There are many updates coming to our project as we focus on commercialization and driving more utilization. We’re moving towards a cooperative model, introducing farming pools, bringing more reliability to the grid, and more. See what’s next for ThreeFold.
One significant update is that starting Q2 2024 (expected), there will be no more minting of TFT. It was previously announced that this would only be implemented on TF Grid 4.x but as per our recent update to the community, we have decided to extend this across Grid 3.x as well. (Note: Farming rewards are still planned, will come from the treasury.)
This may come as a surprise to some, but we feel it is in the best interest of all. Here’s why:
By halting the minting of TFT, we lower the maximum supply. With less supply of TFT in circulation, we increase demand. This could have a positive impact on our token.
TFT remains the commercial utility of the project. All financial transactions in our ecosystem will go through TFT. All commercial grid services will need to reserve capacity (purchase TFT) and all commercial grid services will convert to TFT in the backend, even if paid with fiat by the customer / user. This should result in more demand for TFT while making it easier for people to pay how they like.
Further, TFT will be needed for farmers to stake on their farms, and for slashing (where a portion of their stake may be forfeited if they fail to meet their service level commitments, thereby enhancing the overall quality and reliability of the network), as well as staking tokens to receive discounts on utilization. Yet again, more demand for TFT.
While we do not see TFT as a product on its own, the token is a fundamental component in the ThreeFold ecosystem, and will remain that way.
We’re excited about the next phase of ThreeFold and we hope you see the positive impact possibilities as it relates to TFT. Did I miss anything? Feel free to bring any questions here.
Happy holidays and happy new year!