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Eljo

3 May, 9 tweets, 3 min read

In this thread I want to talk about the tokenomics of Truebit.

$TRU had an insane volume of more than 600M in the last 24h, and the holders grew around x20 over this weekend.

The Marketcap went from 5M on Thursday to 400M yesterday. That's an increase of x80. But the price "only" did a x10.

But how can this be tru?

As the founder of Truebit @jasonteusch said, the token supply can increase and decrease over time.

"TRU tokens are created and destroyed over time according to cumulative demand."

TRU can be purchased (minted) directly through the Truebit OS. Every buy from the OS increases the ceiling price (price per $tru via OS) by a little.

When the price of $tru falls under the minting price (ceiling), it makes no sense to create more tokens, since you pay more to mint new ones than you have to pay on the open market.

That also means that there is no max cap. The demand decides what the supply is.

But since Truebit is a tru innovation, of course there's also more to it.
Truebit also has a burn mechanism.

"Users can purchase or retire TRU tokens in exchange for ETH. Each purchase transaction deposits some ETH into a reserve escrow (the rest goes to the Company), and some ETH is withdrawn from the reserve through each retire transaction. Each Truebit task also burns TRU tokens."

So you can burn tokens by retiring (selling) them into the contract. But, much more importantly each task will also burn TRU tokens. This means, that when the actual usage of the Truebit Protocol increases, it will burn tokens. And believe me, I'm just scratching the surface!

I will do another Thread that will explain more about the burm mechanism, task givers, verifiers, and solvers.
If I stated something wrong, please correct me, I'm always trying to DYOR. Stay tuned for more!

Read this article for a deeper explanation:
medium.com/truebit/gettin…

https://twitter.com/_er_5/status/1389136890855571457?s=19

And you can also read my previous thread to read about some misinformation going on around $tru

https://twitter.com/_er_5/status/1389136890855571457?s=19

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More from @_er_5

Eljo

@_er_5

3 May

@Truebitprotocol

A step-by-step guide to clear the "but sir $tru is not made by the official @Truebitprotocol founders, its an anon scam" - FUD:

@Truebitprotocol

1. Visit @Truebitprotocol
2. Look who follows the project
3. Imagine all of these legendary crypto OG people following a "fake" Truebit Twitter account.
4. Click on the website that is provided on the $tru Twitter account.
5. Check the token address of $tru on their website.

6. Check the token address of the "scam" $tru
Still fudding?
7. Visit linkedin.com/company/truebit
8. Do the same steps as before

Read 4 tweets

Eljo

@_er_5

3 May

There is so much misinformation around $TRU that I want to clear some things up:

TRU can be purchased directly through the Truebit OS. Every buy from the OS increases the ceiling price (price per $tru via OS) by a little.

People are calling the ceiling price the "price floor" and claim that the price won't go below that. This is wrong: Instead of buying $tru you can also retire it through the OS. When you retire $tru you get way less than what it would cost to mint new $tru: