In an AMA hosted by BTSE on March 14, 2023, TomoMasterDAO Marketing Manager Adrian and TomoChain Labs Marketing Manager Tryphena discussed the objectives and future aspirations of TomoChain, a blockchain platform that aims to provide high-performance, low-cost, and secure infrastructure for decentralized applications (dApps).
TomoChain Overview
Tryphena explained that TomoChain Labs oversees the TomoChain public chain, forming the foundation of their ecosystem. TomoChain is a scalable, secure blockchain network compatible with the mainnet. The platform uses proof-of-stake voting consensus, providing 2,000 TPS, two-second block time, and nearly zero gas fees. The network is managed by 150 Masternodes, allowing Tomo holders to vote for their preferred Masternode and earn passive income in TOMO. TomoChain aims to accelerate mass adoption of Web3 applications through TomoMasterDAO with a community-driven approach, funding and supporting the incubation of DeFi and Web3 projects.
In summary, TomoChain Masternodes are essential for fast and secure transaction processing. They act as validators, verifying and validating transactions, and require TOMO tokens for participation. Masternodes are responsible for validating transactions, proposing blocks, confirming transactions, and overseeing network governance.
TomoChain’s staking voting system, featuring 150 Masternodes, strengthens network security and offers a unique validation method. This approach reduces the chances of blockchain forks, ensuring quick confirmation times and efficient checkpoints for finality. As a result, the network outperforms competitors in terms of efficiency.
What Sets TomoChain Apart
According to Tryphena, TomoChain’s main value propositions are its super-fast block time of 2 seconds and near-zero gas fees, which make it easy for dApps to integrate with the network. Additionally, the proof-of-stake voting mechanism allows TOMO holders to govern network performance by staking across 150 Masternodes, giving the community a say in the future direction of TomoChain. Finally, TomoChain provides a friendly environment for both community members and developers, with a fast-growing ecosystem of projects running on the TomoChain network, as well as extended assistance for Web3 builders, including network consulting, marketing and funding, and technical support.
Tryphena explained that the TomoChain blockchain network, with its proof-of-stake voting consensus mechanism, provides a robust platform for Web3 builders and projects to create useful and fundamental tools for their applications. TomoChain currently offers various services—including Masternode staking, multichain automated market maker (AMM) LuaSwap featuring swapping and yield farming, IDO launchpad LuaStarter, investment arm LuaVentures, and TomoBridge—in collaboration with Multichain, which allows for easy cross-chain asset transfer. The network has also recently launched an NFT platform named Tezuka, which is incubated by TomoMasterDAO.
In addition, with TOMO recently listed on BTSE Exchange, users can easily explore and interact with their ecosystem using the token. TomoChain believes that its network offers a plethora of opportunities for developers and users alike to leverage the potential of blockchain technology.
TomoChain is currently seeking potential partners to collaborate with TomoMasterDAO and has a broad community that continuously supports the project.
TOMO Token
Adrian shared that TOMO is the native token of TomoChain and is required for making transactions and using any dApps on the network. General users can earn passive rewards and help decentralize the network by staking across a network of 150 Masternodes and other staking services available in the TomoChain ecosystem. Additionally, TOMO can be used for funding ecosystem development, as a decentralized governance instrument, and as a voting reward. The documentation on TomoChain’s website provides more information about TOMO and its various use cases.
DeFi & DAOs
Tryphena stated that DeFi and DAOs can increase accessibility to previously unavailable platforms and services like lending, borrowing, swapping, and farming. She considers them crucial for automation and innovation within the TomoChain ecosystem. TomoChain is developing various DeFi products, including the multi-chain protocol LuaSwap and TomoMasterDAO.
Adrian discussed how DAO mechanisms encourage decentralization and community-driven decision-making, defining Web3. He anticipates that DAOs and DeFi projects will significantly advance in the coming years, unlocking new collaboration and value creation opportunities.
Tryphena expressed her belief that DeFi can maximize liquidity and remove middlemen from financial services, enabling universal access to these services.
TomoChain’s Current Focus
Adrian shared that TomoChain is currently focusing on the TomoMasterDAO expansion. They recently completed board members’ elections and are evaluating and bringing on more valuable projects to the ecosystem through a process of evaluation and community voting. TomoChain has onboarded and funded multiple projects over the last year and is actively seeking new projects to join them in the future. They plan to expand even further in the coming years.
Future Plans & Partnerships
Adrian mentioned numerous upcoming activities for both the TomoMasterDAO community and the broader TomoChain ecosystem. With board member elections completed, they are now evaluating valuable projects that could benefit the community. They recently held a staking program with Binance Exchange and have more plans for the middle and end of the year.
The forthcoming multi-chain AMM and IDO launch on the network was discussed. TomoChain is currently in talks with potential project accelerators, game hubs, and other partners to raise awareness for TomoChain and support the ecosystem’s growth. They aim to introduce more projects for the LuaStarter Launchpad and the larger community to participate in IDOs and INOs, expanding opportunities for engagement and development within the ecosystem.
The TomoChain Community
TomoChain encourages everyone to follow their social media platforms including Twitter, Medium, and Telegram, as they allow like-minded individuals who are passionate about TomoChain to receive notifications about content updates and new marketing campaigns. The Telegram channel currently has over 10,000 members, where people share their thoughts and comments about the Tomo ecosystem. TomoChain values feedback on how to improve and enrich the ecosystem, and Adrian encourages everyone to join their vibrant community.
Community Questions
TomoChain Expansion
Regarding TomoChain’s interaction with other networks and future expansion, Tryphena mentioned the existing collaboration with Multichain through TomoBridge for cross-chain transactions. They plan to extend partnerships with Web3 builders, DeFi apps, and more. TomoMasterDAO is also exploring gaming projects and cross-chain solutions to integrate assets from other networks into TomoChain, and actively pursuing potential projects to enhance their network and brand awareness.
From Web2 to Web3
TomoChain emphasizes decentralization as a key aspect of the transition from Web2 to Web3. Projects like Tezuka Marketplace aim to empower the community and involve them in decision-making. To ensure user security and privacy, the non-custodial wallet Bitizen Wallet has been integrated into TomoChain’s technical system, and will continue to develop and incorporate more projects.
Tomo Bridge
The TomoChain representative stated that the Tomo Bridge project has evolved over time, acting as a gateway to various partner solutions. Security measures have been implemented to ensure a seamless user experience when transferring assets between TomoChain and other blockchains. Presently, the multi-chain bridge allows TomoChain assets to be transferred to Ethereum, and intends to adopt new cross-chain solutions in the future.
TomoChain + AI
TomoChain is currently discussing the possibility of integrating AI into their network through web three projects that focus on AI. They plan to incubate these projects in the Tomo system and seek the TomoMasterDAO’s help to bring them to fruition. According to TomoChain member Adrian, AI projects are the future of technology and TomoChain should not miss out on this trend. They are open to supporting AI projects that are interested in the Tomo network.
TOMO tokens can be purchased on the BTSE exchange, and information on how to buy TOMO on decentralized exchanges, along with contract addresses, can be found on TomoChain’s social channels, including Twitter, Telegram, and Weibo.
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