Resources & FAQs
Bitcoin was created by Satoshi Nakamoto, a pseudonymous person or team who outlined the technology in a 2008 white paper. It’s an appealingly simple concept: bitcoin is digital money that allows for secure peer-to-peer transactions on the internet.
• Unlike services like Venmo and PayPal, which rely on the traditional financial system for permission to transfer money and on existing debit/credit accounts, bitcoin is decentralized: any two people, anywhere in the world, can send bitcoin to each other without the involvement of a bank, government, or other institution.
• Every transaction involving Bitcoin is tracked on the blockchain, which is similar to a bank’s ledger, or log of customers’ funds going in and out of the bank.
• In simple terms, it’s a record of every transaction ever made using bitcoin.
• Unlike a bank’s ledger, the Bitcoin blockchain is distributed across the entire network. No company, country, or third party is in control of it; and anyone can become part of that network.
• There will only ever be 21 million bitcoin. This is digital money that cannot be inflated or manipulated in any way.
• It isn’t necessary to buy an entire bitcoin: you can buy just a fraction of one if that’s all you want or need.
Unlike credit card networks like Visa and payment processors like Paypal, bitcoin is not owned by an individual or company. Bitcoin is the world’s first completely open payment network which anyone with an internet connection can participate in. Bitcoin was designed to be used on the internet, and doesn’t depend on banks or private companies to process transactions.
One of the most important elements of Bitcoin is the blockchain, which tracks who owns what, similar to how a bank tracks assets. What sets the Bitcoin blockchain apart from a bank’s ledger is that it is decentralized, meaning anyone can view it and no single entity controls it.
TokenDAO is ERC-20 Compliant
- Listable on Exchanges
- Borderless Transactions
- Smart Contract Ready
$TOKEN: Governance Token
TOKEN is the TokenDAO’s governance token used to vote in changes to the TokenDAO. TOKEN holders may vote for new TokenDAO products, or vote on allocation of the TokenDAO treasury, and more. TOKEN is an ERC-20 standard token on the Ethereum blockchain.
TOKEN contract address: 0x3DD6B2792dbd834296c0747600049Bdfcca3aFef
We would like TOKEN’s value to have an intrinsic value tied to the value of our products. Therefore, if the value of our products increases, so too will TOKEN. We plan to do this by creating liquidity pools where TOKEN is the base currency, and our products are the quote currency. So, for example, we create a TOKEN/TCOR liquidity pool on Uniswap. In essence, TOKEN would be priced in terms of our TCOR portfolio. When TCOR’s value rises, it costs more to buy TOKEN, essentially increasing the $USD value of TOKEN. On the flip-side, if TCOR’s value declines, it costs less to buy TOKEN, essentially decreasing the $USD value of TOKEN. In this way, TOKEN is not just some worthless governance token, but has actual backing who value is tied to the success of our products.
Additionally, another idea we have is to use TokenDAO’s earned income from streaming fees, and swap fees, to buy TOKEN on the secondary market, essentially like a stock buyback.