 community members, we aim to address the following challenges with the release of the first dApps:
- Decentralized and user-friendly alternatives to Web2 tools and applications we use on a daily basis.
- Basic tools for a DAO to operate and develop itself.
- Affirm your Web3 identity and protect your reputation from identity theft and other scams.
- Connecting communities from IBC blockchains and other networks to provide a seamless multi-chain experience.
Teritori Features are the Solution to Above Challenges
After analyzing the technological challenges of Web3 and the needs of the Web3 community, we included the following features in Teritori:
User Profile: Web3 identity is more than just a PFP and a follower count. Users will be able to connect multiple addresses from various networks so that they don’t have to open multiple websites at the same time. In addition, users can control the information they want to display and customize their experience by selecting their preferred dApps. We’ll also introduce the features to certify experiences and skills to connect jobs with talent.
Teritori Name Service: Create an even more personalized profile by selecting a cool @username.tori nickname. This name will be used in any dApp from the hub. Further name services will be available on the marketplace as well as on IBC and non-IBC networks.
Marketplace and Launchpad: Teritori features a multi-chain marketplace and launchpad. It is multi-chain on purpose to connect the bridge between different networks and Teritori. This will help bring more attention to the projects of smaller volume networks. The native R!OT NFT collection will be the first use case to be launched on the Teritori marketplace. Although the first projects to be launched on the Launchpad will be on the Teritori network, more networks like Solana and Ethereum. Furthermore, we will completely decentralize the validation process in the future.
Social Features: Teritori has the Web2 social features but with the advantages of Web3, courtesy of Berty Protocol. Users can interact with DAOs and other users through their public profile and feed. They can also post or apply for a job and/or find the team to build and launch a project with. Moreover, you can create a token-gated group with others, organized in a future-proof and distributed way.
DAO Tools: Basic tools for DAOs and project owners include the following features:
- Creating or claiming a customizable Teritori (DAO space to interact).
- Listing job offers and launching bounties.
- Launching an NFT collection.
- Launching a utility or governance token.
Furthermore, more solutions will be given to users so they can find what they need to do the job. Such as:
- Access to a wide catalog of services provided by third-party developers and builders.
- Permitting the community to review and rank listed offers.
- Creating a competitive space with collaboration tools to accelerate innovation.
dApp Store: We will soon launch an application form through which trusted builders can apply to list and offer their services on the upcoming dApp store. This way, users will have access to the best solutions available at any time. In addition, users will be allowed to customize the list of preferred dApps to be displayed on their Hub page for added convenience.
Teritori Tokenomics: The TORI Token
TORI is the governance token of the Teritori blockchain. It provides a decentralized method for token holders to vote on strategic decisions for the Teritori network. TORI is also a utility token that is needed to access or interact with the various dApps of the ecosystem. It will be burned when needed to maintain a sustainable network.
Initially, 200 million TORI tokens will be distributed among Airdrop beneficiaries, a community pool, and a strategic reserve that will be critical to the development of the network. It follows a similar policy as Bitcoin. Token issuance will be reduced ⅓ each year. New tokens will be released and distributed on a block basis in the following manner:
Staking rewards: 40%
Usage incentives: 25%
Developer vesting: 15%
Community pool: 10%
Introducing R!ot NFT
R!ot NFT will be the first NFT collection to be launched on Teritori. It will be the perfect use case for the multi-chain Teritori NFT marketplace and Launchpad. The R!ot is a collection of mutable NFTs and Play2Earn gaming concepts.
Players will be rewarded with in-game tokens for expanding their crew, evolving their NFTs, and participating in fights (stakes). Holders will also have the option to make an NFT immutable once it reaches max level and earn rewards in the form of TORI governance.
Teritori network is the best option to experience Web3 features safely and efficiently. The new and innovative ideas will help you promote your projects to a better and bigger audience, build a community, and collaborate with like-minded individuals and teams.
You can check out the Teritori website for more information and follow them on Twitter and Discord to stay up-to-date with their latest updates.