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Summary of TaoPad
- TaoPad is a cryptocurrency protocol that synergizes with the BitTensor network’s native token, $TAO.
- It introduces a novel rewards mechanism, leveraging miners and validator nodes to reward holders with $wTAO tokens.
- $TPAD has a capped total supply of 1,000,000 tokens.
- The $TPAD token employs a 5% tax to fund the ecosystem of miners and validators.
- 5% fee is collected in $ETH with every buy and sell of $TPAD.
- Users can interact with TaoPad through three functions: DISTRIBUTE, CLAIM, and view current values of pending $wTAO rewards and rewards to distribute.
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Introducing TaoPad: Empowering Innovation
Taopad is a pioneering cryptocurrency protocol meticulously designed to harmonize with the BitTensor network’s native token, $TAO. By introducing an innovative rewards mechanism, it leverages a collective of miners and validator nodes to bestow $wTAO (Wrapped TAO) tokens upon its holders. This synergistic approach seeks to foster a mutually beneficial relationship between Taopad and $TAO, thereby augmenting value for holders and propelling the growth of decentralized AI and blockchain ecosystems.
The total supply of $TPAD is capped at a finite one million tokens, specifically 1,000,000 $TPAD.
The $TPAD token incorporates a 5% taxation mechanism, which serves as a vital revenue stream to sustain the ecosystem of miners and validators. The generated tax revenue is strategically allocated to procure miners and validators, while also covering operational expenditures, marketing initiatives, and listings on centralized exchanges (CEX) for the token.
Upon every purchase and sale of $TPAD, a 5% transaction fee is accrued in $ETH, which is subsequently collected within the $TPAD contract.
Users can engage with the platform in the following ways:
Distribution: All previously accumulated $wTAO is allocated to $TPAD holders.
CLAIM: Redeem a user’s $wTAO rewards following a successful distribution event
On our dAPP, users will have access to real-time information on the current values of pending $wTAO rewards awaiting distribution.
TaoPad was established and is spearheaded by an anonymous collective of experts. The lead architects, boasting a wealth of expertise in smart contract development, artificial intelligence, and front-end engineering, form the backbone of the team.
TPAD is now accessible for trading on Uniswap and other decentralized exchange (DEX) aggregators, offering a diverse range of cryptocurrency pairings.